MediPharm Labs (OTC:MEDIF) reported first-quarter financial results on Wednesday. The transcript from the company’s first-quarter earnings call has been provided below.
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View the webcast at https://events.q4inc.com/attendee/116870256
Summary
MediPharm Labs reported Q1 2026 revenue of CAD 9.0 million, a decrease from CAD 10.8 million in Q1 2025, attributed to typical seasonality and market adjustments in Australia.
The company achieved a positive adjusted EBITDA of CAD 0.1 million, reflecting improved margin quality and reduced operating expenses.
Strategically, the company focuses on leveraging its regulatory and licensing platform to drive growth in international medical markets such as Germany, France, and Brazil, and maintaining a strong presence in Australia.
MediPharm Labs is well-positioned to benefit from the US Schedule 3 announcement by supporting regulated pharmaceutical and research activities with its FDA-inspected facility and relevant licenses.
The company is pursuing a deliberate and disciplined growth strategy, combining organic execution and selective M&A opportunities, with an emphasis on margin quality and regulatory alignment.
Full Transcript
OPERATOR
Thank you for standing by and welcome to the MediPharm Labs conference call to discuss the company’s 2026 Q1 results. Our speaker on today’s call is Greg Hunter, Interim CEO and Chief Financial Officer. As a reminder, all participants are in a listen only mode and the conference is being recorded. After management’s presentation, we will take questions from the analyst community on the telephone and then take written questions through the Q and A feature on the webcast. The information during this call should be considered together with the more detailed information, disclosure, financial data and statements available on the Company’s website and on the Sedar Plus profile at SedarPlus CA as set out on the webcast slide. I would like to note that remarks during this earnings call may contain forward looking information and forward looking statements within the meaning of applicable security laws. This includes, without limitation statements about medifarm Labs and its current and future plans, expectations, intentions, financial results, operations, levels of activity, performance goals or activities, achievements and other future events, trends, profitability, business growth or developments. All statements other than statements of historical fact are forward looking statements. The statements made are based on the Company’s current expectations, estimates and beliefs as of today’s date. The Company’s remarks may also contain references to certain non IFRS financial measures, including adjusted ebitda. These measures do not have any standardized meaning according to International Financial Reporting Standards or ifrs and therefore may not be comparable to similar measures presented by other companies. Please review the Company’s most recent disclosure materials filed on Sedar Plus for the risks associated with forward looking information and the use of non IFRS financial measures, including the section titled Reconciliation of Non IFRS Measures in the Company’s most recent MD&A available on Sedar Plus. Please note that all dollar amounts mentioned on today’s call are in Canadian dollars unless otherwise noted. And now I would like to turn the call over to Mr. Greg Hunter. Please go ahead.
Greg Hunter (Interim CEO and Chief Financial Officer)
Thank you operator and good morning everyone. This morning I’ll briefly revisit MediPharm’s core differentiators, outline how we’re building on that foundation to drive growth in 2026, and then walk through our first quarter results including the return to positive adjusted EBITDA. As we discussed in our Q4 call, MediPharm is not a single market or single product company. We operate across four distinct revenue channels supported by a regulatory and licensing platform that is both rare and difficult to replicate from a regulatory standpoint. MediPharm holds a unique combination of licenses which takes years to obtain and millions of dollars to develop. Notable Licenses include a Health Canada Drug Establishment license, EU GMP certification and ANVISA GMP certification from Brazil, TGA compliance in Australia, an FDA inspected facility with prior shipments of pharmaceutical grade APIs into the United States for research and clinical studies and we maintain licenses and registrations that support natural health product development should that pathway evolve. In Canada, these capabilities are operational enablers. They determine where we can participate, which formats we can offer and the type of partners we can support. As a result, MediPharm is often selected because we are a trusted, compliant and dependable partner, not because we are the lowest cost option in regulated medical and pharmaceutical channels. That distinction matters and it underpins both our commercial relationships and our long term strategy. As regulatory standards continue to evolve globally, this platform increasingly differentiates MediPharm in regulated medical and pharmaceutical channels. That differentiation was reinforced by the recent US Schedule 3 announcement which lowered barriers to clinical research and pharmaceutical development involving cannabis derived products. We believe MediPharm is well positioned to support these regulated pharmaceutical and research activities given our FDA inspected facility, Health Canada Drug Establishment license and experience supplying pharmaceutical grade cannabinoids for research and clinical use. Building on what makes MediPharm unique, I would like to take some time to expand on our strategy for growth which is deliberate, diversified and disciplined spanning both organic execution and selected inorganic opportunities. Organically, our growth strategy is focused on maximizing the value of the platform we have spent years and millions of dollars to build. International medical remains a key growth engine. We continue to expand our Beacon and Wildlife branded products in Germany which supports more stable demand and a stronger margin profile over time. At the same time, we remain active in white label flower opportunities on only participating where margin thresholds and partner quality meet our standards. We continue to invest in non-smokable and pharmaceutical grade formats including oils and inhalation technologies which align with tightening regulatory expectations and patient demand while differentiating MediPharm from commodity suppliers. Australia remains a key market and we are adapting to pricing and prescribing changes by protecting the premium beacon positioning in addition to launching products in the value segment under our Wildlife portfolio, allowing us to cover a broader portion of the market without diluting our core brand. We are pursuing targeted geographic expansion in regulated medical markets such as France, Brazil, New Zealand and the UK where we have had recent success and our licensing and pharmaceutical-grade credentials deliver a competitive advantage in domestic medical. Our growth strategy is centered on protecting and optimizing high value regulated patient base. We remain focused on continuity of care, service quality and reliability particularly for veteran patients where trust and consistency matter most following the recent veteran reimbursement changes we discussed on the Q4 call. Our approach is grounded in operational discipline including cost control, procurement efficiency and thoughtful product mix management while continuing to prioritize patient outcomes. We are expanding third party medical partnerships and platform listings, increasing access to MediPharm products beyond our own channels and broadening SKU availability where it makes economic sense. Our clinic platform continues to provide capital, efficient patient access, supporting engagement, education and retention. Overall, domestic medical continues to be a core channel where disciplined execution and patient loyalty are paramount. In pharma and B2B, we continue to leverage our drug establishment license, clinical trial experience and our expansive manufacturing capabilities to support long term pharmaceutical optionality and capital light contract manufacturing opportunities in adult use and wellness. MediPharm’s strategy remains intentionally …
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