Atlantic Sapphire CEO Pedro Courard.
Photo: ASC / Atlantic Sapphire.
Atlantic Sapphire has released preliminary figures for the first half of 2025, ahead of its full report which has been postponed from 21 August to 31 August. The Miami-based company claims the results show substantial progress in operations, biological performance and finances.
Harvest volumes rose to 2,486 tonnes in the first six months of the year, compared with 2,384 tonnes in the same period of 2024. Average harvest weights nearly doubled to 2.86kg, and reached 3.1kg in the second quarter.
The land-based salmon farming company reports sales prices averaging USD 8.67 per kilo, an 86% increase on the previous year, with second-quarter fresh sales reaching USD 9.27 per kilo. According to the company, fish mortality fell to record lows and system reliability continued to improve, with less downtime and steadier water quality.
The firm also reports it had brought fillet production in-house, which it says has enabled "improving product quality, reducing costs, and
strengthening value creation".
Atlantic Sapphire posted revenue of USD 21.5 million in H1 2025, nearly double the USD 11.1 million recorded in the first half of 2024. Meanwhile, the company's EBITDA loss narrowed to USD 30.7 million from USD 46.6 million a year earlier.
In a press release announcing the results, CEO Pedro Courard described the first half of the year as “a turning point” for the business. He said, “Operations are now stable, biological performance is at record levels, and financial results are rapidly improving. With harvest weights above 3kg and prices higher than reference price indices in Q2, we have clear line of sight to profitability.”
Courard added that the company expects to report its first positive EBITDA quarter by the end of 2026, and sees the basis for “profitable growth and expansion” following this.
In its second quarter report, the company said it is aiming to reach full Phase 1 production capacity at its Miami RAS facility, which is designed to produce up to 9,500 tonnes HOG of salmon annually. Long-term plans target an expansion to 220,000 tonnes.
In February, Atlantic Sapphire became the first land-based salmon farmer in the USA to achieve ASC certification.
