Village Farms International Reports Q1 2025

LOS ANGELES- Village Farms International Inc. has announced its financial results for the first quarter of 2025, highlighting a strategic pivot towards its cannabis operations and the privatization of certain fresh produce assets.

For the quarter ending March 31, 2025, Village Farms reported consolidated revenues of $77.1 million, a slight decrease from $78.1 million in the same period the previous year. The company posted a net loss of $6.7 million, or $0.06 per share, compared to a net loss of $2.9 million, or $0.03 per share, in Q1 2024. Adjusted EBITDA was $0.1 million, down from $3.6 million year-over-year.

The Canadian cannabis segment delivered its strongest EBITDA performance in three years, with net income increasing by 258% year-over-year to $3.0 million. Adjusted EBITDA for this segment rose by 64% to $6.7 million. International medical export sales surged by 285% year-over-year, contributing to a gross margin expansion to 36%.

Village Farms announced a definitive agreement to privatize certain assets of its Fresh Produce segment by forming a new joint venture, Vanguard Food LP, with private investment firms including Sweat Equities. Under the terms of the agreement, Village Farms will receive $40 million in cash and retain a 37.9% equity ownership interest in Vanguard. The transaction includes the transfer of Texas-based Marfa II and Fort Davis greenhouse assets, produce-related intellectual property (excluding the Village Farms name), and all produce distribution facilities. The deal is expected to close in the second quarter of 2025.