Streetbeat News

ROMJF

Rubicon Organics Inc

Industry

Medicinal and Botanical Manufacturing

Open

0.30

Mkt cap

19M

Volume

140K

High

0.37

P/E Ratio

-4.76

52-wk high

0.40

Low

0.30

Div yield

N/A

52-wk low

0.21

The cannabis industry is experiencing significant leadership changes. Notable updates include Aurora Cannabis Inc.'s CEO Miguel Martin taking on the role of executive chairman, and IM Cannabis Corp. appointing Shmulik Arbel to its board. Canopy Growth Corporation's shareholders confirmed their board nominees, and Flora Growth Corp. named Harold Wolkin as an independent director. These changes reflect ongoing shifts in the cannabis sector's leadership landscape.

Portfolio Pulse from Jelena Martinovic

October 11, 2024 | 1:26 am

The cannabis and psychedelics industries are experiencing significant executive changes. Canopy Growth's CEO David Klein will retire in 2025, while Curaleaf's Boris Jordan will become CEO in 2024. Village Farms extended CEO Michael DeGiglio's contract, and MariMed appointed Mario Pinho as CFO. Several companies, including Aurora Cannabis and Agrify, have made board changes.

Portfolio Pulse from Jelena Martinovic

August 21, 2024 | 2:35 pm

Rubicon Organics Inc. (OTC:ROMJF) reported a 7% increase in net revenue for Q2 2024, reaching CA$12.1 million. However, gross profit decreased by 12% to CA$4.05 million due to a shift in consumer preferences towards larger format purchases. The company also reported a decline in adjusted EBITDA and gross profit before fair value adjustments. Despite these challenges, Rubicon generated positive operating and free cash flow and continues to invest in growth initiatives.

Portfolio Pulse from Nicolás Jose Rodriguez

August 15, 2024 | 2:57 pm

The article highlights recent key hires and board changes in the cannabis industry, including appointments at Canopy Growth Corporation, Acreage Holdings, Charlotte's Web Holdings, MyMD Pharmaceuticals, and board updates at TerrAscend Corp. and Nova Cannabis Inc. Wendy Berger steps down from Green Thumb Industries' board.

Portfolio Pulse from Jelena Martinovic

June 26, 2024 | 12:50 am

The Canadian recreational cannabis market is experiencing a slowdown, with a mere 2% YoY growth in Q1 2024. However, some companies like Village Farms International, Organigram Holdings, and Cronos Group have shown significant sales growth, while others like Tilray Brands and Canopy Growth Corporation have faced declines.

Portfolio Pulse from Nicolás Jose Rodriguez

June 03, 2024 | 9:01 pm

Rubicon Organics Inc. reported flat revenue and an adjusted EBITDA loss for Q1 2024, but provided a positive outlook for the rest of the year. The company anticipates growth from higher-margin products and new product launches, despite challenges in the first quarter.

Portfolio Pulse from Nina Zdinjak

May 16, 2024 | 12:49 pm

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.

Portfolio Pulse from Nicolás Jose Rodriguez

March 28, 2024 | 2:25 pm

Several cannabis companies announced executive and board changes, including Aurora Cannabis appointing Simona King as CFO and Cresco Labs promoting Greg Butler to president. Other companies like Rubicon Organics, STIIIZY INC., and Lowell Farms also made significant appointments. Additionally, board changes occurred at Charlotte’s Web Holdings and Bright Green Corporation, among others. These changes reflect ongoing shifts in the cannabis industry's leadership landscape.

Portfolio Pulse from Jelena Martinovic

February 20, 2024 | 2:11 pm

Rubicon Organics Inc. (OTCQX:ROMJF) reported a 5% YoY revenue increase to CA$10 million in Q3 2023, despite a challenging Canadian cannabis market. The company saw a sixth consecutive quarter of adjusted EBITDA profitability at CA$1.1 million, though this was a decrease from the previous year. Gross profit and income from operations were down compared to last year, but the company achieved positive operating cash flow and increased its cash balance. ROMJF shares dropped 23.33% to $0.345 per share following the report.

Portfolio Pulse from Jelena Martinovic

November 15, 2023 | 4:48 pm

Several changes in leadership and board positions have occurred in the cannabis industry. Suzanne Bergeron has been appointed as the new president and CEO of the Société québécoise du cannabis (SQDC). In Morocco, Mohamed El Guerrouj has been named the general director of the Morocco National Agency for Regulating Cannabis Related Activities (ANRAC). In the U.S., Debra Hilton-Creek has been named the acting executive director of the Massachusetts Cannabis Control Commission (CCC). Several cannabis companies including Greenway Greenhouse Cannabis Corporation, StateHouse Holdings Inc., Glass House Brands Inc., Rubicon Organics Inc., Greenlane Holdings, Inc., Flora Growth Corp., and Nextleaf Solutions Ltd. have also announced changes in their board of directors.

Portfolio Pulse from Jelena Martinovic

November 02, 2023 | 6:41 pm

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