Rubicon Organics (ROMJ) investor relations material

Executive summary

• Achieved record Q2 net revenue of $15M, up 24% year-over-year, with gross profit of $5.9M and adjusted EBITDA of $1.4M, marking the fifth consecutive quarter of positive adjusted EBITDA.

• Year-to-date net revenue reached $27.4M, up 30% year-over-year, and adjusted EBITDA was $2.1M.

• Completed $4.5M private placement, finalized Hope facility acquisition, and launched new premium resin vape products, expanding product portfolio and production capacity by over 40%.

• Growth driven by strong performance in vapes, pre-rolls, dried flower, concentrates, and premium edibles, with significant market share gains in key segments.

• Won Standard Producer of the Year at Grow Up awards and named Glen Ibbott as Interim CFO.

Financial highlights

• Net revenue reached $15M, highest ever for a single quarter, with gross margin improving to 34% from 30% year-over-year.

• Gross profit before fair value adjustments was $5.1M in Q2 2025 (34.2% margin), up from $3.7M (30.2%) year-over-year.

• Adjusted EBITDA for Q2 was $1.4M, up from $900K last year, and $2.1M year-to-date.

• Net profit for Q2 2025 was $0.77M, compared to a net loss of $0.45M in Q2 2024.

• Ended the quarter with $7.3M in cash and $18.7M in working capital.

Outlook and guidance

• 2025 targets remain unchanged: forecasting growth in net revenue and adjusted EBITDA from core business, with Hope facility pre-revenue costs of $1M–$2M expected to impact annual adjusted EBITDA.

• Hope Facility expected to add 4,500kg annual capacity, with licensing approval anticipated by year-end and revenue contribution in H1 2026.

• Plans to acquire up to 2,000kg incremental biomass and expand through strategic partnerships.

• Focused on securing additional premium supply, building domestic brand loyalty, and leading in genetic innovation.