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FLGC

Flora Growth Corp.

FLGC

Flora Growth Corp. • NASDAQ
$8.26 ▲ 3.19% (+0.26)
Market Cap $4.48 M
52w High $81.90
52w Low $6.80
Dividend Yield 0%
P/E -0.2
Volume 3.39K
Outstanding Shares 542.54K

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.748M ▼ $3.601M ▼ $-6.659M ▼ -68.311% ▼ $0 ▲ $-3.347M ▼
Q2-2025 $14.796M ▲ $5.396M ▲ $-2.412M ▼ -16.302% ▼ $-4.38 ▼ $-2.112M ▼
Q1-2025 $11.786M ▼ $3.865M ▼ $-758K ▲ -6.431% ▲ $-3.98 ▼ $-487K ▲
Q4-2024 $13.326M ▲ $8.567M ▲ $-6.13M ▼ -46% ▼ $-1.35 ▼ $-5.782M ▼
Q3-2024 $12.465M $6.531M $-3.773M -30.269% $-0.83 $-3.711M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.1M ▲ $74.016M ▲ $9.096M ▼ $64.92M ▲
Q2-2025 $1.471M ▼ $22.667M ▲ $18.644M ▲ $4.023M ▼
Q1-2025 $3.676M ▼ $22.395M ▼ $17.637M ▼ $4.758M ▲
Q4-2024 $6.017M ▲ $26.227M ▼ $21.717M ▼ $4.51M ▲
Q3-2024 $4.209M $29.284M $24.097M $4.25M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.627M ▼ $118.585K ▲ $-9.235K ▲ $10.711M ▲ $11.619M ▲ $-309.57K ▲
Q2-2025 $-2.412M ▼ $-2.888M ▼ $-1.073M ▼ $1.512M ▲ $-2.205M ▲ $-2.953M ▼
Q1-2025 $-758K ▲ $-2.728M ▼ $437K ▲ $0 ▼ $-2.341M ▼ $-2.752M ▼
Q4-2024 $-6.13M ▼ $-1.253M ▲ $-3.606K ▼ $3.259M ▲ $1.808M ▲ $-1.251M ▲
Q3-2024 $-2.299M $-2.083M $235.237K $-241.272K $-1.918M $-2.103M

Five-Year Company Overview

Income Statement

Income Statement Flora Growth (rebranding to ZeroStack) is still a very small, early‑stage business in revenue terms. Sales have been modest and uneven, with only a thin layer of gross profit and no track record of consistent growth. Operating costs clearly outweigh revenues, so the company has been loss‑making every year shown. Net losses were especially deep in the middle of the period and, while they have narrowed somewhat more recently, the business is still far from break‑even. The reverse stock splits and very negative per‑share results highlight how much value has been eroded for existing shareholders over time. Overall, the income statement tells a story of a company that has not yet found a profitable, scalable core business and is now betting on a very different model in decentralized AI.

Balance Sheet

Balance Sheet The balance sheet is light and has been shrinking. Total assets have come down from earlier levels, and the cash position is modest, giving the company only a limited financial cushion. On the positive side, there is essentially no traditional financial debt, so the company is not heavily burdened by interest obligations. However, shareholders’ equity has been steadily chipped away by repeated losses and now sits at a very thin level, indicating little room for prolonged missteps. In simple terms, the company does not appear overleveraged, but it also does not have a deep pool of resources to fund ambitious plans without relying on new capital or asset value increases.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, although the absolute amounts are relatively small, reflecting the company’s small scale. Free cash flow has tracked operating cash flow because capital spending has been minimal. This pattern indicates a business that is burning cash every year, even if not at huge absolute levels, and that is not yet self‑funding. The persistence of cash outflows means the company depends on external funding, financial engineering, or appreciation in digital assets to keep going and to support its new strategy. Until there is either a clearer revenue ramp or a structural change in costs, the cash flow profile remains fragile.

Competitive Edge

Competitive Edge Historically, Flora Growth competed in cannabis and CBD, spaces that are crowded, heavily regulated, and price‑sensitive, which likely contributed to its weak financial performance. The pivot to decentralized AI and blockchain (via the 0G ecosystem) changes the competitive set entirely. The new angle is to be an early, publicly traded “gateway” to a specific decentralized AI platform, which is unusual and gives the company a niche identity. However, this edge is narrow and heavily tied to the success and perception of a single ecosystem and its token, rather than to a broad portfolio of differentiated products or services. The AI and blockchain fields are intensely competitive, fast‑moving, and filled with well‑funded players. ZeroStack’s position is more that of a specialized proxy or treasury vehicle than a diversified operator, which creates concentration risk and makes its competitive standing highly dependent on 0G’s adoption and token value.

Innovation and R&D

Innovation and R&D The innovation story is less about in‑house research and more about strategic alignment with the 0G decentralized AI ecosystem. The company is effectively outsourcing the heavy technical lifting to 0G, whose platform promises much more efficient AI model training using distributed computing, and a full suite of blockchain‑based tools for compute, storage, and data access. ZeroStack’s “R&D” leverage comes from its deep involvement and governance ties to 0G, plus any initiatives it undertakes to help build applications, marketplaces, or services on top of that infrastructure. This is a bold and unconventional model: if 0G gains traction and meaningful applications emerge, ZeroStack could benefit significantly without bearing the full technical development burden. But if 0G’s technology fails to gain real‑world adoption or if digital asset markets turn against it, the company’s innovation bet could yield very little. The risk‑reward profile here is unusually high and strongly linked to a single external platform’s success.

Summary

Overall, Flora Growth/ZeroStack is transitioning from a small, unprofitable cannabis‑related company with a thin balance sheet into a highly focused, high‑risk play on decentralized AI and blockchain through the 0G ecosystem. The financials show a long stretch of losses, ongoing cash burn, and limited capital resources, but also a lack of conventional debt. The strategic pivot offers a new narrative and exposure to a cutting‑edge area, yet it concentrates the company’s fate in a speculative and volatile space, much of it outside traditional financial and regulatory norms. Future outcomes will be driven far more by the development, adoption, and market perception of 0G and its token than by the legacy operating business. Anyone evaluating this company is essentially assessing a speculative, binary‑leaning transformation story with meaningful upside potential but also significant downside and execution risk, rather than a mature operating enterprise with predictable cash flows.

NEWS

October 21, 2025 · 8:00 AM UTC

Flora Growth Corp. Announces Second Purchase of 0G, the Fuel of the 0G Decentralized AI Network

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October 16, 2025 · 8:00 AM UTC

Flora Growth Corp. Appoints BitGo as Custodian for $0G Treasury

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October 8, 2025 · 8:00 AM UTC

Flora Growth Corp. Announces First Purchase of 0G, the Fuel of the 0G Decentralized AI Network

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September 19, 2025 · 6:53 PM UTC

Flora Growth Corp. (FLGC) Announces $401 Million Funding with a $22.88 Million Strategic Investment from Defi Development Corp. (DFDV) to Initiate Groundbreaking AI Zero Gravity ($0G) Coin Treasury Strategy

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