November 27, 2025 — Leads & Copy —
GLG Life Tech Corporation (NEX:GLG.H) has announced its financial results for the three and nine months ended September 30, 2025. The company, a global leader in the agricultural and commercial development of high-quality zero-calorie natural sweeteners, reported revenues of $2.1 million in the third quarter, a 36% decrease compared to the $3.4 million reported in the third quarter of 2024. Revenue for the first nine months of 2025 was $8.2 million, a 22% decrease compared to $10.5 million for the same period in 2024.
The company reported a net loss per share from continuing operations of $0.13 for the third quarter, compared to a net loss per share of $0.09 for the third quarter of 2024. Net income per share from continuing operations was $0.40 for the first nine months of 2025, compared to a net loss per share of $0.30 for the same period in 2024.
The company reported a net loss attributable to the Company from continuing operations of $5.2 million for the three months ended September 30, 2025, an increase in net loss of $1.6 million over the comparable period in 2024, which was a net loss of $3.5 million. For the nine months ended September 30, 2025, the company had net income attributable to the Company from continuing operations of $15.4 million, an increase in net income of $26.9 million over the comparable period in 2024, which was a net loss of $11.5 million. The nine-month net income figures include the final disposition of the company’s former Runhai subsidiary, following a shareholder vote earlier in the year to transfer the subsidiary, including the subsidiary’s debts and assets.
A decrease in unit prices on many of the company’s products relative to 2024, amidst a highly competitive pricing landscape in the overall stevia market, contributed to the 36% decrease in revenue, as did a decrease in unit volumes delivered. Decreases in unit prices, driven by overall market pricing pressures, and units sold for many of the Company’s products relative to the comparable 2024 period, were primarily responsible for the 22% revenue decrease in the first nine months of 2025.
The company continues its efforts to closely manage its SG&A expenses, reducing them by $0.1 million, or 23%, in the third quarter, compared to the third quarter of 2024, and by $0.5 million, or 34%, over the first nine months of 2025, relative to the 2024 comparable period.
GLG Life Tech held its Annual General and Special Meeting on May 22, 2025, at which shareholders voted in all five nominated directors, with favorable votes for each exceeding 99%. Dr. Luke Zhang continues as Chairman of the Board and Chief Executive Officer, and Brian Palmieri continues as Vice Chairman of the Board. Liu Yingchun, Simon Springett, and David Bishop continue as directors of the company.
At the Shareholder Meeting, one of the matters voted on was the transfer of the company’s Anhui Runhai Joint Stock Technology Co., Ltd. (“Runhai”) subsidiary to Fengyang Xiaogang Hongzhang Health Industrial Park Co. Ltd (“Xiaogang”). Shareholders nearly unanimously approved the transfer, with votes for the transfer exceeding 99.99% at the May 22, 2025, meeting. Management has reflected the results of the transfer in its second quarter interim financial filings.
GLG Life Tech will continue to maintain its production focus through its operations at HHY, and the company has been able to seamlessly service the needs of its global customers with ample headroom to grow its sales volumes. Opting for a contract manufacturing arrangement with HHY, a purely Chinese entity, instead of maintaining direct ownership of Chinese facilities, has enabled the company to bring major improvements to its balance sheet and significantly mitigate the risk of actions that could be taken by the Chinese government at a time where macroeconomic and geopolitical factors have in recent months become more chaotic.
The company had been cease-traded as a result of its delay in filing its 2023 full-year financials (since filed, on June 28, 2024), pursuant to a British Columbia Securities Commission order, and the company was also delayed in filing its interim first quarter financials for 2024 (filed on July 23, 2024). The Company has since transferred its listing to the NEX exchange, where it is currently listed as of September 4, 2024.
While revenue trends were increasing from late 2023 into early 2025, Management has more recently observed indications that the growth trend is at present no longer being sustained. It is possible that customers’ purchasing flows are being impacted by concern over global macroeconomic factors and/or weakening consumer demand across an array of end customer products.
Simon Springett, Investor Relations
Phone: +1 (604) 669-2602 ext. 101
Email: ir@glglifetech.com
GLG Life Tech Corporation is a global leader in the supply of high-purity zero calorie natural sweeteners including stevia and monk fruit extracts used in food and beverages. For further information, please visit www.glglifetech.com.
Source: GLG Life Tech Corporation
