Revenue has collapsed alongside persistent margin deficits, evidenced by a -14.5% operating margin in 2025Q4 as overhead costs continue to outpace gross profit.
| Sales/Revenue | 258.07K | 836.66K | 2.16M | 2.62M | 41.43K | 2.06K |
| Revenue Growth % | -69.15% | -61.27% | -17.55% | 6223% | 1909.26% | - |
| Cost of Goods Sold | 414.1K | 628.28K | 2.05M | 649.88K | 756.16K | 1.81K |
| COGS % of Revenue | 160.46% | 75.09% | 94.84% | 24.81% | 1825.1% | 87.73% |
| Gross Profit | -156.02K | 208.38K | 111.45K | 3.27M | -714.73K | 253 |
| Gross Margin % | -60.46% | 24.91% | 5.16% | 124.81% | -1725.1% | 12.27% |
| Gross Profit Growth % | -174.87% | 86.98% | -96.59% | 557.46% | -282600.4% | - |
| Operating Expenses | 4.83M | 4.59M | 10.16M | 22.15M | 6.12M | 1.67M |
| OpEx % of Revenue | 1870.54% | 548.71% | 470.49% | 845.38% | 14769.13% | 80799.61% |
| Selling, General & Admin | 4.39M | 4.45M | 5.88M | 19.85M | 5.81M | 1.36M |
| SG&A % of Revenue | 1702.49% | 531.85% | 272.17% | 757.63% | 14023.27% | 65896.51% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 433.69K | 141.05K | 4.28M | 2.3M | 309.02K | 307.3K |
| Operating Income | -4.98M | -4.38M | -10.05M | -20.18M | -2.57M | -1.67M |
| Operating Margin % | -1930.99% | -523.8% | -465.33% | -770.18% | -6203.45% | -80787.34% |
| Operating Income Growth % | -13.71% | 56.4% | 50.18% | -685.03% | -54.29% | - |
| EBITDA | -4.55M | -4.24M | -5.77M | -16.58M | -2.26M | -1.42M |
| EBITDA Margin % | -1762.94% | -506.95% | -267.01% | -632.83% | -5457.58% | -68724.15% |
| EBITDA Growth % | -7.27% | 26.46% | 65.21% | -633.18% | -59.56% | - |
| D&A (Non-Cash Add-back) | 433.69K | 141.05K | 4.28M | 3.6M | 309.02K | 248.74K |
| EBIT | -46.44M | -3.17M | -32.02M | -8.12M | -2.46M | -1.66M |
| Net Interest Income | -925.09K | -93.61K | -255.62K | -114.44K | -10.42K | -634.97K |
| Interest Income | 0 | 6.49K | 39 | 886 | 90 | 10.19K |
| Interest Expense | 925.09K | 100.11K | 255.66K | 115.32K | 10.51K | 645.16K |
| Other Income/Expense | -42.38M | 1.11M | -22.22M | 11.94M | 96.45K | -634.87K |
| Pretax Income | -47.37M | -3.27M | -32.28M | -8.24M | -2.47M | -2.3M |
| Pretax Margin % | -18353.93% | -390.65% | -1494.18% | -314.37% | -5970.66% | -111569.88% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -45.65M | -4.1M | -32.28M | -11.66M | -8.13M | -2.3M |
| Net Margin % | -17690.19% | -489.57% | -1494.18% | -445% | -19625.88% | -111569.88% |
| Net Income Growth % | -1014.59% | 87.31% | -176.86% | -43.37% | -253.44% | - |
| Net Income (Continuing) | -47.37M | -3.27M | -32.28M | -8.24M | -2.47M | -2.3M |
| Discontinued Operations | 507.6K | -827.62K | -28.56M | -3.42M | -5.66M | 0 |
| Minority Interest | -1.21M | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -662.22 | -257.60 | -999999.00 | -16828.00 | -14066.48 | -3980.00 |
| EPS Growth % | -157.07% | 99.99% | -16928.36% | -19.63% | -253.43% | - |
| EPS (Basic) | -662.22 | -257.60 | -999999.00 | -16828.00 | -14066.48 | -3980.00 |
| Diluted Shares Outstanding | 68.94K | 16.67K | 11 | 693 | 578 | 578 |
| Basic Shares Outstanding | 68.94K | 16.67K | 11 | 693 | 578 | 578 |
| Dividend Payout Ratio | - | - | - | - | - | - |
Imminent liquidity and insolvency
As reported in recent financial filings, Akanda's revenue has experienced a severe contraction, highlighted by a 28.2% year-over-year decline in 2025Q4, which underscores the company's inability to maintain a stable commercial footprint following the loss of its primary cultivation assets in Lesotho.
The consistent downward trend in top-line performance suggests that the company has struggled to transition from a vertically integrated producer to a pure-play distributor. Investors should monitor whether the current revenue base can stabilize or if the lack of proprietary supply will lead to further market share erosion.
Based on the provided income statement data, Akanda's gross margin profile remains deeply negative, with the most recent quarter showing a -3.5% margin, indicating that the cost of goods sold continues to exceed the revenue generated from its medical cannabis distribution activities.
This persistent margin compression suggests a fundamental lack of pricing power and an inefficient procurement model. The inability to achieve positive gross margins implies that the company's current business model may not be economically viable without a significant shift in its supply chain strategy.
According to the company's historical income statements, operating expenses consistently dwarf gross profit, resulting in an operating margin of -14.5% in 2025Q4, which demonstrates that the firm's fixed administrative costs are far too high relative to its current, diminished scale of operations.
The disconnect between SG&A spending and revenue generation indicates that the company is carrying a heavy corporate burden that its current commercial output cannot support. This structure appears to leave little room for operational flexibility, as fixed costs continue to weigh heavily on the bottom line.
As indicated by the extreme volatility in net income, including a $44.8 million loss in 2025Q4, the company's financial results appear heavily influenced by non-operating items and potential asset impairments, which warrants further investigation into the true underlying health of the remaining business.
Short-sellers would likely focus on the potential for further write-downs of intangible assets and the high probability of continued shareholder dilution to fund operations. The reliance on external financing to cover persistent losses suggests that the company's survival remains contingent on factors outside of its core operational performance.
Quick answers to the most common questions about buying AKAN stock.
For fiscal year 2025, Akanda Corp. (AKAN) reported total revenue of $0.3M. This represents a 12415.8% increase compared to $0.0M in 2020.
Akanda Corp. (AKAN) reported a net loss of $45.7M for the fiscal year ending 2025.
Akanda Corp. (AKAN) reported an operating income of $-5.0M, resulting in an operating profit margin of -1931.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Akanda Corp. (AKAN) generated $-0.2M in gross profit for the year, representing a gross profit margin of -60.5%. This demonstrates the company's core pricing power and production efficiency.