- Delivered Q2 2025 net revenue of $15.0 million, representing a 24% increase compared to the same quarter in prior year, and 2025 YTD net revenue of $27.4 million, representing a 30% increase compared to the same six months in prior year
- Generated Adjusted EBITDA1 of $1.4 million in Q2 2025 and $2.1 million for 2025 YTD
- Completed purchase of the Hope Facility, increasing total future capacity by 40%
- Completed a private placement for aggregate gross proceeds of $4.5 million
- 1964 Launched Premium All-in-One Resin Vapes, Expands Into New Segment (July 2025)
VANCOUVER, British Columbia, Aug. 18, 2025 (GLOBE NEWSWIRE) — Rubicon Organics Inc. (TSXV:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is Canada’s leading premium licensed producer focused on cultivating and selling organic certified, premium and super-premium cannabis products, reported its financial results for the three and six months ended June 30, 2025 (“Q2 2025”). All amounts are expressed in Canadian dollars.
“Our strong results reflect our relentless focus on quality across every aspect of our business. We’re now seeing the established success of our 510-thread FSE resin vapes, which have been in market for a full year, alongside momentum from our premium genetics—underscoring the strength of our genetic strategy. Looking ahead, I’m excited about the potential of our newly launched all-in-one FSE resin vapes, upcoming genetic releases, and the commissioning of our Hope Facility to support continued, sustainable growth.” said Margaret Brodie, CEO.
“We delivered a record-breaking quarter, achieving our highest-ever net revenue of $15.0 million, record gross profit, and a record profit from operations of $1.0 million. We also generated Adjusted EBITDA of $1.4 million and positive operating cash flow of $0.8 million. Our strong and consistent performance in the first half of the year reflects the strength of our operating model and our commitment to financial discipline. While we expect some one-time costs in the back half of the year as we invest in bringing the Hope Facility online, this is a strategic move to support long-term, sustainable value creation,” said Glen Ibbott, CFO.
Q2 2025 and Subsequent Highlights:
- Net revenue: $15.0 million for Q2 2025 (24% increase year-over-year) and $27.4 million for the six months ended June 30, 2025 (30% increase year-over-year).
- Adjusted EBITDA: $1.4 million for Q2 2025 and $2.1 million for the six-month period.
- Cash flow from operations: $0.8 million for Q2 2025 and $(0.2) million for the six-month period.
- For the three months ended, achieved national market share2 of 5.2% in premium flower and pre-rolls, 15.1% in resin vapes, 26.2% premium edibles, and #1 topical SKU.
- For the six months ended, achieved national market share2 of 5.1% in premium flower and pre-rolls, 14.6% in resin vapes, 26.3% premium edibles, and #1 topical SKU.
- Closed the acquisition of the Hope Facility, increasing annual production capacity by more than 40%.
- Completed a private placement for aggregate gross proceeds of $4.5 million.
- Won Standard Producer of the Year at Grow Up awards in May 2025.
- Named industry veteran Glen Ibbott as Interim Chief Financial Officer.
- Launch of 1964 Supply Co.™ All-in-One full spectrum extract resin vapes.
Who We Are
Rubicon Organics is a Canadian leader in premium, certified organic 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 Q2 2025 revenue up 30% year-over-year and positive Adjusted EBITDA for the fifth consecutive quarter and for nine of the last ten quarters.
The Company’s production base is anchored by its fully licensed Delta Facility, expected to be complemented by the acquisition of the Hope Facility 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 rationalizes 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 $4.5 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
Securing Additional Premium Quality Supply
With growing demand for Canadian cannabis from the domestic and international markets, we see that controlling access to premium quality supply is critical to continue to grow our brands and gross revenue. Our Delta Facility is fully operational and has annual production capacity of 11,000 kg. We are continuously evaluating ways to improve both our yield and quality at the Delta Facility.
To support the increased demand for premium flower, the Company acquired the Hope Facility, adding 4,500 kg of annual production capacity—a more than 40% increase over the Delta Facility’s existing capacity—and bringing total annual production capacity to 15,500 kg of premium cannabis. The acquisition closed on June 5, 2025, and the Company is currently progressing through the licensing process, with approval expected by year-end. The Company now anticipates incurring between $1 – $2 million in start-up operating costs in 2025. However, no revenue contribution is expected until the first half of 2026.
In 2025, we expect to acquire up to 2,000 kgs of incremental biomass and supplement our manufacturing capacity through strategic partnerships with co-manufacturers and contract growers. We plan to continue to collaborate with our trusted partners and explore additional partnerships as we strive to meet the growing demand for our high-quality premium products.
Building Trust with our Customers in Canada
We are committed to the growing Canadian cannabis market and to being a trusted partner for our customers—including provincial distributors, retailers, and consumers. As the Canadian customers face increasing competition from international demand, we have seen many mainstream and premium licensed producers shifting their sales abroad. We see this as a prime opportunity to further strengthen our brand presence in Canada.
With SKU rationalization underway across several provinces, suppliers are being evaluated on reliability and sales performance. This shift is raising the bar for market entry, making it increasingly challenging for new brands and products to secure shelf space. At the same time, Canadian consumers are becoming more brand-loyal, prioritizing trust and value in their purchasing decisions. We believe our award-winning brands and diverse product portfolio will continue to resonate with them.
Looking ahead, we anticipate a continued highly competitive retail landscape. However, Rubicon’s strong brand recognition, consumer loyalty, high supplier ratings, and strategic positioning provide a solid foundation for long-term success in Canada.
Genetics
The Company’s proprietary cannabis genetics represent a core strategic asset and a key differentiator in maintaining our leadership in innovation within the premium and super-premium segments of the Canadian market. Our extensive genetics library underpins our ability to deliver consistent, high-quality flower and supports ongoing product development across multiple formats.
In 2025, we are focused on expanding our genetic portfolio with several new launches under the Simply Bare™ Organic brand. Recent additions include BC Organic Pink Drip, BC Organic Sunset Runtz, and BC Organic Luv Affair, with BC Organic Black Zoap and BC Organic Tea Time #7 scheduled for release later in the year. These genetics are designed to enhance our product offering and strengthen our competitive position in the evolving premium cannabis market.
International
Our strong reputation in Canada has attracted an increasing number of inquiries from international medical cannabis buyers. The international cannabis market has experienced significant growth in recent years, with continued expansion anticipated. While the market is still in the early stages of adopting premium cannabis products, we aim to meet small amounts of the international demand with a test and learn strategy in 2025 while making sure to meet our Canadian customer needs as a priority. The Company holds the necessary certifications for international exports and made its inaugural international test shipment in the first quarter of 2025.
Financial Growth
For fiscal 2025, we are forecasting growth in both net revenue and Adjusted EBITDA, excluding acquisition-related and start up operational costs associated with the Hope Facility (the “Hope Costs”), driven by our ongoing expansion and strategic initiatives. While we anticipate strong underlying performance in 2025, we expect the Hope Costs will impact our reported financial results. Despite the potential short-term impact of the Hope Costs on 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 Hope Facility) will position us for long-term success and value creation.
Q2 2025 Results of Operations:
| Three months ended |
Six months ended |
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| June 30, 2025 $ |
June 30, 2024 $ |
June 30, 2025 $ |
June 30, 2024 $ |
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| Net revenue | 14,984,317 | 12,105,697 | 27,360,373 | 20,996,114 | |||||
| Production costs | 2,924,857 | 2,931,952 | 5,826,640 | 5,624,644 | |||||
| Inventory expensed to cost of sales |
6,469,113 | 5,209,148 | 11,837,755 | 8,946,482 | |||||
| Inventory written off or provided for |
460,064 | 312,964 | 778,342 | 579,003 | |||||
| Gross profit before fair value adjustments |
5,130,283 | 3,651,633 | 8,917,636 | 5,845,985 | |||||
| Gross profit % before fair value adjustments |
34.2% | 30.2% | 32.6% | 27.8% | |||||
| Fair value adjustments to cannabis plants, inventory sold, and other charges |
746,450 | 398,790 | 1,186,100 | 563,042 | |||||
| Gross profit | 5,876,733 | 4,050,423 | 10,103,736 | 6,409,027 | |||||
| Operating expenses | 4,899,617 | 3,931,857 | 9,237,412 | 8,028,946 | |||||
| Profit (loss) from operations | 977,116 | 118,566 | 866,324 | ||||||