Vext Reports Q3 2026 Financial Results; Record Quarterly Revenue of $14.9 Million; Operating Cash Flow of $2.4 Million

Eric Offenberger, CEO of Vext

“Ohio drove the quarter, with revenue up 37% from a year ago as our Fairfield dispensary completed its first full quarter and the flower we grow in Jackson found buyers well beyond our own stores. We also made a deliberate decision to slow production and sell through the inventory we built in the first half of the year. Selling it through weighed on margin this quarter, as did the temporary closure of our Jackson dispensary and the Vapen hold in September, but that inventory turned into cash and our operating cash flow doubled from the second quarter.”

Eric Offenberger, CEO of Vext

“Every decision we made this quarter came back to putting our capital where it earns the best return. In Ohio, that meant buying the Jackson facility that supplies our stores, so we now own it rather than lease it. In Arizona, where our manufacturing plant no longer has the volume to cover its costs, it meant considering other options and, following the quarter, we listed the property for sale and began focusing the operation on packaging for our own dispensaries. Some of what we worked through this quarter will carry into the fourth quarter as we return to normal operations after the hold and scale back Phoenix, but the direction is clear: more of our own product on Ohio shelves, our seventh and eighth Ohio dispensaries expected to open in Columbus and Amelia in 2027, and growth primarily funded by the cash this business generates.”