Vext Science Reports Q3 Revenue Growth of 17.6% and Improved Cash Flow
Vext Science (VEXTF) reported third-quarter revenue of $14.9 million, representing a 17.6% increase year-over-year and exceeding expectations by $0.3 million. The growth was primarily driven by the company's Ohio operations, which saw revenue rise 37% to $10.9 million due to strong performance in Fairfield and increased sales of company-grown flower. The company demonstrated significant improvement in liquidity, reporting operating cash flow of $2.4 million, which is double the amount reported in Q2. This increase was attributed to the conversion of first-half inventory into cash. Despite a net loss of $4.9 million for the quarter, Vext Science achieved an Adjusted EBITDA of $0.2 million, bringing its year-to-date Adjusted EBITDA to $6.4 million.