AURORA, Colo., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Bespoke Extracts, Inc. (OTCQB: BSPK), operating as The Joint Company, today announced record results for the quarter ended September 30, 2025 -- marking its strongest operational and financial performance to date.
"We're not chasing the market -- we're building it," said Hunter Garth, President of Bespoke Extracts. "Our Colorado business continues to prove that disciplined execution, brand trust, and smart manufacturing can win even in a contracting cannabis market. Q3 was a turning point. We produced more pre-rolls, earned strong margins, and expanded our reach -- all while holding the line on overhead costs."
Third Quarter 2025 Highlights
-- Record Revenue: $467,945, up 19.8% from Q2 2025 and 68.6% year-over-year.
-- Gross Margin: 50.0%, up 860 basis points versus the prior year, driven by
material, labor, and packaging efficiencies.
-- Net Loss Improvement: GAAP net loss narrowed to $78,088, a 72%
improvement from Q3 2024.
-- Record Production: 209,600 pre-rolls produced during the quarter -- up
81% year-over-year.
Management Commentary
"Our 2025 strategic plan is delivering results, with demonstrable progress on revenue growth, distribution, and branded products," said Michael Feinsod, Bespoke Chairman and CEO. "Our flexibility to adapt to changing market conditions in our core pre-roll business has allowed us to succeed this year in Colorado, setting us apart from many other participants."
"We've built each of our brands brick by brick in one of the toughest cannabis markets in the country," said Garth. "The fact that we can grow revenue by approximately 69% while expanding margins in a shrinking market says everything about our team and our process.
"This is what operational excellence looks like -- continual improvement through iteration, data, and pride in the craft."
"These Q3 results are a testament to the resilience and innovation at the core of The Joint Company," said Michael Feinsod. "Our team's focus on efficiency and quality has not only driven record growth but also positioned us for scalable expansion. We're excited about the pipeline ahead and confident in delivering sustained value to shareholders."
Financial Highlights
Results of
Operations For the Three Months Ended For the Nine Months Ended
------------------------------------------------------------------------- --------------------------------------------
September September June September September
30, 2025 30, 2024 % Change 30, 2025 % Change 30, 2025 30, 2024 % Change
--------------- --------------- ---------- --------------- ---------- --------------- --------------- ----------
Revenue $ 467,945 $ 277,471 68.6% $ 390,553 19.8% $ 1,121,657 $ 816,062 37.4%
------------
Gross Profit $ 234,175 $ 114,995 103.6% $ 197,499 18.6% $ 542,453 $ 323,693 67.6%
Gross Margin 50.0% 41.4% 50.6% 48.4% 39.7%
------------ ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating
Expenses $ 288,066 $ 377,463 -23.7% $ 359,457 -19.9% $ 1,003,640 $ 1,139,207 -11.9%
Net loss $ (78,088) $ (275,613) -71.7% $ (205,106) -61.9% $ (543,715) $ (850,626) -36.1%
Basic and
diluted
shares
outstanding 11,249,959 10,635,068 11,153,220 11,185,821 10,327,972
EPS $ (0.01) $ (0.03) $ (0.02) $ (0.05) $ (0.08)
------------ ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Building from the Ground Up
Fourth Quarter 2025 Outlook
-- Revenue: Projected between $425,000 and $500,000, up 41%--66%
year-over-year, driven by continued demand for Fresh Joints and expansion
of Doobskis and Dutch Blunts.
-- Gross Margin: The company expects to maintain approximately 50% blended
gross margins across product lines through disciplined cost management
and increased production throughput.
-- Innovation: Two new Company owned brands are set to launch in Q4,
designed to capture adjacent market segments with highly competitive
price-to-quality positioning.
-- Expansion: Bespoke continues to evaluate opportunities to replicate The
Joint Company model in additional regulated markets, including
Massachusetts and New York.
-- The company's core brand, Fresh Joints, continues to lead Colorado's
pre-roll category in quality and volume growth. Meanwhile, new launches,
Doobskis and Dutch Blunts gained meaningful traction with retail partners,
creating diversified revenue streams and establishing The Joint Company
as a multi-brand pre-roll house.
"We're turning a single-state success story into a scalable blueprint," Garth added. "Our aim is simple -- to control the pre-roll category through quality, efficiency, and culture. What started as a manufacturing facility in Aurora is now a system that can be replicated across markets."
Bespoke Extracts, Inc.
Consolidated Balance Sheets
(Unaudited)
September 30, December 31,
2025 2024
Assets
Current assets
Cash $ 16,743 $ 60,305
Accounts receivable, net 103,532 57,276
Prepaid expense 12,895 15,150
Inventory, net 63,662 32,526
Total current assets 196,832 165,257
Furniture and equipment 24,051 31,342
License 10,000 10,000
Right of Use Asset 52,690 140,489
Deposits 12,000 12,000
Total assets $ 295,573 $ 359,088
Liabilities and Stockholders'
Equity
Current liabilities
Accounts payable and accrued
liabilities $ 1,392,869 $ 958,276
Note payable 25,000 20,000
Advances - related party 66,872 66,872
Operating lease liability 52,650 73,523
Notes payable -- secured (Net of
discount of $49,810) 335,190 -
Total current liabilities 1,872,581 1,118,671
Long-Term liabilities
Notes payable -- secured (Net of
discount of $68,649) - 241,351
Notes payable 169,000 169,000
Note payable - related party 849,500 849,500
Long-Term Operating Lease
Liability - 72,504
Total liabilities 2,891,081 2,451,026
Commitments and contingencies
(Note 10)
Stockholders' Deficit
Preferred stock, par value
$0.001, 50,000,000 shares
authorized, 1 share issued and
outstanding as of September 30,
2025 and December 31,2024,
respectively - -
Series C Convertible Preferred
Stock, $0.001 par value, 1 share
designated; 1 share issued and
outstanding as of September 30,
2025 and December 31, 2024,
respectively, stated value
$24,000. - -
Common stock, $0.001 par value:
3,000,000,000 authorized;
11,253,220 and 11,153,220 shares
issued and outstanding as of
September 30, 2025 and December
31, 2024, respectively 11,251 11,151
Common stock to issue 6,478 shares - -
Additional paid-in capital 24,341,072 24,301,027
Accumulated deficit (26,947,831) (26,404,116)
Total stockholders' deficit (2,595,508) (2,091,938)
Total liabilities and
stockholders' deficit $ 295,573 $ 359,088
See the notes to the condensed consolidated financial
statements included in the Company's 10Q filing.
Bespoke Extracts, Inc.
Consolidated Statements of Operations
(Unaudited)
For the three months For the Nine Months Ended
ended September 30, September 30,
2025 2024 2025 2024
Sales $ 467,945 $ 277,471 $ 1,121,657 $ 816,062
Cost of products
sold 233,770 162,476 579,204 492,369
Gross Profit 234,175 114,995 542,453 323,693
Operating
expenses:
Selling, general
and
administrative
expenses 260,228 361,393 911,006 1,035,137
Professional
fees 27,838 16,070 92,634 104,070
Total
operating
expenses 288,066 377,463 1,003,640 1,139,207
Loss from
operations (53,891) (262,468) (461,187) (815,514)
Other income /
(expenses)
Interest expense (24,197) (13,145) (82,528) (35,112)
Total other
(expense) /
income (24,197) (13,145) (82,528) (35,112)
Loss before income
tax (78,088) (275,613) (543,715) (850,626)
Provision for
income tax - - - -
Net Loss $ (78,088) $ (275,613) $ (543,715) $ (850,626)
WEIGHTED AVERAGE
COMMON SHARES
OUTSTANDING
Basic and
Diluted 11,249,959 10,635,068 11,185,821 10,327,972
NET LOSS PER
COMMON SHARE
OUTSTANDING
Basic and
Diluted $ (0.01) $ (0.03) $ (0.05) $ (0.08)
See the notes to the condensed consolidated financial
statements included in the Company's 10Q filing.
About Bespoke Extracts, Inc.
Bespoke Extracts, Inc. (OTCQB: BSPK) is a Nevada corporation operating through its wholly-owned subsidiary, Bespoke Extracts Colorado, LLC. The company develops and manufactures branded and white-label cannabis products for the regulated U.S. market. Its flagship platform, The Joint Company, produces pre-rolls and infused products distributed across licensed Colorado dispensaries. The company currently manufactures under its owned brands FreshJoints, Doobskis, DutchBlunts and Sweet Joints.
For more information, visit: www.bespokeextracts.com
Email: info@bespokeextracts.com
Forward-Looking Statement
This release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those expressed due to market conditions, regulatory changes, and other risks described in Bespoke's filings with the SEC. The company undertakes no obligation to update forward-looking statements, except as required by law.
(END) Dow Jones Newswires
November 12, 2025 08:19 ET (13:19 GMT)