Financial Data and Key Metrics Changes - In Q4, net revenue increased 79% to CAD 80.1 million from CAD 44.7 million in the same prior year period [15] - Full-year fiscal 2025 net revenue increased 62% to CAD 259.2 million from CAD 159.8 million in the prior year [15] - Adjusted gross profit for Q4 increased 85% to CAD 30.6 million versus CAD 16.5 million in Q4 last year [16] - Adjusted EBITDA set a company record in fiscal 2025, with Q4 adjusted EBITDA of CAD 9.8 million, an increase of 72% sequentially and 69% year-over-year [20] - The net loss for Q4 was CAD 38 million, compared to a net loss of CAD 5.4 million in the same prior year period [22] Business Line Data and Key Metrics Changes - The acquisition of Motif Labs contributed significantly to growth without market share dilution [4] - The company achieved record international sales of CAD 26.3 million in fiscal 2025, a 171% increase versus the prior year [10] - Adjusted gross margin in Q4 rose by 400 basis points over Q3 to 38% [17] Market Data and Key Metrics Changes - Organigram holds the number one market position in Canada with 11.9% market share in fiscal 2025 [6] - The company ranked first in Ontario, British Columbia, and Alberta, and fourth in Quebec [7] - Market share in New Brunswick reached 34.2%, Newfoundland 23.7%, Saskatchewan 14.9%, and Nova Scotia 12.2% [7] Company Strategy and Development Direction - The company aims to increase the margin profile of its domestic product mix while optimizing operational footprint for capacity and throughput [9] - Plans to launch new products, including coated infused pre-rolls and beverages, to meet evolving consumer needs [9] - The focus on international expansion includes launching branded vapes and gummies in Australia [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth supported by a stronger platform and expanding international opportunities [26] - The company anticipates strong net revenue growth exceeding CAD 300 million in fiscal 2026 [24] - Management is monitoring U.S. regulatory changes that could impact the hemp-derived THC market but does not expect a material adverse economic impact [12] Other Important Information - The company received a CAD 2 million grant from Opportunities New Brunswick to support facility enhancements [6] - The Jupiter Fund currently has CAD 59 million available for deployment to leverage opportunities in markets outside of Canada [13] - The company is awaiting a determination on its EU-GMP application submitted in October 2025 [12] Q&A Session Summary Question: International growth expectations and supply-demand dynamics - Management indicated that they are starting to realize increased capacity and are well-positioned for fiscal 2026, particularly in Germany [32] Question: Gross margin expectations for fiscal 2026 - Management expects continued improvement in gross margin driven by operational improvements and synergies from the Motif acquisition [36] Question: Contribution of Motif synergies versus cultivation improvements to margin improvement - Management stated that the majority of margin improvement will come from operational improvements in cultivation rather than solely from Motif synergies [46] Question: Capital expenditure plans for the next year - Management plans to keep capital expenditures modest for fiscal 2026, expecting to spend less than CAD 10 million [47]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $46.3 million, down 17% year over year from $55.6 million in Q3 2024, driven by softer advertising demand and a decrease in affiliate partner bonuses [6][8] - Adjusted EBITDA for the quarter was $753,000 compared to $8.1 million in Q3 2024, indicating a significant decline but remaining positive [6][8] - Year-to-date total revenues reached $128.7 million compared to $133.7 million in the first nine months of 2024, a decline of 4% [9] Business Line Data and Key Metrics Changes - Advertising revenues totaled $22.2 million, down 11% from $24.8 million in Q3 2024, with direct-sold advertising declining to $5.1 million [7] - Content revenue was $7.2 million, a decline of 33% from $10.7 million in Q3 2024, reflecting muted demand for branded content partnerships [7] - Commerce and other revenues totaled $17 million, down 15% from $20.1 million in Q3 2024, primarily due to a decline in organic affiliate commerce [8] Market Data and Key Metrics Changes - Total U.S. time spent across properties was 68.5 million hours, down from 80.3 million hours in Q3 2024, largely due to reduced news consumption compared to the presidential election cycle [8] - BuzzFeed remained number one among Gen Z and millennials, with 10.7 million hours spent, up 25% from Q2 2025 [4][5] Company Strategy and Development Direction - The company is focused on building a leaner, more resilient business model and improving net income from continuing operations [4][10] - Strategic focus on owned distribution, scalable revenue streams, and new innovations is expected to position the company well for long-term value creation [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged Q3 as a challenging quarter with near-term headwinds impacting results, but expects a step-up in Q4 driven by seasonal strength in commerce and advertising [4][10] - The full-year 2025 revenue guidance was reduced by approximately $10 million, now expected in the range of $185-$195 million, with adjusted EBITDA expected to be break-even to $10 million [9][10] Other Important Information - Direct traffic, internal referrals, and app usage now account for 63% of BuzzFeed.com traffic, up from 61% in Q2 2025, indicating reduced platform dependency [5] - Significant progress on various R&D projects was noted, with plans for a larger update in the next earnings call [5] Q&A Session Summary - No specific questions or answers were provided in the content, thus this section is not applicable.