Rubicon Organics Reports Q4 and FY 2025 Financial Results

VANCOUVER – In a Canadian Cannabis market that continues to reward quality and consistency, Rubicon Organics Inc. has posted a solid set of full-year results that underscore its position as a leader in the premium segment.

The company reported record net revenue of $59.5 million for the year ended December 31, 2025, a 22% increase from $48.7 million in 2024. It also disclosed its first full-year net income in recent memory, at $1.1 million, compared with a net loss of $2.6 million the prior year. For the fourth quarter alone, net revenue reached a quarterly high of $16.5 million, up 16% from the same period in 2024. Adjusted EBITDA came in at $1.2 million for the quarter, down from $1.6 million a year earlier, while the company recorded a net loss of $2.2 million. Full-year adjusted EBITDA rose 25% to $5 million.

Gross profit before fair-value adjustments on biological assets climbed 27% to $19.5 million for the year, reflecting improved production efficiencies and product mix. Income from operations turned positive at $1.8 million, reversing a $1.2 million loss in 2024. The company ended the year with $4 million in cash and $23.6 million in working capital.

Rubicon, which holds the top position among premium licensed producers in Canada with an 8% share of that segment, attributed the gains to steady demand for its core brands. Its 1964 Supply Co. line led premium flower and pre-roll sales, while Wildflower maintained the No. 2 spot in topicals with a 25.9% market share. The company also captured 18% of the national premium-vape category.

Operational advances played a role. In 2025 the company completed the purchase and integration of the Cascadia indoor facility in Hope, British Columbia, adding rated capacity of 4,500 kilograms annually. First harvests from the site occurred in February 2026, after the fiscal year closed. Combined with its Pacifica greenhouse operation, Rubicon now has potential annual output of 15,500 kilograms.

The company also raised fresh capital, closing a $4.5 million private placement and securing a $3 million term loan. International sales remained modest, under $1 million for the year, but included initial shipments to Poland and Australia.

CEO Margaret Brodie described 2025 as a milestone year. She noted the rapid integration of the new facility and said expanded supply should support both domestic sales and export efforts, with margin and cash-flow improvements expected in H2 2026. Near-term results may face pressure from ramp-up costs at Cascadia and softness in the British Columbia market.

These results show a premium-focused operator delivering consistent top-line growth and a return to annual profitability even as the broader Canadian market remains competitive and price-sensitive. The capacity addition at Cascadia represents a concrete step toward greater self-sufficiency, though the timing of its full contribution and any success in international markets will determine whether 2026 brings the acceleration management has outlined. For now, Rubicon’s numbers reflect measured progress rather than a breakout.