Stock

Vext Science

VEXT.CN

Drug Manufacturers - Specialty & Generic · Healthcare

Price

C$0.27

-0.01 (-1.85%)

Market Cap

C$65.6M

Exchange

Canadian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Sep 11, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+69.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 146.4M (2021) → 247.6M (2025)

§Winston Score History

The full picture

Vext Science is a cannabis company that grows, processes, and sells marijuana products in the United States. It operates primarily in Arizona and Ohio, running cultivation facilities and retail dispensaries under the Vext brand. The company sells flower, concentrates, edibles, and vape products to adult-use and medical cannabis customers.

Vext makes money by selling cannabis products through its own dispensaries and to third-party retailers at wholesale. It is a small company with a market cap around $100 million, focused on limited-license state markets where regulatory barriers help reduce competition. The company has been operating at a loss, and its key challenge is reaching consistent profitability while navigating complex state-by-state cannabis regulations and the lack of federal legalization in the US.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-11.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+78.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~5 years

$5M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$5M cash & investments at current burn rate

Revenue declining

Vext Science's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

14.9%

Thin — 14.9% gross margin

Profit after running costs

Operating Margin

-14.8%

Losing money on operations — -14.8%

Return on the money invested

ROCE

-10.9%

Weak — -10.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+14.1%

Fast-growing sales (+14.1% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

6.9%

Modest free cash flow (6.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.57

Conservative — low debt load (0.57)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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