Flora Growth Corp Financials
Flora Growth Corp (FLGC) reported $35.7M in revenue for fiscal year 2025, down 0.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Flat sales and vanishing gross margin have turned ZeroStack into a financing-supported operation rather than a self-funding business.
In FY2025, operating cash burn was only-$8.7M even as operating loss reached-$154.7M . Because total assets also jumped to$130.2M and long-term debt appeared at$50.8M , the year reads less like ordinary cash deterioration and more like heavy non-cash accounting pressure alongside a much larger, debt-backed balance sheet.
Between FY2023 and FY2025, gross margin fell from
The balance sheet is bigger but not more liquid: cash was
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Flora Growth Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Flora Growth Corp, and counted as zero in the overall score.
Flora Growth Corp scores -6.41, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($21.6M) relative to total liabilities ($59.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Flora Growth Corp passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Flora Growth Corp reported a net loss of $119.7M while operations used $8.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Flora Growth Corp reported an operating loss of $154.7M against $243K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Flora Growth Corp generated $35.7M in revenue in fiscal year 2025. This represents a decrease of 0.5% from the prior year.
Flora Growth Corp's EBITDA was -$154.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1788.8% from the prior year.
Flora Growth Corp reported -$119.7M in net income in fiscal year 2025. This represents a decrease of 652.7% from the prior year.
Cash & Balance Sheet
Flora Growth Corp recorded an outflow of $8.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 70.4% from the prior year.
Flora Growth Corp held $5.6M in cash against $50.8M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Flora Growth Corp's gross margin was 4.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the prior year.
Flora Growth Corp's ROE was -169.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 183.0 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Flora Growth Corp invested $127K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 5.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
FLGC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue | $36.1M | $35.7M-0.5% | $35.9M-52.9% | $76.1M+127.8% | $33.4M+271.9% | $9.0M |
| Cost of Revenue | $31.8M | $34.0M+1.1% | $33.7M-42.3% | $58.3M+189.5% | $20.1M+207.4% | $6.6M |
| Gross Profit | $4.3M | $1.6M-24.9% | $2.2M-87.6% | $17.7M+33.9% | $13.3M+446.4% | $2.4M |
| R&D Expenses | N/A | N/A | $418K+574.2% | $62K-84.0% | $388K+193.9% | $132K |
| SG&A Expenses | N/A | $1.4M-27.9% | $1.9M+17.2% | $1.6M-49.9% | $3.3M+256.5% | $922K |
| Operating Income | -$215.7M | -$154.7M-1632.8% | -$8.9M+82.3% | -$50.4M-6.6% | -$47.2M-148.5% | -$19.0M |
| Interest Expense | -$228K | -$243K-14.1% | -$213K-190.3% | $236K-74.9% | $941K-29.5% | $1.3M |
| Income Tax | -$38K | $59K+168.2% | $22K+101.4% | -$1.6M-15.9% | -$1.4M-1333.7% | -$98K |
| Net Income | -$155.6M | -$119.7M-652.7% | -$15.9M+72.1% | -$57.0M-8.8% | -$52.4M-145.4% | -$21.4M |
| EPS (Diluted) | — | -$43.49 | -$50.02 | -$7.75 | -$13.68 | N/A |
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
FLGC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Assets | $130.2M+396.6% | $26.2M+11.0% | $23.6M-70.8% | $81.0M-5.3% | $85.5M |
| Current Assets | $8.7M-55.9% | $19.8M-7.5% | $21.4M-31.4% | $31.2M-35.0% | $47.9M |
| Cash & Equivalents | $5.6M+7.1% | $5.2M+20.1% | $4.3M-51.3% | $8.9M-76.2% | $37.6M |
| Inventory | $1.9M-15.3% | $2.2M-73.7% | $8.5M-2.7% | $8.7M+188.7% | $3.0M |
| Accounts Receivable | $799K-49.0% | $1.6M-60.3% | $4.0M-24.9% | $5.3M-1.2% | $5.3M |
| Goodwill | N/A | $2.0M | $0-100.0% | $23.4M+18.8% | $19.7M |
| Total Liabilities | $59.7M+174.8% | $21.7M+26.1% | $17.2M-29.9% | $24.6M+187.8% | $8.5M |
| Current Liabilities | $8.6M-54.2% | $18.8M+15.7% | $16.3M-6.7% | $17.4M+185.1% | $6.1M |
| Long-Term Debt | $50.8M | $0 | N/A | N/A | N/A |
| Total Equity | $70.6M+1464.3% | $4.5M-29.6% | $6.4M-88.7% | $56.8M-26.4% | $77.2M |
| Retained Earnings | -$277.8M-75.7% | -$158.1M-10.9% | -$142.5M-56.9% | -$90.9M-135.8% | -$38.5M |
FLGC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.9M | -$8.7M-72.4% | -$5.0M+40.1% | -$8.4M+47.3% | -$15.9M+23.9% | -$20.9M |
| Capital Expenditures | $103K | $127K-5.2% | $134K-17.8% | $163K-87.4% | $1.3M-67.5% | $4.0M |
| Free Cash Flow | -$10.0M | -$8.8M-70.4% | -$5.2M+39.6% | -$8.6M+50.3% | -$17.2M+30.9% | -$24.9M |
| Investing Cash Flow | -$3.8M | -$3.5M-1803.4% | $203K+186.8% | -$234K+98.5% | -$15.8M-8.6% | -$14.6M |
| Financing Cash Flow | $11.9M | $11.3M+74.7% | $6.5M+106.2% | $3.1M-28.6% | $4.4M-92.4% | $58.4M |
| Share Buybacks | N/A | N/A | N/A | $0-100.0% | $255K | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
FLGC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Gross Margin | 4.6%-1.5pp | 6.1%-17.2pp | 23.3%-16.4pp | 39.7%+12.7pp | 27.0% |
| Operating Margin | -433.5% | -24.9%+41.3pp | -66.2% | -141.4% | -211.6% |
| Net Margin | -335.6% | -44.4%+30.6pp | -75.0% | -156.9% | -237.9% |
| Return on Equity | -169.7%+183.0pp | -352.7%+537.9pp | -890.6%-798.4pp | -92.2%-64.6pp | -27.7% |
| Return on Assets | -91.9%-31.3pp | -60.7%+180.8pp | -241.4%-176.7pp | -64.7%-39.7pp | -25.0% |
| Current Ratio | 1.010.0x | 1.05-0.3x | 1.31-0.5x | 1.79-6.0x | 7.84 |
| Debt-to-Equity | 0.72+0.7x | 0.00-2.7x | 2.69+2.3x | 0.43+0.3x | 0.11 |
| FCF Margin | -24.7%-10.3pp | -14.4%-3.1pp | -11.3%+40.3pp | -51.6% | -277.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Flora Growth Corp Ranks
Frequently Asked Questions
What is Flora Growth Corp's annual revenue?
Flora Growth Corp (FLGC) reported $35.7M in total revenue for fiscal year 2025. This represents a -0.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Flora Growth Corp's revenue growing?
Flora Growth Corp (FLGC) revenue declined by 0.5% year-over-year, from $35.9M to $35.7M in fiscal year 2025.
Is Flora Growth Corp profitable?
No, Flora Growth Corp (FLGC) reported a net income of -$119.7M in fiscal year 2025.
What is Flora Growth Corp's EBITDA?
Flora Growth Corp (FLGC) had EBITDA of -$154.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Flora Growth Corp have?
As of fiscal year 2025, Flora Growth Corp (FLGC) had $5.6M in cash and equivalents against $50.8M in long-term debt.
What is Flora Growth Corp's gross margin?
Flora Growth Corp (FLGC) had a gross margin of 4.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Flora Growth Corp's return on equity (ROE)?
Flora Growth Corp (FLGC) has a return on equity of -169.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Flora Growth Corp's free cash flow?
Flora Growth Corp (FLGC) recorded an outflow of $8.8M in free cash flow during fiscal year 2025. This represents a -70.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Flora Growth Corp's operating cash flow?
Flora Growth Corp (FLGC) recorded an outflow of $8.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Flora Growth Corp's total assets?
Flora Growth Corp (FLGC) had $130.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Flora Growth Corp's capital expenditures?
Flora Growth Corp (FLGC) invested $127K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Flora Growth Corp's current ratio?
Flora Growth Corp (FLGC) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.
What is Flora Growth Corp's debt-to-equity ratio?
Flora Growth Corp (FLGC) had a debt-to-equity ratio of 0.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Flora Growth Corp's return on assets (ROA)?
Flora Growth Corp (FLGC) had a return on assets of -91.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Flora Growth Corp's cash runway?
Based on fiscal year 2025 data, Flora Growth Corp (FLGC) had $5.6M in cash against an annual operating cash burn of $8.7M. This gives an estimated cash runway of approximately 8 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Flora Growth Corp's Altman Z-Score?
Flora Growth Corp (FLGC) has an Altman Z-Score of -6.41, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Flora Growth Corp's Piotroski F-Score?
Flora Growth Corp (FLGC) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Flora Growth Corp's earnings high quality?
Flora Growth Corp (FLGC) reported a net loss of $119.7M while operations used $8.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Flora Growth Corp cover its interest payments?
Flora Growth Corp (FLGC) reported an operating loss of $154.7M against $243K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Flora Growth Corp?
Flora Growth Corp (FLGC) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.