Nextleaf Solutions Reports Fiscal Q3 2026 Financial Results
Nextleaf Solutions posts Q3 2026 revenue growth and lower excise taxes while remaining loss-making and investing in brand and product expansion.
Rhea-AI Summary
Nextleaf Solutions (OILFF) reported fiscal Q3 2026 results for the quarter ended June 30, 2026, showing higher net revenue and a narrower net loss alongside lower excise taxes.
Net revenue was approximately $2.53 million, up 5% sequentially from $2.41 million, while gross revenue declined to about $3.16 million from $3.34 million. Gross profit was roughly $887,000 versus $915,000 in Q2, with gross margin compressing to 35.1% from 38.0%. Excise taxes fell 32% quarter-over-quarter to about $630,000, contributing to a reduced net loss of approximately $502,000, down 22% from $646,000.
For the nine months ended June 30, 2026, gross revenue totaled about $10.49 million and net revenue about $7.95 million, with Adjusted EBITDA of approximately $(179,690). Subsequent to quarter-end, flagship brand Glacial Gold held nearly 20% national capsule market share, 63% capsule share in British Columbia, and about 13% national share in ingestible extracts, with products in more than 1,700 retail stores across six provinces.
Management’s FY2026 outlook highlights portfolio expansion, including a national launch of Yard Cannabis pre-rolls and first-to-market THC-V softgels under Glacial Gold, alongside expanded national trade marketing and continued brand evolution efforts. As part of its compensation and retention strategy, the company plans to issue 285,714 common shares at $0.035 per share, valued at $10,000, to directors, subject to a four-month hold period.
Positive
- Net revenue rose 5% quarter-over-quarter to approximately $2.53 million
- Excise taxes fell 32% QoQ to about $630,000, improving net economics
- Net loss narrowed about 22% sequentially to roughly $502,000
- Glacial Gold capsules held nearly 20% national market share, with TTM sales +10% YoY
- British Columbia capsule share for Glacial Gold was 63%, #1 in the province
- Adjusted EBITDA for nine months was close to breakeven at approximately $(179,690)
Negative
- Company remained unprofitable with a Q3 net loss of about $502,000
- Gross revenue declined sequentially to roughly $3.16 million from $3.34 million
- Gross margin compressed to 35.1% from 38.0% in Q2 2026 and Q3 2025
- Adjusted EBITDA for nine months stayed negative at approximately $(179,690)
- Share issuance of 285,714 shares for director compensation adds modest dilution
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2026) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) ("Nextleaf" or the "Company"), a multi-patented Canadian cannabis processor, released its financial results for the third quarter ended June 30, 2026.
The quarter reflected sequential improvement in net revenue and a significant reduction in excise taxes, supported by a broadened product mix including non-excisable bulk sales and tolling services. Net revenue increased
Q3 FY2026 Financial Highlights
For the three months ended June 30, 2026:
Net revenue of approximately
$2.53 million , up5% sequentially from$2.41 million in Q2 FY2026.Gross revenue of approximately
$3.16 million , compared with$3.34 million in Q2 FY2026.Gross profit of approximately
$887,000 , compared with$915,000 in Q2 FY2026.Gross margin of
35.1% , compared with38.0% in Q2 FY2026 and approximately38.0% in Q3 FY2025.Excise taxes decreased
32% quarter-over-quarter to approximately$630,000 , compared to$932,000 in Q2 FY2026, reflecting a broadened product mix including balanced and minor cannabinoid formulations with lower THC content, alongside non-excisable bulk ingredient sales.Net loss narrowed approximately
22% sequentially to$502,000 , compared with a net loss of$646,000 in Q2 FY2026.
For the nine months ended June 30, 2026:
Gross revenue was approximately
$10.49 million , with net revenue of approximately$7.95 million .Adjusted EBITDA was approximately
$(179,690) for the nine months ended June 30, 2026.
Glacial Gold Brand Evolution
Subsequent to quarter-end, Nextleaf announced the continued evolution of its flagship brand Glacial Gold, supported by portfolio refinement, product innovation, updated packaging, merchandising, digital experience, and consumer education.
Glacial Gold held nearly
20% national capsule market share, with trailing-twelve-month capsule retail sales increasing10% year-over-year compared to a12% contraction in the national category.The brand maintained the #1 capsule position in British Columbia with
63% market share and ranked #3 nationally in ingestible extracts with approximately13% market share.Glacial Gold products were carried in more than 1,700 retail stores across six provinces as of June 2026.
FY2026 Outlook
Nextleaf enters the fourth quarter (July to September 2026) focused on continued implementation of the Company's FY2026 Strategic Objectives.
Key initiatives include:
Portfolio Expansion: National launch of Yard Cannabis pre-rolls, expanding the brand beyond its existing extract portfolio.
Product Innovation: First-to-market in Canada with THC-V softgels under Glacial Gold, continuing the Company's focus on differentiated cannabinoid formulations.
National Trade Marketing Programs: Expanded trade marketing initiatives with national retail partners to support product education, brand visibility, and retail execution.
Brand Evolution: Continued implementation of the refreshed Glacial Gold platform across packaging, merchandising, digital experience, education, and product innovation.
The Company's condensed interim consolidated financial statements and Management's Discussion and Analysis for the three and nine months ended June 30, 2026, are available under the Company's profile on SEDAR+ and on the Company's website.
Share Issuance
As part of the Company's compensation and retention strategy, Nextleaf will issue 285,714 common shares at a price of
About Nextleaf Solutions
Nextleaf® is an innovation-driven life sciences company and licensed cannabis processor with a portfolio of consumer brands, market-validated cannabis derivative products, and high-potency bulk ingredients. Nextleaf's multi-patented, automated extraction and distillation technology sets the standard for processing cannabis at scale.
The Company's scalable, asset-light platform is built on intellectual property, patented technology and API, enabling total-quality oversight in the development and commercialization of differentiated, value-driven, cannabinoid-based products for domestic and international markets.
Nextleaf's portfolio includes more than 75 global patents covering the extraction and refinement of cannabinoid-based ingredients, as well as its consumer brands: category-leading flagship Glacial Gold, High Plains Cannabis, and Yard Cannabis. The Company maintains more than 35 active SKUs across five categories of consumption.
On behalf of the Board of Directors of the Company,
Emma Andrews, CEO
For More Information
Email: investors@nextleafsolutions.com
Follow Nextleaf Solutions on LinkedIn
Learn More: www.nextleafsolutions.com
Nextleaf trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.
Non-GAAP Measures
This press release contains references to certain non-GAAP financial measures, including EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin. These measures are not recognized measures under International Financial Reporting Standards ("IFRS") and do not have a standardized meaning prescribed by IFRS. The Company's method of calculating these non-GAAP measures may differ from the methods used by other issuers and, accordingly, may not be directly comparable to similar measures presented by other issuers.
Management believes these non-GAAP measures provide useful supplemental information to investors regarding the Company's operating performance because they exclude certain non-cash items, finance costs, income taxes, and other items that management does not consider reflective of ongoing operating performance. These non-GAAP measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
A reconciliation of Net Loss (the most directly comparable IFRS measure) to Adjusted EBITDA is presented above. For additional information regarding non-GAAP financial measures, please refer to the Company's Management's Discussion and Analysis for Q1 2026, available on SEDAR+ at www.sedarplus.ca.
Forward-Looking Statements
This press release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements include statements regarding the Company's expectations for future financial performance, operational outlook, product launches, margin trajectory, capacity utilization, capital allocation, and strategic priorities. These statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements.
Material factors and assumptions that could cause actual results to differ materially include, without limitation: changes in the regulatory environment for cannabis in Canada; competition; changes in consumer preferences; the Company's ability to execute on its commercial strategy; access to capital; and the other risk factors described in the Company's Annual Information Form and Management's Discussion and Analysis filed on SEDAR+. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312908
FAQ
How did Nextleaf Solutions (OILFF) perform financially in Q3 2026?
For Q3 2026, Nextleaf Solutions reported net revenue of approximately $2.53 million, up 5% sequentially, on gross revenue of about $3.16 million. Gross profit was roughly $887,000 with a 35.1% margin, and the company recorded a net loss of around $502,000, narrowed by about 22% quarter-over-quarter.
What changes did Nextleaf Solutions (OILFF) see in excise taxes during Q3 2026?
Excise taxes in Q3 2026 decreased 32% quarter-over-quarter to approximately $630,000 from $932,000 in Q2 2026. The company attributes this reduction to a broadened product mix, including lower-THC balanced and minor cannabinoid formulations and non-excisable bulk ingredient sales.
Is Nextleaf Solutions (OILFF) still reporting a net loss in Q3 2026?
Yes. Nextleaf Solutions reported a Q3 2026 net loss of approximately $502,000, compared with a net loss of $646,000 in Q2 2026. This represents an improvement of about 22% sequentially but indicates the company remains loss-making.
What were Nextleaf Solutions’ (OILFF) revenues and Adjusted EBITDA for the nine months ended June 30, 2026?
For the nine months ended June 30, 2026, gross revenue was approximately $10.49 million and net revenue about $7.95 million. Adjusted EBITDA over this period was roughly $(179,690), indicating operations were near but not yet at breakeven on this non-GAAP basis.
How is the Glacial Gold brand performing for Nextleaf Solutions (OILFF)?
Glacial Gold continued to perform strongly. It held nearly 20% national capsule market share, with trailing-twelve-month capsule sales up 10% year-over-year compared to a 12% contraction in the national category. In British Columbia, it held a 63% capsule share and ranked #3 nationally in ingestible extracts with about 13% share.
What strategic initiatives is Nextleaf Solutions (OILFF) planning for FY2026?
Nextleaf enters Q4 2026 focused on its FY2026 Strategic Objectives, including a national launch of Yard Cannabis pre-rolls, first-to-market THC-V softgels under Glacial Gold, expanded national trade marketing programs, and ongoing implementation of the refreshed Glacial Gold platform across packaging, merchandising, digital, education, and product innovation.