Blum Holdings Posts Third Straight Quarter Of Cannabis Revenue Growth In Q3 As New Acquisitions Boost Sales

California cannabis company Blum Holdings, Inc. (OTCQB: BLMH) reported on Friday its third consecutive quarter of revenue growth in the third quarter. Revenue increased 39% over consecutive quarters from $3.5 million in the second quarter of fiscal 2025 to $4.8 million in the third quarter. That’s due to the acquisitions of the Redding store during the period.

The Downey-based company praised its “continued operational progress in the post-restructuring expansion,” and efforts to “capitalize on a unique market opportunity to acquire premium cannabis assets at distressed valuations to increase revenue.”

Sabas Carrillo, the company’s CEO, is of the same stance.

“2025 has been the year we’ve turned recovery into disciplined growth,” Carrillo said in a statement. “Our consistent quarterly growth, stable margins, and identified working-capital leverage point to a stronger, structured company. While integration continues, our focus turns to converting this growth into profitability and strengthening our balance sheet.”

Q3 2025 Financial Highlights

• Gross margin was 48%, slightly down from 49% in the prior quarter.
• Operating expenses amounted to $3.8 million, representing a 53% increase from $2.5 million in the second quarter.
• Net loss from operations was $1.5 million, compared to $0.8 million in the prior period.
• Adjusted EBITDA came in negative at $1.3 million, compared to $0.6 million in the second quarter.
• Total assets increased by $20.3 million compared to year-end 2024, primarily due to the acquisitions of two new retail stores.

BLMH Price Action

Blum Holdings’ shares traded 7.35% higher at $0.63 per share at the time of writing on Friday morning.