Replenish Nutrients Holding Corp (CSE:ERTH, OTC:VVIVF, FRA:7KE) has reported its fourth-quarter and full-year 2025 financial results, highlighting progress in scaling its regenerative fertilizer platform alongside continued net losses as the company transitions toward commercialization.
For the fourth quarter ended December 31, 2025, revenue rose to $3 million from $2.6 million a year earlier, driven by higher fertilizer sales volumes and pricing.
Full-year revenue was $6.8 million, compared with $6.9 million in 2024.
The company posted a quarterly net loss of $4.6 million, widening from a loss of $3.1 million in the prior-year period.
For the full year, net loss expanded to $8.6 million from $4.3 million in 2024. The increase was attributed primarily to higher finance costs tied to increased debt levels, as well as the absence of one-time gains and tax recoveries recorded in the prior year.
Gross profit declined to near break-even in the fourth quarter and totaled $192,290 for the full year, down from $639,055 in 2024. The decrease reflected lower capitalized manufacturing costs due to reduced inventory levels and weaker pricing in the company’s power segment.
Operating losses also widened, with a quarterly operating loss of $1.2 million and a full-year operating loss of $4.4 million. Adjusted EBITDA losses totaled $607,000 for the quarter and $2.2 million for the year.
Despite the financial pressures, Replenish reported operational progress, including achieving targeted production rates at its Beiseker, Alberta facility. The plant is ramping toward 2,000 metric tonnes per month, with expected gross margins of 25% to 35% and an annual capacity target of about 24,000 tonnes of granulated fertilizer.
The company is also advancing licensing agreements with Farmers Union Enterprises in the US Midwest and MJ Ag Solutions in Northern Alberta. Construction and commissioning are underway, with initial production runs expected in late spring or early summer 2026. The agreements cover agricultural regions spanning more than 100 million acres in the US and over 10 million acres in Western Canada.
Replenish said it is shifting its sales mix toward higher-margin granulated and pelletized fertilizers, moving away from lower-margin blended products.
Subsequent to year-end, the company strengthened its balance sheet through a $4.2 million private placement, a $250,000 government grant, and a $1.95 million expansion of its revolving credit facilities.
Looking ahead, Replenish said it expects its production ramp-up and licensing strategy to support growth in earnings and cash flow. The company projects initial licensing gross margins of 25% to 35%, with potential to reach margins above 90% after a transition period of up to one year once facilities reach full-scale production.
At full capacity, the Farmers Union Enterprises facility is expected to produce 50,000 metric tonnes annually, while the MJ Ag facility is expected to produce 10,000 tonnes, with potential to double output through continuous operations.
Shares of Replenish gained nearly 7% in Toronto on Friday morning.