Rubicon Organics Inc
XTSX:ROMJ
Rubicon Organics Inc
Rubicon Organics, Inc. engages in the building of super-premium organic cannabis brands. The company is headquartered in Vancouver, British Columbia and currently employs 141 full-time employees. The company went IPO on 2018-10-10. The Company, through its subsidiary, Rubicon Holdings Corp, is engaged in cultivating, processing and selling organic certified cannabis products, which it sells under its owned and licensed brands. The firm's brands include Simply Bare Organic, Lab Theory, 1964 Supply Co., and Wildflower. The company has invested in round organic growing conditions, which includes two different spectrums of supplemental light, advanced climate and humidity controls, cold cure processing rooms and processing facilities for dried flower and solvent-less extraction. The firm is licensed to cultivate, process and sell cannabis products from both its 125,000 square feet greenhouse located in Delta, British Columbia, Canada and 11-acre outdoor grow site for recreational and medical-use markets in Canada.
Rubicon Organics, Inc. engages in the building of super-premium organic cannabis brands. The company is headquartered in Vancouver, British Columbia and currently employs 141 full-time employees. The company went IPO on 2018-10-10. The Company, through its subsidiary, Rubicon Holdings Corp, is engaged in cultivating, processing and selling organic certified cannabis products, which it sells under its owned and licensed brands. The firm's brands include Simply Bare Organic, Lab Theory, 1964 Supply Co., and Wildflower. The company has invested in round organic growing conditions, which includes two different spectrums of supplemental light, advanced climate and humidity controls, cold cure processing rooms and processing facilities for dried flower and solvent-less extraction. The firm is licensed to cultivate, process and sell cannabis products from both its 125,000 square feet greenhouse located in Delta, British Columbia, Canada and 11-acre outdoor grow site for recreational and medical-use markets in Canada.
Record Revenue: Rubicon Organics reported Q3 net revenue of $15.6 million, up 16% year-over-year and marking a record quarter.
Market Share Gains: The company grew its premium flower and pre-rolls share to 6.2%, up from 5.7%, and achieved a 13.2% share in premium vapes, rising from 0 last year.
Margins & Profit: Gross margin improved to 33%, and the company posted its sixth consecutive quarter of positive adjusted EBITDA, though adjusted EBITDA declined year-over-year due to targeted investments.
Cascadia Expansion: The Cascadia facility received full licensing in October and is expected to increase production capacity by 40%, with meaningful revenue contribution anticipated in the second half of 2026.
International Progress: Rubicon completed its first branded exports, with shipments to Australia, Poland, and the U.K., as part of a cautious "test and learn" international strategy.
Short-Term Margin Pressure: Management expects some gross margin pressure over the next few quarters due to start-up costs at Cascadia before ramping up to higher profitability.
Strong Demand: The BC distributor strike demonstrated strong national demand for Rubicon's products, as redirected supply was absorbed by other provinces.
