Generated Adjusted EBITDA of $1.7 million in Q3 2025 and $3.8 million for 2025 YTD.
Obtained Health Canada license to cultivate, process and store cannabis for the Cascadia Facility allowing the facility to begin operations.
VANCOUVER, British Columbia, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV:ROMJ) (OTCQX:ROMJF) ("Rubicon Organics", "Rubicon" or the "Company") is Canada's leading premium licensed producer focused on cultivating and selling organic certified, premium and super-premium cannabis products, today reported its financial results for the three and nine months ended September 30, 2025 ("Q3 2025"). All amounts are expressed in Canadian dollars.
"Rubicon continues to generate growth from our established footprint as we prepare for our next major inflection point in 2026, when we expect to begin realizing revenue from the recently acquired Cascadia Facility. With the facility now licensed and commissioning activities well underway, we have begun investing in talent and other foundational initiatives to support our next phase of growth." said Margaret Brodie, CEO.
"Rubicon delivered strong Q3 2025 results with net revenue of $15.6 million, up 16% year over year, and $1.7 million in Adjusted EBITDA1. These results reflect our commitment to achieving the benefits of operational scale, disciplined cost control, and an unwavering focus on quality in Canada's premium cannabis market," said Glen Ibbott, CFO. "While we anticipate some one-time costs into early 2026 as we bring the Cascadia facility online, this investment positions Rubicon for sustained, long-term value creation."
Q3 2025 and Subsequent Highlights:
Net revenue: $15.6 million for Q3 2025 (16% increase year-over-year) and $43.0 million for the nine months ended September 30, 2025 (25% increase year-over-year).
Adjusted EBITDA: $1.7 million for Q3 2025 and $3.8 million for the nine-month period.
Cash flow from operations: $0.5 million for Q3 2025 and $0.3 million for the nine-month period.
For the three months ended, achieved national market share2 of 6.2% in premium flower and pre-rolls, 13.2% in premium vapes, 16.0% in premium edibles, and #1 topical SKU.
For the nine months ended, achieved national market share2 of 5.5% in premium flower and pre-rolls, 18.2% in premium vapes, 22.4% in premium edibles, and #1 topical SKU.
Obtained licensing from Health Canada for the Cascadia Facility allowing operations to commence with revenues expected to be realized in the first half of 2026.
With the delivery to Australia in October 2025, the Company has now successfully shipped to three international markets in the fiscal year as part of its test and learn objective for 2025.
Secured a $3.0 million capital loan and $1.0 million line of credit in November 2025
Who We Are
Rubicon Organics is the Canadian leader in certified organic and premium cannabis. With a vertically integrated model and strong national distribution, the company is scaling a house of trusted, high-performing brands including Simply Bare™ Organics, 1964 Supply Co.™, Wildflower™, and Homestead Cannabis Supply™.
The Company's focus on premium quality, innovation, and operational execution has driven consistent growth, with Q3 2025 revenue up 16% year-over-year and positive Adjusted EBITDA for the sixth consecutive quarter and for thirteen of the last fourteen quarters.
The Company's production base is anchored by its fully licensed Pacifica Facility (Delta, BC), and is now complemented by the acquisition and licensing of its Cascadia Facility (Hope, BC), which will expand production capacity by over 40% and support future growth in both domestic and export markets. With proprietary genetics, award-winning products, and certifications enabling international distribution, Rubicon is positioned at the forefront of the premium cannabis segment.
As the Canadian market continues to rationalize and global demand for high-quality cannabis increases, Rubicon's disciplined execution, brand equity, and consumer loyalty set it apart. The company is well-capitalized following a recent $4.0 million financing and is on track for continued revenue and Adjusted EBITDA expansion.
Rubicon Organics represents a rare combination of category leadership, operational strength, and long-term growth potential.
Where We Are Going: 2025 Outlook
For fiscal 2025, we are forecasting full year growth in both net revenue and Adjusted EBITDA, excluding acquisition-related and start up operational costs associated with the Cascadia Facility (the "Cascadia Costs"), driven by our ongoing expansion and strategic initiatives. While we anticipate strong underlying performance in 2025, we expect the Cascadia Costs will impact our reported financial results. Despite the potential short-term impact of the Cascadia Costs on IFRS profitability, we are confident that our continued growth in net revenue and improved Adjusted EBITDA (excluding acquisition-related and start up operational costs associated with the Cascadia Facility) will position us for long-term success and value creation.
Q3 2025 Results of Operations:
Three months ended
Nine months ended
September 30, 2025$
September 30, 2024$
September 30, 2025$
September 30, 2024$
Net revenue
15,628,564
13,499,282
42,988,937
34,495,396
Production costs
2,681,819
2,897,890
8,508,459
8,522,534
Inventory expensed to cost of sales
7,060,514
6,013,707
18,898,269
14,960,189
Inventory written off or provided for
623,507
209,770
1,401,849
788,773
Gross profit before fair value adjustments
5,262,724
4,377,915
14,180,360
10,223,900
Gross profit % before fair value adjustments
33.7%
32.4%
33.0%
29.6%
Fair value adjustments to cannabis plants, inventory sold, and other charges
2,777,005
(550,324)
3,963,105
62,718
Gross profit
8,039,729
3,877,591
18,143,465
10,286,618
Operating expenses
5,028,741
3,719,916
14,266,153
11,748,862
Profit (loss) from operations
3,010,988
157,675
3,877,312
(1,462,244)
Other expenses
182,848
326,173
597,995
1,052,760
Net income (loss) for the period
2,828,140
(168,498)
3,279,317
