MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF), a provider of regenerative agriculture solutions, reported record third quarter financial results as it expands its presence in Canadian and US markets.
Revenue was $0.8 million for the quarter, compared with no revenue in the year-ago period.
Gross profit totaled $180,555, representing a 22.9% gross margin, up from 20.9% in Q2 2025.
“MustGrow's gross profit margin improvement over the second quarter resulted from higher margin product sales through our Canadian sales and distribution division, NexusBioAg," MustGrow CEO Corey Giasson said in a statement.
At the end of the quarter, MustGrow held $3.3 million in cash and equivalents and $1.9 million in inventory.
The company said that it continues to focus on capital allocation aimed at growing revenue from its NexusBioAg Canadian sales and distribution business, as well as TerraSante biofertility product sales in the US.
Giasson highlighted that the third calendar quarter is typically the lowest product revenue “shoulder season” for Canadian agriculture, with farmers focused on harvesting rather than purchasing input products.
"As mentioned in previous earnings calls, Q1 and Q4 are traditionally stronger sales periods, as Canadian farmers purchase crop inputs,” Giasson said. “We are looking forward to a strong finish to the year in Q4 and also Q1 2026 as farmers purchase products in preparation for the 2026 growing season."