Core Insights - MediPharm Labs Corp. reported strong year-over-year revenue growth of 14% in Q2 2025, reaching $11.8 million, driven by international market expansion and a solid balance sheet [2][4][8] - The company successfully defended a proxy contest, with shareholders voting three-to-one in favor of the board's strategic direction, indicating strong shareholder engagement [2][3] - International medical cannabis revenue grew by 50% year-over-year, now accounting for 57% of total revenue, highlighting the effectiveness of the company's international strategy [4][8] Financial Performance - Q2 2025 revenue was $11.8 million, an increase of $1.5 million compared to Q2 2024, with international medical cannabis revenue at $6.7 million [4][8] - Gross profit for the quarter was $3.3 million, representing 28% of revenue, with management focusing on margin improvement through product optimization [6][8] - Adjusted EBITDA for Q2 2025 was negative $0.6 million, a decline from the previous year, but year-to-date Adjusted EBITDA improved to negative $0.4 million from negative $1.1 million in the first half of 2024 [7][8] Market Strategy - The Canadian adult-use and wellness segment generated $1.6 million in Q2 2025, reflecting a 6% year-over-year increase and 19% sequential growth from Q1 2025, supported by product portfolio expansion [5][8] - The company plans to launch metered dose inhalers in international markets, including Australia and the UK, following the expansion of its inhaler line in Canada [5][8] Balance Sheet and Operational Efficiency - MediPharm ended Q2 2025 with a cash balance of $10.4 million, up from $8.4 million in Q1 2025, aided by the divestiture of a facility for $4.5 million [11][12] - The company remains virtually debt-free and owns two production facilities valued at over $15 million, providing operational flexibility [12]