MustGrow Biologics Corp. (MGRO:CA) Q2 2026 Earnings Call Transcript

Operator

Welcome to MustGrow Biologics Q2 2026 Earnings Call with CEO, Corey Giasson; and COO, Colin Bletsky. The financial statements and management discussion and analysis are available on SEDAR+. Today’s remarks may contain forward-looking statements. These statements involve known and unknown risks and uncertainties. Please refer to MustGrow’s filings on SEDAR+ for more information. After management’s remarks, we will open the call for questions. [Operator Instructions] Welcome, gentlemen, and please begin your presentation.

Corey Giasson
President, CEO & Director

Thank you, Martin. Good afternoon, everyone, and welcome to MustGrow’s Q2 2026 Earnings Call and question-and-answer session. Before I begin, I’d like to draw your attention to our disclaimer. Forward-looking statements are going to be made in this presentation and the Q&A session at the end. Again, some of these statements will not come to fruition. This disclaimer can be read on our website at mustgrow.ca.

So last week, we announced the Q2 2026 results. TerraSante sales revenue for the quarter was $75,000. Gross profit — gross loss negative margin of about $17,000. That was due to us shipping product from Asia through air freight into the U.S., and it’s quite costly. As you can see, licensing revenue, we were able to report in Q2 that we had earned licensing revenue of about $1.4 million, and we made the announcement a couple of weeks ago that we received that portion of the cash. So in the Q2 financial statements, it reads as an accounts receivable.

Our expenses continue to normalize without NexusBioAg with about $900,000 quarterly of expenses. And net profit, which includes the discontinued operations of NexusBioAg, we had a profit of about $300,000 versus