Toronto, Ontario – June 2, 2025 – Glow Lifetech Corp. (CSE: GLOW) (OTCQB: GLWLF) (FSE: 9DO) (“Glow” or the “Company”) is pleased to report its financial results for the first quarter ended March 31, 2025 (“Q1 2025). In Q1 2025, Glow delivered record revenue, sustained high gross margins, and achieved key balance sheet improvements, reflecting the Company’s continued focus on delivering sustainable, profitable growth.
“We’ve entered 2025 with strong momentum, delivering another quarter of record performance with revenue up 238% year-over-year and 44% quarter-over-quarter – our third consecutive quarter exceeding 40% sequential growth,” said Rob Carducci, CEO, Glow Lifetech. “With strong gross margins of 66% and EBITDA nearing breakeven, these results reflect the strength of our commercial strategy and the teams focus on sustained operational efficiency. We remain confident in our ability to drive sustainable, profitable growth as we continue scaling the business.”
Q1 2025 Financial Highlights:
- Net revenue of $478,327, a 238% increase compared to prior year (Q1 2024: $141,529) and a 44% increase sequentially compared to previous quarter (Q4 2024: $332,283)
- Gross profit of $318,024, a 211% increase compared to prior year (Q1 2024: $102,249) and a 41% increase sequentially from previous quarter (Q4 2024: $225,172)
- Gross margin of 66%, a slight decrease from 70% in Q1 2024, reflecting the growing success of larger-format SKUs that drive higher dollar margins and strengthen overall unit economics
- EBITDA[1] loss narrowed to $65,116, an improvement of 44% from previous quarter (Q4 2024: $116,883), demonstrating near breakeven performance
- Cash balance of $1,101,804 and working capital surplus of $1,687,078, reflecting an improvement of over $3.8 million from a working capital deficit of $2,128,320 in Q1 2024
- Current ratio of 2.88x, a significant improvement compared to 0.17x in Q1 2024, reflecting improved financial strength and enhanced flexibility to support growth initiatives
“We’re executing with discipline across every part of the business, from commercialization and retail expansion to operational efficiency and financial management,” said Rob Carducci, CEO, Glow Lifetech. “With a strong foundation, expanding market share, and a growing portfolio of differentiated products, we are well-positioned to scale further while continuing to improve profitability and unlock long-term value.”
Q1 Commercial Highlights:
- Expanded Store Penetration: Glow continues to experience growing market demand for its products across Ontario, expanding store penetration into more than 850+ retail cannabis stores in Q1, representing approximately half of all Ontario’s licensed cannabis retail stores.
- National Market Expansion: Glow successfully launched MOD™ THC Berry Drops and MOD™ THC Lime Drops in the Province of New Brunswick, marking the brand’s debut in Atlantic Canada and expanding the Company’s national distribution footprint
- MOD™ Market Leadership: The Company strengthened its market leadership position of its flagship MOD™ brand, which continues to be the #3 brand in Ontario’s oils category[2], now achieving the #2 ranked SKU in Ontario’s oil category with its MOD™ THC 1000.
- Category-Leading Innovation: In Q1, the Company announced a new Ontario listing for MOD™ CBN:THC Drops 300 (3-pack), a fast-acting, flavourless water-soluble formulation that combines THC and CBN, a rising minor cannabinoid known for its unique functional benefits. The product is scheduled for launch in Spring 2025.
Q2 2025 Outlook
Glow enters the second quarter of 2025 with continued momentum across its commercial and financial performance. The Company remains focused on deepening its presence in Ontario, launching new SKUs in targeted categories, advancing strategic market expansion, and accelerating the growth of its category-leading MOD™ and .decimal™ brands. With a proven strategy and solid foundation, Glow is well-positioned to drive continued growth and progress toward profitability.
Director Resignation
The Company announces that Mr. James Van Staveren has resigned from the Board of Directors of the Company, effective May 31, 2025. The Company thanks Mr. Van Staveren for his significant contribution over the years, and wishes him all the best in his future endeavours.
[1] EBITDA is a non-IFRS measure and is not recognized, defined or standardized measures under IFRS. These measures are defined in the “Non-IFRS Measures” section of this news release.
[2] Based on $ Sales – 2025 OCS Wholesale Data, Q1 2025
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About Glow LifeTech Corp.
Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has a groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
Website: www.glowlifetech.com
Contact:
Rob Carducci, CEO
Glow LifeTech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com
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