Rubicon Organics Q1 Revenue Grows 71% YoY, Thanks To Expansion Of 1964 Supply Co, Here Are The Details
Portfolio Pulse from Vuk Zdinjak
Rubicon Organics Inc. reported Q1 2023 net revenue of CA$8.8 million ($6.5 million), a 71% YoY increase, driven by the expansion of 1964 Supply Co, continued range expansion, and a new hero strain with Comatose. Gross profit was CA$3.2 million, and adjusted EBITDA was CA$168,665.
May 23, 2023 | 1:19 pm
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Rubicon Organics' Q1 2023 revenue grew 71% YoY to $6.5 million, driven by the expansion of 1964 Supply Co, range expansion, and a new hero strain.
Rubicon Organics' strong Q1 2023 results, with a 71% YoY increase in revenue, are likely to have a positive short-term impact on its stock price. The company's expansion of 1964 Supply Co, continued range expansion, and introduction of a new hero strain with Comatose have contributed to this growth. Additionally, the company reported a positive adjusted EBITDA for the 4th consecutive quarter, which is a positive sign for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100