Business
Rubicon Organics Reports Q1 2026 Financial Results
Delivered quarterly net revenue of $13.7 million for Q1 2026 (11% increase from Q1 2025). Adju...
About this update from Rubicon Organics, Inc.
[{"type":"text","content":"Rubicon Organics Reports Q1 2026 Financial Results\n Delivered quarterly net revenue of $13.7 million for Q1 2026 (11% increase from Q1 2025).Adjusted EBITDA1 loss of $0.6 million for Q1 2026 (compared to positive $0.7 million in Q1 2025) driven by Cascadia pre-revenue scale-up and B.C. strike impact.#1 premium licensed producer in Canada with 7.5% of the market share.2Cascadia facility in full production with quality and yields meeting or exceeding internal expectations. First commercial sales expected by mid-2026.In April, expanded the total addressable market for the Company’s largest and most awarded brand with the 1964 Supply CoTM launch in the U.K. VANCOUVER, British Columbia, May 14, 2026 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), Canada’s leading premium licensed producer focused on cultivating and selling premium and super-premium cannabis products, announces it has reported its financial results for the quarter ended March 31, 2026. All financial information in this press release is reported in Canadian dollars, unless otherwise noted. “As we enter the final stages of the Cascadia scale-up, our Q1 financials reflect the transitional nature of this period, delivering revenue growth but with expected short-term declines in Adjusted EBITDA and gross margins,” said CEO Margaret Brodie. “Margins were also impacted by seasonal market conditions and lingering effects of the B.C. strike.” “With the cost and supply infrastructure now in place, we expect this to translate into meaningful improvements in gross margin, Adjusted EBITDA, and cash flow in the second half of 2026,\" said CFO Glen Ibbott. Q1 2026 Highlights: Net revenue of $13.7 million (11% increase from Q1 2025), with growth in flower and pre-rolls in our 1964 and Simply Bare brands, despite the lingering effects of the strike at the B.C. provincial distributor.Gross margin of $3.5 million (18% decrease from Q1 2025), driven mainly by the addition of Cascadia operating costs in Q1 2026. Adjusted EBITDA1 loss of $0.6 million for Q1 2026 (compared to positive $0.7 million in Q1 2025).Achieved #1 national market share of premium flower at 10.3%2 of the market, an increase of over 3% compared to Q1 2025.3 WildflowerTM is the #2 to...