Rubicon Organics Inc. (ROMJ) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone. Welcome to Rubicon Organics Q1 2026 earnings call for the three months ended March 31, 2026. As a reminder, this call is being recorded. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at the time for analysts to queue up for questions. Before we begin, please refer to slide 2 for our caution regarding forward-looking statements and non-GAAP measures. Today's presenters are Margaret Brody, CEO, and Glenn Pitt, CFO. I'll now turn the call over to Margaret. Good morning, everyone. Today, I'm providing an update on Rubicon Organics and our progress on 2026, the year we've described as a year of two halves. As previously outlined, 2026 is a transition year with our new Cascadia facility ramping up and adding costs to the business in the first half as we complete the ramp-up, where in the second half, we expect to meaningfully see the financial benefits. In the first quarter of 2026, we saw revenue from our existing footprint, excluding Cascadia, grow 11% year-over-year. At the same time, our gross profit and bottom line were impacted by Cascadia's pre-revenue ramp-up. Glenn will walk through the financial results shortly and provide additional context behind the numbers. Rubicon continues to be Canada's number one premium licensed producer. Our focus this quarter has been balanced between delivering today while building for tomorrow. Nowhere is that more visible than at our Cascadia facility. Our first harvests are complete with batches showcasing promising results with THC potencies closely comparable to Pacifica. This provides early validation that this new facility will uphold the quality standards our brands are known for nationall...