Cann Group Limited
CAN.ASXHealth Care
Cultivation of cannabis for medicinal and research purposes and manufacturing of medicinal cannabis products
Market Data
$0.004
+0.1%$6.6M
0.4x
$0.010
0.00%
-0.7%
Latest Earnings
Cann announces FY25 half year results
27 February 2026
Cann Group achieved a transformational half-year result highlighted by a $55.7M debt write-down following NAB's exit, reducing total debt from $70M to $14.8M. Revenue declined 7% to $4.5M due to temporary TGA-related market softness in Q2, but B2B sales surged 26% to $2M (44% of revenue) with strong Q3 purchase orders secured. Normalised EBITDA losses improved 42% to $2.4M as operating expenses fell 33% year-on-year, positioning the company toward EBITDA breakeven in H2 FY26. Key points: Transformational debt restructuring: $70M debt reduced to $14.8M; NAB wrote down $55.7M, settling $70M position for $15.3M; B2B sales momentum: 26% growth to $2M (44% of total revenue); supporting major customers' international expansion strategies; Normalised EBITDA losses improving: 42% improvement to $2.4M loss vs PCP; on track for H2 breakeven
Recent Announcements
Cann announces FY25 half year results
Cann Group achieved a transformational half-year result highlighted by a $55.7M debt write-down following NAB's exit, reducing total debt from $70M to $14.8M. Revenue declined 7% to $4.5M due to temporary TGA-related market softness in Q2, but B2B sales surged 26% to $2M (44% of revenue) with strong Q3 purchase orders secured. Normalised EBITDA losses improved 42% to $2.4M as operating expenses fell 33% year-on-year, positioning the company toward EBITDA breakeven in H2 FY26. Key points: Transformational debt restructuring: $70M debt reduced to $14.8M; NAB wrote down $55.7M, settling $70M position for $15.3M; B2B sales momentum: 26% growth to $2M (44% of total revenue); supporting major customers' international expansion strategies; Normalised EBITDA losses improving: 42% improvement to $2.4M loss vs PCP; on track for H2 breakeven
Appendix 4D and Half Year Report
Cann Group swung to a $26.4M profit in H1 FY2026 (vs $10.7M loss in H1 FY2025), driven by a $55.7M debt forgiveness gain from NAB refinancing, but core revenue declined 30% to $4.5M and normalised EBITDA remained negative at -$2.4M. The company successfully refinanced debt, raising $9M in capital and reducing net debt significantly, though it faces going concern uncertainty and covenant breaches require lender waivers. Key points: Debt refinancing successfully completed: $70M NAB loan reduced to $14.78M through $55.7M debt forgiveness and $9M new facility from secondary lender; Operating expense reduction of 33% to $7.0M (vs $10.5M pcp), primarily from lower production costs improving gross margins; Net assets position improved dramatically from -$2.8M liability to +$34.3M equity following refinancing and capital raise
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