Decibel Cannabis Company (DB) Investor presentation summary

Platform and market opportunity

• Global legal cannabis sales are forecast to reach US$134B by 2030; the presentation cites 25% CAGR for fast-growing international markets.

• More than $1.3B in products sold at retail since inception, 22MM+ grams exported, 81MM+ infused pre-rolls sold and 11MM+ vapes sold.

• Canadian platform spans 3,100+ stores across 10 provinces and 2 territories; six product lines include flower, pre-rolls, vapes, edibles and oils.

• Product presence in nine countries; international sales were 28% of LTM sales, with flower representing 80% of the international mix.

Domestic and international growth

• Domestic sales stabilized at $89M in FY25; ready-to-consume products represented 95% of domestic sales, including infused pre-rolls and vapes.

• Ranked #1 in Canadian infused pre-roll sales, #3 among recreational cannabis brands and #4 in vape sales; Standard Issue was cited as Canada's fastest-growing cannabis brand.

• International processing capacity is 60 TPA at 34% utilization as of Q2 2026, expandable to 120 TPA with minimal capex; international sales reached $24M in FY25.

• EU GMP certifications, 16+ customers and 45+ suppliers support exports; Germany and the UK are core 2026 focus markets.

• 2026 growth catalysts include high-double-digit international growth and high-single-digit domestic growth, supported by product launches, distribution and export expansion.

Financial performance

• FY25 net revenue was $112.7M and adjusted EBITDA was $23.2M; domestic sales were $89M and international sales were $24M.

• Q2 2026 net revenue was $35.6M, up 19% YoY; gross margin before fair-value adjustments was 51%.

• Q2 2026 adjusted EBITDA was $7.8M, up 24% YoY, with a 22% adjusted EBITDA margin.

• FY26 guidance is $132–137M net revenue and $28–32M adjusted EBITDA; displayed YoY growth is 19% and 29%, respectively.

• LTM total debt to adjusted EBITDA was 1.9x; the 2026 target is below 2.0x, with a $10M revolving facility undrawn.