LEEF Brands Reports Financial Results

LOS ANGELES- LEEF Brands Inc.  a vertically integrated cannabis company based in California, has released its financial results for the first quarter of 2025 and the full year of 2024. The company reported a 19% year-over-year increase in revenue for Q1 2025, reaching $9.4 million, and a net income of $2.0 million, marking a turnaround from a net loss in the same period the previous year. However, the adjusted EBITDA for the quarter declined to -$0.8 million, attributed to costs associated with new cultivation initiatives.

For the full year 2024, LEEF Brands reported a 7% decrease in revenue, totaling $28.5 million, and a net loss of $24.6 million, an improvement from the $34.7 million loss in 2023. The adjusted EBITDA for the year was -$2.4 million, compared to a positive $1.2 million in the previous year. The company cited transitional investments in infrastructure and operational scalability initiatives as factors impacting profitability.

Operational highlights include the expansion of production capacity, with ethanol extraction increasing by 66%, solventless extraction by 50%, and hydrocarbon extraction by 38%. LEEF Brands also entered the New York market through a binding letter of intent to acquire a Tier 1 adult-use processing license, aiming to tap into the state’s projected $1.5 billion cannabis market in 2025.

Additionally, the company commenced cultivation at the 1,900-acre Salisbury Canyon Ranch in Santa Barbara County, planting 65 acres with plans to expand to 187 acres by 2027. The ranch, acquired for $6.4 million and valued at $40.8 million, is expected to enhance supply chain control and improve product quality.

LEEF Brands also reported the acquisition of 3.97 Bitcoin at an average cost of $88,372, with plans to integrate Bitcoin into its treasury reserve strategy.

Looking ahead, the company anticipates improved revenue and margins in the second half of 2025, driven by the first harvest at Salisbury Canyon Ranch and the expansion into the New York market.