ETHEMA HEALTH Corp reported full-year 2025 revenue of $18.76M, up 211.9% from $6.02M a year earlier, while posting a net loss of ($2.18M) and diluted loss per share of $0— according to its 10-K filing for the year ended 2025.
Financial Highlights
| MetricCurrent yearPrior yearYoY change | Revenue¹$18.76M$6.02M211.9% | Net income²($2.18M)($2.06M)(5.5%) | Diluted EPS³$0$0— |
¹ Reported as “Revenues”. ² Reported as “Net loss available to common stockholders of Ethema Health Corporation”. ³ Reported as “diluted loss per common share”.
Business Highlights
- Revenue growth was driven largely by the acquisition of ERC and Boca Raton detox assets and higher patient counts across the footprint.
- Operational expansion included openings of ARIA Kentucky locations, increased capacity in West Palm Beach, and staffing increases to support higher patient volumes.
- Management completed multiple long-term leases, including related-party leases, to secure treatment locations and scale operations.
- Late 2025 reductions in reimbursement from a significant payer prompted service cuts and operational restructuring implemented in 2026.
Original SEC Filing:
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