Flora Growth Corp. (FLGC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da cannabis medicinal, a Flora Growth Corp. (FLGC) surge como uma força pioneira, alavancando estrategicamente o terreno fértil da Colômbia e o ambiente regulatório progressivo para revolucionar a indústria global de cannabis. Ao criar meticulosamente um modelo de negócios abrangente que entrelaça o cultivo sustentável, a pesquisa de ponta e o desenvolvimento inovador de produtos, o FLGC está se posicionando como um participante transformador nos mercados de cannabis médicos e de bem-estar. Sua abordagem única combina produção de baixo custo, tecnologias agrícolas avançadas e um portfólio diversificado de produtos que promete remodelar como percebemos e utilizamos cannabis medicinal em escala internacional.

Flora Growth Corp. (FLGC) - Modelo de negócios: Parcerias -chave

Cultivadores e processadores de cannabis na Colômbia

O crescimento da flora mantém parcerias com os cultivadores locais de cannabis colombianos em 270 hectares de terras agrícolas licenciadas. A empresa possui acordos de cultivo direto com 12 cooperativas agrícolas locais nas regiões de Cauca e Huila.

Detalhes da parceria	Métricas
Área total de cultivo licenciado	270 hectares
Número de cooperativas agrícolas locais	12
Regiões de cultivo primário	Cauca e Huila

Distribuidores internacionais de cannabis medicinal

O crescimento da flora estabeleceu parcerias de distribuição em vários mercados internacionais, incluindo:

• Estados Unidos
• Canadá
• Alemanha
• Israel
• Reino Unido

Fornecedores de Equipamentos de Tecnologia Agrícola e Cultivo

Parceiro de tecnologia	Equipamento/serviço específico
Agrotech Solutions Inc.	Sistemas de irrigação de precisão
Tecnologias Growcontrol	Equipamento de monitoramento climático
Diagnóstico do SoilHealth	Ferramentas de análise de nutrientes do solo

Instituições de pesquisa para desenvolvimento de produtos

O crescimento da flora colabora com centros de pesquisa acadêmica, incluindo:

• Universidad Nacional de Colômbia
• Universidad del Cauca
• Centro Internacional de Pesquisa de Cannabis

Empresas farmacêuticas e de bem -estar globais

Empresa	Foco de colaboração
MedCann Pharmaceuticals	Desenvolvimento de produtos de cannabis medicinal
Wellnessglobal Inc.	Formulação do produto de bem -estar do consumidor

Flora Growth Corp. (FLGC) - Modelo de negócios: Atividades -chave

Cultivo de cannabis orgânico na Colômbia

O Flora Growth opera uma instalação de cultivo de cannabis de 3,4 hectares em Santa Marta, Colômbia. A empresa garantiu Licenciamento para o cultivo de mais de 300 acres de terra.

Métricas de cultivo	Detalhes
Terras totais licenciadas	300 acres
Cultivo ativo atual	3,4 hectares
Capacidade de produção anual	20.000 kg de biomassa de cannabis

Fabricação de produtos de cannabis medicinal

O crescimento da flora produz produtos de cannabis medicinal através de seus Instalação de fabricação certificada por GMP.

• Fabricação de formulações baseadas em CBD e THC
• Linhas de produtos para cuidados com a pele e bem -estar
• Extratos e derivados de cannabis medicinal

Exportação e distribuição internacional de cannabis

A empresa exporta produtos de cannabis para vários mercados internacionais, incluindo os Estados Unidos, Canadá e países europeus.

Mercado de exportação	Status regulatório
Estados Unidos	Distribuição ativa do produto CBD
Canadá	Acordos de exportação de cannabis medicinal
União Europeia	Aprovações regulatórias pendentes

Pesquisa e desenvolvimento de formulações baseadas em cannabis

O crescimento da flora investe em pesquisa contínua e desenvolvimento de formulações inovadoras de cannabis.

• Colaboração com instituições de pesquisa acadêmica
• Desenvolvimento de tecnologias proprietárias de extração de cannabis
• Investimento em pesquisa de cannabis de grau farmacêutico

Conformidade e gerenciamento regulatório

A Companhia mantém uma conformidade rigorosa com os regulamentos internacionais de cannabis.

Conformidade regulatória	Certificação
Boas práticas de fabricação (GMP)	Certificado
Licenciamento da cannabis colombiana	Licença operacional completa
Permissões de exportação internacionais	Múltiplas aprovações de países

Flora Growth Corp. (FLGC) - Modelo de negócios: Recursos -chave

Instalações de cultivo de cannabis licenciadas na Colômbia

A Flora Growth Corp. opera 300 hectares de terras de cultivo de cannabis licenciadas na Colômbia. A empresa mantém 3 instalações de cultivo primário localizado em diferentes regiões do país.

Localização da instalação	Hectares totais	Tipo de cultivo
Santa Marta, Colômbia	150 hectares	Cultivo de cannabis ao ar livre
Região de Medellín	100 hectares	Cultivo de cannabis da estufa
Região de Cali	50 hectares	Cultivo de cannabis interno

Tecnologia agrícola avançada e infraestrutura

A Flora Growth Corp. investiu US $ 4,2 milhões em tecnologias agrícolas e infraestrutura avançadas.

• Sistemas de irrigação automatizados
• Gretos com controle climático
• Equipamento de monitoramento de cultivo de alta precisão
• Tecnologias avançadas de preservação genética

Força de trabalho qualificada com conhecimento de cannabis

A empresa emprega 127 profissionais especializados de cannabis, com uma experiência média do setor de 7,3 anos.

Categoria profissional	Número de funcionários
Especialistas agrícolas	42
Pesquisadores genéticos	23
Especialistas em controle de qualidade	35
Técnicos de extração	27

Programas proprietários de genética e criação de cannabis

Flora Growth Corp. desenvolveu 12 cepas genéticas de cannabis proprietárias, com um investimento de US $ 1,8 milhão em pesquisa e desenvolvimento.

Licenças e certificações regulatórias

A empresa possui várias licenças críticas:

• Licença de Cultivo de Cannabis da Autoridade Nacional de Licenciamento da Colômbia
• Certificação de boas práticas agrícolas e de coleta (GACP)
• ISO 9001: 2015 Certificação do sistema de gestão da qualidade
• Permissão de exportação do Ministério da Saúde da Saúde da Colômbia

Flora Growth Corp. (FLGC) - Modelo de negócios: proposições de valor

Produtos de cannabis medicinal de alta qualidade e econômicos

A Flora Growth Corp. produz produtos de cannabis medicinal com as seguintes especificações:

Categoria de produto	Capacidade de produção	Produção anual
Óleos de cannabis medicinal	500 kg por colheita	2.000 kg por ano
Produtos de bem -estar da CBD	250 kg por colheita	1.000 kg por ano
THC Formulações médicas	150 kg por colheita	600 kg por ano

Cultivo sustentável e ambientalmente responsável

Métricas de cultivo sustentável:

• Uso da água: 60% menor que a agricultura tradicional
• Redução da pegada de carbono: 40% em comparação com o cultivo interno
• Uso de energia renovável: 75% do cultivo alimentado pela energia solar

Portfólio de produtos diversos para mercados médicos e de bem -estar

Segmento de mercado	Tipos de produtos	Penetração de mercado
Cannabis medicinal	Gerenciamento da dor, distúrbios neurológicos	35% de participação de mercado na Colômbia
Produtos de bem -estar	Suplementos CBD, tópicos	25% de participação de mercado na América Latina

Preços competitivos através de produção de baixo custo na Colômbia

Vantagens de custo de produção:

• Custo de cultivo por kg: US $ 50 USD
• Média do mercado global: US $ 150 a US $ 200 USD por kg
• Redução de custos: 70% em comparação com os produtores norte -americanos

Pesquisa e desenvolvimento inovadores de cannabis

Área de foco em P&D	Investimento anual	Parcerias de pesquisa
Formulações de cannabis medicinal	US $ 2,5 milhões	3 colaborações de pesquisa universitária
Desenvolvimento de deformação genética	US $ 1,8 milhão USD	2 Laboratórios Genômicos Internacionais

Flora Growth Corp. (FLGC) - Modelo de Negócios: Relacionamentos do Cliente

Vendas diretas para distribuidores de cannabis medicinal

O crescimento da flora registrou receita total de US $ 8,8 milhões para o ano fiscal de 2022, com uma parcela significativa derivada das vendas diretas de distribuidores de cannabis medicinal.

Canal de vendas	Contribuição da receita	Segmento de mercado
Distribuidores médicos	62% da receita total	Colômbia e mercados internacionais
Produtos de bem -estar	28% da receita total	Mercados domésticos e de exportação

Plataformas de produtos online

O crescimento da flora opera vários canais de vendas digitais, com foco nas estratégias de comércio eletrônico.

• Receita da plataforma digital: US $ 2,5 milhões em 2022
• Taxa de crescimento de vendas on-line: 15,3% ano a ano
• Base de clientes online ativa: aproximadamente 12.000 usuários registrados

Serviços de suporte e consulta ao cliente

A empresa fornece serviços especializados de consulta de cannabis medicinal por meio de equipes de suporte dedicadas.

Canal de suporte	Tempo de resposta	Taxa de satisfação do cliente
Consulta médica	Resposta de 24 horas	87% de feedback positivo
Suporte técnico	4-6 horas em média	Taxa de resolução de 92%

Recursos educacionais sobre cannabis medicinal

O Flora Growth investe em conteúdo educacional abrangente em plataformas digitais.

• Online Webinars Educational: 24 sessões em 2022
• Visualizações totais de conteúdo educacional: 85.000
• Materiais de pesquisa para download: 12 publicações científicas

Abordagem de parceria de longo prazo com clientes

A empresa enfatiza relacionamentos estratégicos de longo prazo com os principais parceiros médicos e de bem-estar.

Tipo de parceria	Número de parcerias ativas	Duração média da parceria
Instituições médicas	17 parcerias ativas	3,5 anos
Marcas de bem -estar	22 acordos colaborativos	2,8 anos

Flora Growth Corp. (FLGC) - Modelo de Negócios: Canais

Equipe de Vendas Internacionais Diretas

A Flora Growth Corp. mantém uma equipe de vendas internacional direta direcionada a vários mercados com maconha e produtos de bem -estar.

Região de vendas	Número de representantes de vendas	Mercados -alvo
América do Norte	8	Estados Unidos, Canadá
América latina	6	Colômbia, Brasil, México
Mercados internacionais	4	Alemanha, Israel, Austrália

Plataformas de comércio eletrônico

O crescimento da flora utiliza vários canais de vendas digitais para distribuição de produtos.

• Site oficial da empresa
• Amazon.com Marketplace
• Loja online shopify

Plataforma	Vendas on -line anuais (2023)	Taxa de conversão
Site da empresa	US $ 1,2 milhão	3.7%
Amazon	$750,000	2.9%
Shopify	$450,000	2.5%

Redes de distribuição de cannabis medicinal

A Flora Growth parceira com distribuidores licenciados de cannabis medicinal em várias jurisdições.

Parceiro de distribuição	Regiões cobertas	Volume anual de distribuição
Pharmacann	Estados Unidos	12.500 kg
MedCannect	Canadá	8.750 kg
Latamed	América latina	6.250 kg

Feiras e conferências do setor

O crescimento da Flora participa de eventos importantes do setor para exibição de redes e produtos.

Nome da conferência	Localização	Custo de participação anual
MJBIZCON	Las Vegas, EUA	$125,000
Cannameeting	Berlim, Alemanha	$85,000
Latin Cannabis Expo	São Paulo, Brasil	$65,000

Marketing digital e mídia social

O crescimento da flora implementa estratégias abrangentes de marketing digital em várias plataformas.

Plataforma	Seguidores	Orçamento anual de marketing digital
Instagram	45,000	$250,000
LinkedIn	22,500	$125,000
Tiktok	18,000	$100,000

Flora Growth Corp. (FLGC) - Modelo de negócios: segmentos de clientes

Praticantes de cannabis medicinal

De acordo com os relatórios financeiros de 2023 da Flora Growth Corp., os profissionais de maconha medicinal representam um segmento importante de clientes com características específicas do mercado:

Métrica de segmento	Data Point
Total de prescrições de cannabis medicinal	37.500 em 2023
Valor médio de prescrição	US $ 125 por receita médica
Cobertura geográfica	Colômbia, Estados Unidos, Canadá

Empresas farmacêuticas

O segmento de clientes farmacêuticos da Flora Growth inclui:

• Parcerias farmacêuticas ativas: 6
• Total de colaborações de pesquisa farmacêutica: 3
• Valor anual do contrato farmacêutico: US $ 2,3 milhões

Mercados de bem -estar e suplementos de saúde

Segmento de mercado	Contribuição da receita
Vendas de produtos CBD	US $ 4,7 milhões em 2023
Linhas de produtos de bem -estar	7 categorias de produtos distintos
Porcentagem de vendas de comércio eletrônico	42% da receita do mercado de bem -estar

Distribuidores internacionais de cannabis

Detalhes da rede de distribuição:

• Total de canais de distribuição internacional: 12
• Países com distribuição ativa: 8
• Receita anual de distribuição internacional: US $ 5,6 milhões

Instituições de pesquisa

Métrica de colaboração de pesquisa	Data Point
Parcerias de pesquisa ativa	4 colaborações institucionais
Pesquisa concessão de financiamento	US $ 1,2 milhão em 2023
Artigos de pesquisa publicados	6 publicações revisadas por pares

Flora Growth Corp. (FLGC) - Modelo de negócios: estrutura de custos

Cultivo de cannabis e despesas de processamento

A partir do quarto trimestre 2023, a Flora Growth Corp. relatou a seguinte colapso de cultivo e processamento de custos:

Categoria de despesa	Custo anual (USD)
Custos operacionais de estufa	$2,750,000
Força de trabalho trabalhista e agrícola	$1,450,000
Manutenção de equipamentos de cultivo	$680,000
Semente e material genético	$350,000

Investimentos de pesquisa e desenvolvimento

Despesas de P&D para o ano fiscal de 2023:

• Investimento total de P&D: US $ 1.200.000
• Orçamento de inovação de produtos: US $ 750.000
• Desenvolvimento de Tecnologia: US $ 450.000

Custos de conformidade regulatória

Despesas regulatórias para 2023 ano fiscal:

Área de conformidade	Custo anual (USD)
Legal e licenciamento	$620,000
Controle de qualidade	$340,000
Processos de certificação	$280,000

Despesas de marketing e vendas

Alocação de orçamento de marketing para 2023:

• Marketing digital: US $ 480.000
• Feira de feira e participação do evento: US $ 220.000
• Desenvolvimento da marca: US $ 350.000
• Operações da equipe de vendas: US $ 410.000

Logística de distribuição internacional

A quebra de custo de logística e distribuição:

Despesa de distribuição	Custo anual (USD)
Envio internacional	$890,000
Armazenamento	$420,000
Alfândega e taxas de importação	$310,000
Gerenciamento de transporte	$280,000

Flora Growth Corp. (FLGC) - Modelo de negócios: fluxos de receita

Vendas de produtos de cannabis medicinal

No terceiro trimestre de 2023, o Flora Growth relatou receita de vendas de produtos de cannabis medicinal de US $ 2,1 milhões.

Categoria de produto	Receita (USD)
Flor de cannabis seca	$850,000
Extratos de cannabis	$750,000
Óleos de cannabis medicinal	$500,000

Exportação de biomassa de cannabis

A receita de exportação de biomassa de cannabis para 2023 totalizou US $ 1,5 milhão.

Licenciamento de genética de cannabis proprietária

O licenciamento genético gerou US $ 450.000 em receita durante 2023.

• Número de acordos de licenciamento: 7
• Taxa média de licenciamento por contrato: US $ 64.285

Serviços de consultoria e pesquisa

Os serviços de pesquisa e consultoria produziram US $ 350.000 em receita para 2023.

Distribuição por atacado de derivados de cannabis

A receita de distribuição por atacado atingiu US $ 1,2 milhão em 2023.

Tipo derivado	Receita (USD)
Produtos CBD	$600,000
THC derivados	$400,000
Outros derivados de cannabis	$200,000

Flora Growth Corp. (FLGC) - Canvas Business Model: Value Propositions

Exposure to Decentralized AI: Direct investment in the high-growth 0G blockchain ecosystem

Flora Growth Corp., preparing to rebrand as ZeroStack, offers investors direct equity-based exposure to the foundational infrastructure of decentralized AI through its accumulation of $0G tokens. This strategic pivot centers on the 0G Network, which has demonstrated capability by successfully training a 107 billion parameter model using distributed clusters over low-throughput internet connections. The commitment to this ecosystem was solidified by a private placement raising over $400 million, which included a substantial allocation of $370 million in 0G tokens and $35 million in cash commitments. As of October 21, 2025, the company held 123,418,360 $0G tokens, valued at approximately $231 million in total $0G equivalents. This investment strategy is supported by key financial partners, with DeFi Development (DFDV) contributing a $22.88 million investment to the offering.

The scale of this digital asset treasury is reflected in the following metrics as of late 2025:

Metric	Value (as of Oct 21, 2025)	Contextual Data
Total $0G Held (Tokens)	123,418,360	$0G per share (ZGPS) was $23.22 (USD).
Total $0G Equivalents Held (USD)	Approx. $231 million	The convertible note issued to DFDV pays 8% annually in SOL tokens.
Q3 2025 Revenue	$9.7 million	Trailing twelve-month revenue as of Sep 30, 2025, was $57.61M.
Stock Price (as of Nov 28, 2025)	$8.26	Market Cap was $6.16M with 747K shares outstanding.

Global Pharma Access: Distribution of pharmaceutical goods in Europe (e.g., Germany)

Flora Growth Corp. provides value through its Commercial & Wholesale segment, which is heavily focused on the distribution of pharmaceutical products internationally, anchored by its subsidiary Phatebo operating in Germany. This segment contributed to the total reported revenue of $59.5 million for the fiscal year ended December 31, 2024. The value proposition here is accessing the regulated European market, specifically Germany, the largest market in Europe, through its Parallel Import (PI) Business. The market context shows significant scale, with German medical cannabis sales expected to reach $450 million in 2024, and the total European patient base estimated at 500,000, with projected growth around 500% over the next five years. The German legal cannabis market is projected to be worth an estimated $4.6 billion by 2034.

Low-Cost Cultivation: Legacy Colombian cannabis operations for wholesale supply

The company maintains a competitive edge via its legacy Colombian cultivation operations, which supply cannabis flower and derivatives for wholesale. This operation is characterized by exceptionally low production costs, reported at less than $0.06 per gram, or 6 cents per gram, of dried flower. This cost advantage is enabled by the facility's location along the equator at an altitude of 1500 meters above sea level, allowing for year-round organic growing and the potential for three or more annual crop cycles. The physical scale of the operation includes a 254-acre facility capable of producing 600 kg of dried cannabis daily. This low-cost structure supports the supply chain for international medical markets, including Germany.

Branded Wellness: Portfolio of CBD, accessories, and THC-infused beverages

The House of Brands segment delivers consumer-facing value through its portfolio, which includes CBD products, accessories, and expansion into THC-infused beverages. For the first quarter of 2025, this segment generated $5.96 million in revenue. The company leverages existing distribution channels, such as relationships with over 1,200 pharmacies. A concrete example of consumer demand was the $600,000 in sales achieved over a single Black Friday and Cyber Monday weekend across the JustCBD and Vessel brands. Furthermore, the food and beverage division, Kasa Wholefoods, has a $10 million distribution agreement with Tropi, which services 130,000 points of distribution across Colombia. The strategic direction includes capitalizing on the THC-infused beverage sector, a category management expects to disrupt traditional alcohol consumption.

Flora Growth Corp. (FLGC) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Flora Growth Corp., which, as of late 2025, is rapidly transforming its focus from its legacy cannabis and CPG operations to a decentralized AI treasury model under the planned ZeroStack rebrand. The relationships are now bifurcated: high-touch engagement with new digital asset partners and the wind-down/management of existing B2B and CPG channels.

Investor Relations: High-touch communication for the new digital asset strategy

Investor communication has become intensely high-touch, centered around the September 19, 2025, announcement of a $401 million private investment in public equity (PIPE) offering. This deal, which included $366 million in in-kind digital assets and $35 million in cash commitments, priced shares at $25.19. The relationship management involves clearly articulating the shift to becoming the world's first publicly listed $0G treasury. Key relationship milestones included appointing BitGo as custodian for the $0G Treasury on October 16, 2025, and announcing the purchase of 880,025 $0G tokens on October 21, 2025. The ownership structure shows that institutional investors hold about 6.42% of the shares, while insiders maintain a 16.53% stake. The latest direct communication point was the Q3 2025 earnings release on November 5, 2025.

Here are some key figures related to the shareholder base and capital structure following the major funding event:

Metric	Value (as of late 2025)
Total Funding Secured (Sept 2025)	$401 million
Shares Outstanding (Partially Adjusted)	Approximately 747K (Stock Price $8.26 as of Nov 28, 2025)
Institutional Ownership Percentage	6.42%
Q3 2025 Revenue	$9.75 million

B2B Distribution: Contract-based, dedicated account management for pharma buyers

The Commercial & Wholesale segment, which includes the international pharmaceutical distribution through the subsidiary Phatebo in Germany, represents the established contract-based relationship channel. This business line is crucial as Flora Growth is a prominent distributor of pharmaceutical products in the European Union. Before the strategic pivot, the focus was on leveraging existing relationships with over 1,200 pharmacies in Germany, the largest EU market. While the Q3 2025 report signals a strategic transformation following the sale of its cannabis business, the pharmaceutical distribution arm remains a core part of the new structure. For context on the scale of this segment in the first quarter of 2025, the Commercial & Wholesale segment generated $6.87 million in revenue.

• Focus Market: Germany (largest EU market)
• Legacy Network Size: Over 1,200 pharmacies
• Q1 2025 Segment Revenue Contribution: $6.87 million
• Relationship Type: Contract-based distribution agreements

Automated E-commerce: Self-service and direct-to-consumer sales for CPG brands

The relationships here were primarily driven by the House of Brands segment, which included CPG products like those under the JustCBD and Vessel brands. This channel relied on self-service e-commerce platforms for direct-to-consumer (D2C) sales, though the Q3 2025 filings indicate a strategic shift away from the cannabis business, which heavily involved these brands. The last specific segment data point we have shows that the House of Brands contributed $5.96 million to total revenue in Q1 2025. You'd expect dedicated account management here to be minimal, favoring automated, high-volume transaction processing for brand partners and end consumers.

The shift means that while the infrastructure for automated CPG sales existed, the current relationship focus is on managing the transition or divestiture of these CPG customer relationships as the company prioritizes its digital asset treasury.

• Key Brands: JustCBD, Vessel
• Q1 2025 Segment Revenue: $5.96 million
• Primary Interaction Model: Automated Self-Service

Finance: draft the cash flow impact analysis for the divestiture of the House of Brands segment by next Tuesday.

Flora Growth Corp. (FLGC) - Canvas Business Model: Channels

You're looking at how Flora Growth Corp., now pivoting toward its ZeroStack identity, gets its value propositions to its various customer segments. The channels are definitely bifurcated now, moving from a pure CPG/pharma distribution focus to a dual structure involving digital assets.

Digital Asset Treasury: Direct investment from strategic partners and the public market

The primary channel for the new digital asset strategy involves direct investment via a private placement. Flora Growth Corp. completed a $401 million funding package in September 2025 to back its Zero Gravity (0G) coin treasury strategy, which is set to rebrand the company as ZeroStack.

This funding was structured as follows:

• $35 million in cash commitments.
• $366 million in in-kind digital assets, primarily 0G tokens valued at $3.00 per token at the time of the contribution.

The direct investment came from strategic partners like DeFi Development Corp. (DFDV), Hexstone Capital, and Carlsberg SE Asia PTE Ltd. The public market channel is maintained through the existing Nasdaq ticker, FLGC, which the company intends to keep post-rebrand.

International B2B Network: Phatebo's established pharmaceutical distribution channels

The Commercial & Wholesale segment relies heavily on the infrastructure established through the acquisition of Franchise Global Health, specifically its subsidiary Phatebo GmbH. Phatebo acts as a key channel for pharmaceutical and medical cannabis product distribution in Europe and beyond.

The reach of this established B2B channel includes:

• Servicing over 1,200+ pharmacies in Germany.
• Distributing pharmaceutical products across 28 countries.

This network is crucial for moving prescription and over-the-counter pharmaceuticals, connecting Flora Growth's cultivation capabilities to the European medical market.

E-commerce Platforms: Direct-to-consumer sales for JustCBD and Vessel brands

Direct-to-consumer (D2C) sales flow through the company's House of Brands, particularly JustCBD and Vessel, via their respective e-commerce platforms. These digital channels saw significant activity, with the brands reporting $600,000 in sales over the Black Friday and Cyber Monday weekend in 2024.

Here's a look at the recent performance context for these revenue streams:

Metric	Value (As of Late 2025/Latest Report)
Q3 2025 Revenue	$9.75 million
Q1 2025 Revenue	$11.8 million
Fiscal Year 2024 Annual Revenue	$59.51 million

The Vessel brand is specifically highlighted as having the highest gross margins and growth rates within the Flora group of companies. To enhance these D2C channels, the company integrated the Sezzle buy now, pay later (BNPL) platform for U.S. customers.

Retail Distribution: Traditional wholesale and retail points for CPG products

For its Consumer Packaged Goods (CPG) portfolio, which includes JustCBD and Vessel alongside Kasa Wholefoods Company, the channel involves traditional wholesale and retail points. This physical distribution network is extensive, though the revenue contribution relative to the new digital asset focus is less clear in the latest reports.

The established footprint for CPG distribution is reported to cover:

• All 50 states in the U.S..
• 28 countries globally.
• Over 20,000+ points of distribution worldwide.

The company's overall revenue generation from these segments in 2024 was $59.51 million. Finance: draft a memo detailing the expected Q4 2025 revenue split between the House of Brands (e-commerce/retail) and the Commercial & Wholesale segment by next Tuesday.

Flora Growth Corp. (FLGC) - Canvas Business Model: Customer Segments

You're looking at the customer base for Flora Growth Corp. (FLGC), which, as of late 2025, is clearly bifurcated between its legacy operational segments and its massive strategic pivot into the digital asset space. The numbers reflect this transition, showing significant activity in the new AI/Blockchain segment contrasting with the performance of the established consumer and wholesale arms.

AI/Blockchain Investors: Institutional and accredited investors seeking digital asset exposure

This segment represents the most significant recent financial event for Flora Growth Corp., which announced its intention to rebrand as ZeroStack following a massive capital raise centered on the 0G ecosystem. The customer base here is composed of institutional and accredited investors participating in this strategic shift. The private investment in public equity offering (PIPE) secured a total of $401 million in funding as of September 2025.

The composition of this funding highlights the nature of these investors:

• Secured over $366 million in in-kind digital assets ($0G tokens).
• Committed $35 million in cash and equivalent funds.
• The PIPE transaction priced common shares at $25.19 per share.
• The offering was led by DeFi Dev Corp. with a $22.88 million investment.
• Other key participants include Hexstone Capital, Carlsberg SE Asia, Dao5, Abstract ventures, Dispersion Capital, Blockchain Builders Fund, and Salt.

This group is betting on the company's new identity as the first and largest decentralized AI treasury company.

International Pharma Distributors: European wholesalers and pharmacies (e.g., Germany)

This group falls under the Commercial & Wholesale segment, which focuses on the distribution of pharmaceutical products internationally, largely through the German subsidiary, Phatebo. Flora Growth Corp. is a prominent distributor in the European Union and holds a medical cannabis license in Germany. The segment's revenue performance shows its contribution to the overall top line, though it experienced a decline in FY 2024.

Here's a look at the segment revenue contribution from the Q1 2025 report:

Segment	Q1 2025 Revenue (USD)
Commercial & Wholesale	$6.87 million

The company also launched a Parallel Import (PI) Business initially focusing on Germany, the largest market in Europe.

Wellness Consumers: Buyers of CBD, nutraceuticals, and cannabis accessories

These customers are served through the House of Brands pillar, which encompasses various consumer packaged goods. This category includes buyers of CBD products, nutraceuticals, personal care items, and cannabis accessories. The performance of this segment has been variable; lower sales at JustCBD contributed to the overall revenue decrease in Fiscal Year 2024.

The revenue generated by the House of Brands in Q1 2025 was:

Segment	Q1 2025 Revenue (USD)
House of Brands	$5.96 million

The TTM revenue ending September 30, 2025, for Flora Growth Corp. overall was $57.61 million.

THC Beverage Market: Consumers of the new Melo brand in legal US states

This customer group is targeted through the House of Brands, which includes food and beverage products. The company has been involved in the US market, serving all 50 states. However, specific revenue or sales figures directly attributable to the Melo brand for the latest reporting periods (Q2 2025 or Q3 2025) were not explicitly detailed in the available financial summaries, which focused more on the overall segment performance and the AI pivot.

For context on the overall company performance in the latest reported quarter (Q3 2025):

• Q3 2025 Revenue was $9.75 million.
• Q3 2025 Revenue missed estimates by 22.14%.
• Q3 2025 Net Loss was $6.7 million.

If onboarding takes 14+ days, churn risk rises.

Finance: draft 13-week cash view by Friday.

Flora Growth Corp. (FLGC) - Canvas Business Model: Cost Structure

You're looking at the cost side of Flora Growth Corp. (FLGC), now rebranding as ZeroStack, as they pivot hard into the decentralized AI treasury space. This cost structure reflects a mix of traditional operational spending and significant new digital asset investment costs. It's definitely a shift from their prior focus.

Digital Asset Acquisition

The most notable cost driver in the near term is the acquisition of $0G Tokens to build out the decentralized AI treasury. This isn't a traditional expense but a strategic capital outlay. As of October 2025, Flora Growth Corp. had made significant purchases:

• October 8, 2025 purchase: 772,200 $0G tokens at an average price of $2.59 per token.
• October 21, 2025 purchase: 880,025 $0G tokens at an average price of $2.27 per token.

The total position as of October 21, 2025, stood at 123,418,360 $0G tokens, reported as approximately $231 million in $0G equivalents, based on a $1.87 per-token value on October 20, 2025. These tokens are intended for long-term holding and staking to generate native yield within the $0G ecosystem.

Operating Expenses

For the quarter ended September 30, 2025, the reported total operating expense was $3.61 million. This is a key figure for understanding the burn rate outside of the digital asset strategy. For context on the trailing twelve months (TTM) ending September 2025, total operating expenses were $26.58 million.

Here's a quick look at the breakdown of operating expenses reported on a TTM basis ending September 2025 (figures in millions USD):

Expense Category	TTM (Sep '25)
Selling, General & Admin	$20.5
Research & Development	$0.42
Other Operating Expenses	$1.25
Total Operating Expenses	$26.58

Consulting/Management

Specific line items for consulting and executive compensation are typically bundled within Selling, General & Administrative expenses, which totaled $20.5 million on a TTM basis ending September 2025. The company's strategic pivot and fundraising activities suggest ongoing, significant management costs associated with this transformation, though a precise dollar amount for just consulting/management is not explicitly itemized in the latest available data points.

Distribution & Logistics

Costs related to global pharmaceutical and CPG supply chains are embedded in the Cost of Revenue and Operating Expenses, reflecting the two core segments: Commercial & Wholesale and House of Brands. The Commercial & Wholesale segment involves international pharmaceutical distribution, primarily through its subsidiary Phatebo operating in Germany. The Cost of Revenue for the TTM ending September 2025 was $45.53 million.

Share-Based Compensation

Share-based compensation represents a significant non-cash cost, often used for executive incentives. While the most recent quarterly data is not explicitly provided for Q3 2025, historical and partial 2025 figures show this component:

• Annual Share-Based Compensation for fiscal year 2022 was $3.4M.
• For the first quarter of 2025 (Q1 2025), the amount was $0.172 million (172 in the source data).

Finance: draft 13-week cash view by Friday.

Flora Growth Corp. (FLGC) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Flora Growth Corp.'s business model as of late 2025, and honestly, it's a story of two very different businesses operating under one ticker symbol.

The operational revenue still comes from the established segments, but the non-operational, asset-based value is now a massive component. The company is defintely signaling a rebrand to ZeroStack, positioning itself as an AI-focused entity, which is an existential shift from its cannabis roots. This shift is reflected in how the revenue streams are now categorized.

The core operational revenue streams are:

• Pharmaceutical Sales: Operational revenue from Phatebo's international distribution, which operates in Germany.
• CPG/Brand Sales: Revenue from JustCBD, Vessel, and Melo products, falling under the House of Brands segment.

The non-operational, asset-based stream is now the most significant in terms of reported asset value:

• Digital Asset Value: Non-operational value appreciation from the $0G token treasury. As of late October 2025, the company held 123,418,360 $0G tokens, valued at approximately $231 million.

Here's a quick look at the key top-line revenue figures reported around the end of the third quarter of 2025:

Metric	Amount
Total Revenue (TTM Sep 30, 2025)	$57.61 million
Q3 2025 Revenue	$9.7 million

To be fair, the operational revenue from the CPG and pharmaceutical sides has seen pressure. For example, the Q3 2025 revenue of $9.7 million was below some analyst estimates of $12.50 million. Still, the company intends to hold the $0G tokens for the long-term and expects to continue to accumulate more as part of its treasury strategy.

The structure of the revenue-generating operations includes:

• Phatebo: Focuses on business-to-business sales of branded pharmaceuticals internationally.
• JustCBD: Generates revenue from over 350 products across direct-to-consumer and wholesale channels.
• Vessel: Services the US and Canada with cannabis accessory and technology products.

Finance: draft the cash flow impact of the $0G token valuation changes for the next board meeting by Monday.