Rubicon Organics Inc. (ROMJ) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

to Rubicon Organics third quarter 2025 earnings call for the three and nine months ended September 30, 2025. 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 that time for analysts to queue up for questions. Please refer to slide two for our caution I'm recording forward-looking statements and non-GAAP measures. Today's presenters are Margaret Boding, CEO, and Grant Ibbott, CFO. I will now turn the call over to Margaret. Thank you, and good morning, everyone. I'm pleased to share our Q3 2025 performance and an update on our strategic plans as Canada's number one premium licensed producer. Glenn will then take you through our financial results. In Q3, we achieved net revenue of $15.6 million, up 16% year-over-year, marking another record quarter. It's important to note that our growth has come despite our capacity constraints, which we are planning to partially address with our capacity from the Cascadia facility in 2026. We delivered adjusted EBITDA of $1.7 million, our sixth consecutive quarter of positive adjusted EBITDA, and delivered net income of $2.8 million. We expanded our VAPE portfolio with the launch into the all-in-one category. Following the close of the quarter, we also finalized licensing for our Cascadia facility, formerly known as HOPE, with first crops planted October 25 and operations now underway. And we sent a drop shipment to Australia under the 1964 brand, our first international branded shipment and our first time shipping to the country. And we secured additional debt of $4 million. Rubicon continues to outperform the market, growing faster than total market and in key premium categor...