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MARKETS / BALCAO / CWLXF
BALCAO · MEDICINAL CHEMICALS & BOTANICAL PRODUCTS · SMALL CAP

C21 Investments Inc. CWLXF

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$32.6M
▲ 8.3% YoY
$-3.2M
$1.1M
▲ 16.6% YoY
In brief

What this company does

The Company is a vertically integrated cannabis company that cultivates, processes, distributes and sells quality cannabis and hemp-derived consumer products in Nevada, U.S.A. The Company currently holds licenses in Nevada, spanning the entire cannabis supply chain. Silver State manufactures Hood Oil cartridges, Phantom Farms pre-rolls, and flower strains, together with the Silver State branded products which include Flower, pre-rolls, and concentrates. The Company operates three dispensaries with the acquisition of the third store completed on June 7, 2024. On June 7, 2024, the Company closed the acquisition of all the assets of a 6,500 square-foot, purpose-built, operational retail cannabis dispensary located in Reno, Nevada from Deep Roots.

Written from the business description in C21 Investments Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 June 2026. Every sentence was checked against that document before publication.

Growth
USD 32.6M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 32.6 · Net income -3.2
20M-4M202020212022202320242025
Compound annual growth
+4.1%
−0.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −0.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−10 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 7.0% · Net -9.9%
10%20%30%-10%-20%202020212022202320242025
ROE
FY2025 · ROE -12.0%
10%20%30%-10%-20%-30%202020212022202320242025
Gross margin41.7%
Operating margin7.0%
Net margin-9.9%
Return on assets-5.8%
EBITDAUSD 4.1M

Each USD of equity lost 12 cents this year.

Cash & shareholders
USD 103,034.00
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 1.1
4M8M202020212022202320242025
Net buybacks $ Dividends $
FY2025 · Dividends — · Net buybacks 103034.0
100000200000202320242025
Dividends paid—
Net buybacksUSD 103,034.00
Share of profit-3.2%
Consecutive raises—

USD 103,034.00 in buybacks went back to shareholders in a year without profit.

Total assetsUSD 54.4M
EquityUSD 25.4M
Current ratio1.30×

Equity funds 47% of total assets.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.00.00.00.00.00.0
Operating income $B0.00.00.00.00.00.0
EBITDA $B0.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.0
Net income $B−0.0−0.0−0.00.00.0−0.0
Free cash flow $B0.00.00.00.00.00.0
EPS, diluted $−0.03−0.03−0.030.000.08−0.07
Dividend / sh $······
Payout %······
ROE %−12.0−13.3−10.10.934.9−33.7
Shares out B0.120.120.120.120.120.12

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 29 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 66 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityMedicinal Chemicals & Botanical Products
Listed onOTC market
Incorporated inoutside the United States — SEC code A1
Fiscal year endsMarch 31
SEC categoryemerging growth company
Data on record since2020

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