Filing Flows › Advanced Flower Capital (AFCG) › Q3 2025
Advanced Flower Capital (AFCG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Advanced Flower Capital (AFCG) reported revenue of $6.5M for the third quarter 2025 (Q3 2025), -26% from a year earlier and +5% from the quarter before. Operating margin was -204.6%, net loss $12.5M (191.3% of revenue).
Advanced Flower Capital, Q3 2025: revenue $6.5M (-26% year over year), operating margin -204.6%, net loss $12.5M, operating cash flow $6.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.5M | +5% | -26% |
| Operating profit | −$13.4M | — | — |
| Net earnings | −$12.5M | — | — |
| Operating cash flow | $6.1M | +247% | +131% |
What changed
Revenue was $6.5M in Q3 2025, down 26% year over year and up 5% from the previous quarter.
Operating costs exceeded revenue by $13.4M, an operating margin of -204.6%. Total costs grew 173% against a revenue fall of 26%. The fastest-growing cost line was Other operating costs (+199%). The quarter ended with a net loss of $12.5M, narrower than the previous quarter's $13.2M loss.
Operating cash flow was $6.1M (up 131% year over year). Non-cash charges added back $487K of share-based compensation. Working capital and other items added $18.1M.
Questions
What was Advanced Flower Capital's revenue in the third quarter 2025?
Advanced Flower Capital (AFCG) reported revenue of $6.5M for the third quarter 2025 (Q3 2025), -26% from a year earlier and +5% from the quarter before.
Was Advanced Flower Capital profitable in the third quarter 2025?
Operating loss was $13.4M (-204.6% of revenue) and net loss $12.5M.