Cannabis Producer, Rubicon Organics, Reports Seventh Consecutive Quarter Of Positive Cash Flow & EBITDA
Portfolio Pulse from Nicolás Jose Rodriguez
Rubicon Organics Inc. (OTC:ROMJF), a leading organic certified premium cannabis producer, reported a net revenue of $40.1 million for the year ended December 31, 2023, a 13% increase from the previous year. The company achieved its seventh consecutive quarter of positive Adjusted EBITDA and sixth consecutive quarter of positive operating cash flow, despite competitive pricing pressures and broader negative macroeconomic factors. Gross profit before fair value adjustments was $14.1 million, up 15% from 2022. The company's Wildflower brand is the top topical brand in Canada with a 21.8% market share. Looking ahead to 2024, Rubicon Organics is optimistic, particularly about the launch of full spectrum extract resin vapes under the 1964 Supply Co. brand.
March 28, 2024 | 2:25 pm
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Rubicon Organics Inc. reported a 13% increase in net revenue and its seventh consecutive quarter of positive Adjusted EBITDA for the year ended December 31, 2023. The company remains optimistic about 2024, especially with the launch of new vape products.
The positive financial results, including a significant increase in net revenue and consecutive quarters of positive Adjusted EBITDA, indicate strong operational performance and market presence. The optimism for 2024, driven by new product launches, suggests potential for continued growth. These factors are likely to positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100