Cannara Biotech Inc. (LOVE) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to Canara Biotech's third quarter 2026 earnings webcast. The three months ended May 31st, 2026. Today's presenter is Nicholas Soziak, Chief Operating Officer and Interim Chief Financial Officer of Canara Biotech. At this time, all participants are in listen-only mode. Following the prepared remarks, we will hold a question and answer session. To ask a question during this session, Please press star 11 on your telephone. You will hear an automated message confirming that your hand has been raised. To withdraw your questions, simply press star 11 again. Please be advised that today's conference is being recorded. Before we begin, please refer to slides two and three of the company's cautions regarding forward-looking statements, market and industry data, and non-GAAP and other financial measures. I will now turn the call over to Nicholas Soziak. Please go ahead, sir. Good morning, everyone, and thank you for joining me to review Canara's Q3 2026 results for the period ended May 31st, 2026. The third quarter demonstrated the depth and resilience of our business. Gross cannabis revenue increased 16% year-over-year to $44.1 million. Total net revenue reached $31.8 million. and adjusted EBITDA increased 11% to $8.5 million. We also generated $5.7 million of operating cash flow and remained profitable with net income of $4.8 million. These results reflect continued execution of a model built around premium quality at scale, disruptive pricing, and disciplined, profitable growth. Our estimated national retail market share remained at 4.4%, positioning Canara as the eighth largest licensed producer in Canada by estimated retail sales. We maintained our leadership position in Quebec, all while setting new monthly market share records in Ontario ...