Mercanto Holdings Inc. reported $887,862 in revenue for the three months ended April 30, 2025 (Q3 2025) and a net loss of $88,367.
The company, formerly known as The Good Shroom Co Inc, saw revenue decline 21.8% year-over-year compared to Q3 2024, while losses increased by 386.5% compared to a $30,840 profit in Q3 2024. Mercanto attributes net losses to non-cash expenses totalling $47,349 (comprising share-based compensation and depreciation), as well as an inventory write-down of $20,564. Adjusting for these items, the normalized operational loss was $20,454. The company, a micro processor in Quebec, says sales during the quarter remained stable, driven by performance with the company’s primary customer in Quebec, which represented approximately 82% of quarterly revenue. As at April 30, 2025, 98% of receivables are from Quebec. It has also had listings in Alberta, Ontario and Prince Edward Island. Mercanto sells under the brand Seul CDB. The company has also launched its Deckies THC pouches in Ontario and plans to launch this product in Saskatchewan and New Brunswick in the upcoming quarters. Mercanto also received approval to launch one of only two batteries to be sold in all Quebec authorized retailers beginning in November 2025, concurrent with the launch of the vape cartridge category in the province. The company says it expects 25 different vape SKUs to be available in Quebec and has participated in the province’s vape cartridge submission process, with results expected to be announced in the coming weeks. “With the upcoming launch of vapes in Quebec, we are uniquely positioned to benefit from a tightly controlled product rollout where shelf space is limited and quality matters,” said Ronsse. “We expect our hardware distribution to be financially positive.” Mercanto also sells its non-cannabis Teonan beverages, but has pulled them from the US market during the most recent quarter. This decision was made based on market uncertainty related to tariffs, as well as shifting costs, which made continued efforts in the US market challenging. Teonan will remain available for sale in Canada both online and in retail locations The company incurred $131,306 in excise taxes on its $887,862 in revenue, a rate of 14.8%.
