Decibel Cannabis Company (DB) Investor presentation summary

Strategic positioning and market overview

• Focused on building a global cannabis company through operational excellence, dominant brands, and a certified global supply chain.

• Leading manufacturer of ready-to-consume cannabis formats in Canada, with over $250M in annual retail sales and presence in 3,100+ stores across 10 provinces and 2 territories.

• International expansion underway, with 484% growth in 2025 and high double-digit growth expected in 2026; products present in nine countries.

• Market leader in infused pre-rolls and a top-three recreational cannabis brand in Canada.

• Global cannabis market projected to reach $134B by 2030, with Decibel targeting high-growth international markets.

Financial performance and growth

• Net revenue reached $113M in 2025, with $89M from domestic and $24M from international sales.

• Adjusted EBITDA for 2025 was $23M, reflecting a 33% CAGR from 2021 to 2025.

• Gross margin before fair value adjustments improved to 48% in 2025, with revenue CAGR of 21% from 2021 to 2025.

• Five consecutive years of positive adjusted net income, with $13.7M in 2025 and $18M improvement since 2021.

• 2026 guidance targets $132–$137M in net revenue and $28–$32M in adjusted EBITDA, implying 19% and 29% YoY growth, respectively.

Operational strengths and execution

• Demonstrated track record of execution, with over six years of profitability and a leadership team experienced in cannabis, CPG, and M&A.

• Highly scalable manufacturing with 60 tons/year processing capacity (expandable to 120 tons), currently at 34% utilization.

• EU GMP certifications for flower and extracts, enabling access to high-barrier international markets.

• Speed to market 38% faster than competitors, with robust customer and supplier onboarding.

• Focus on automation, operational discipline, and reinvestment in brands to drive efficiency and growth.