Key Takeaways
- MustGrow Biologics Corp. recorded $3.8 million in sales revenue for Q1 2025, compared to no revenue in the same period last year.
- The quarter marked the first full revenue cycle following the acquisition of NexusBioAg on December 31, 2024.
- Gross profit totaled $541,221, reflecting a 14.3% gross margin; net loss for the quarter was $1.6 million, or $0.03 per share.
- Cash on hand stood at $2.0 million at the end of the quarter, with $2.4 million in inventory.
- The company added new products to its NexusBioAg distribution platform and reported growing interest in its TerraSante™ biofertility product in the U.S.
MustGrow Posts First Quarterly Revenue from NexusBioAg Platform
MustGrow Biologics Corp. (TSXV: MGRO) has released its financial results for the first quarter of 2025, marking a transitionary period as the company begins generating revenue from its expanded product and distribution portfolio.
The company reported $3.8 million in sales revenue for the quarter ending March 31, 2025—its first quarter with full revenue recognition from the NexusBioAg sales and distribution business, which was acquired at the end of 2024.
“$3.8 million is a meaningful revenue figure for us,” said Corey Giasson, President and CEO of MustGrow. “With additional products already secured for the NexusBioAg distribution platform and increasing commercial farmer interest in our TerraSante™ U.S. biofertility product, we are accelerating our mission to improve the global food system through sustainable production solutions.”
Q1-2025 Financial Summary
Revenue and Profitability Metrics
- Revenue: $3.8 million
- Gross Profit: $541,221
- Gross Margin: 14.3%
- Net Loss: $1.6 million
- Loss Per Share: $0.03 (basic)
- Cash and Equivalents: $2.0 million
- Inventory: $2.4 million
The company’s financial results reflect early-stage integration of the NexusBioAg business, combined with ongoing investments in product development and market expansion.
Product Expansion and Distribution Updates
In Q1 2025, MustGrow expanded its Canadian product offerings through the NexusBioAg platform by securing additional products and signing new distribution agreements:
- Five-year exclusive distribution agreement with Adjuvants Plus Inc., a Canadian regenerative agriculture firm
- Launch of three new biological products: EZ-Gro Max, EZ-Gro Cyto, and Rootella® mycorrhizal inoculants
These additions aim to support crop health, yield improvement, and environmental resilience for Canadian farmers. Further details on the product lineup are available via nexusbioag.com.
MustGrow Focus Areas for Revenue Growth
MustGrow continues to prioritize capital allocation toward business segments with the potential for near-term revenue growth, particularly in:
- NexusBioAg’s Canadian distribution operations
- TerraSante™ biofertility sales in the U.S. market
The company reports ongoing engagement with commercial growers and retailers in both regions, with plans to broaden its portfolio of regenerative and biological agriculture solutions.
Read the complete financial results here.
