Rubicon Organics Inc. (ROMJ) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If anyone has any difficulties hearing the conference, please press door zero for operator assistance at any time. I would now like to turn the conference call over to Margaret Rohde. Please go ahead. Good morning, everyone. Thank you for joining us today. I'll be sharing an update on our strong start to 2025 the growth opportunities ahead, and a few key industry developments. I'm also pleased to introduce our new CFO, Glenn Ibbitt, who joins me on the call for the first time, and he'll be walking you through the financial results. As you can see from our recent announcements, 2025 has been busy, and we have plans to grow our business. In terms of key milestones, in Q1, we delivered net revenue of $12.4 million, a 39% or $3.5 million increase year-over-year. We reported positive adjusted EBITDA of $700,000, marking a $1.1 million improvement compared to the same period in 2024. We received our GACP certification for our Delta facility to allow us to execute our inaugural international shipment to Poland in mid-March. And we entered into an agreement to acquire a new facility in Hope, B.C., expanding our annual production capacity for premium cannabis flower by over 40% to 15,500 kilos. In Q225 and thus far, we've appointed our new CFO, Glenn. For those of you not aware, Glenn is best known in the industry for his tenure as CFO at Aurora Cannabis from 2017 to 2024, where he played a pivotal role in the company's rapid growth, international expansion, and delivery of recurring EBITDA and cash flow. His expertise comes at an important time for Rubicon Organics as we scale new capacity and explore new markets for our industry-lead...