Rubicon Organics Reports Impressive Financial Results for Q4 2024 and Fiscal Year 2024
Rubicon Organics, a leading premium licensed cannabis producer in Canada, recently announced its financial results for the fourth quarter ended December 31, 2024, and the fiscal year ended December 31, 2024. The company reported significant growth in net revenue, Adjusted EBITDA, operating cash flow, and Free Cash Flow.
Highlights for the Fourth Quarter Ended December 31, 2024
Net revenue for Q4 2024 came in at a record high of $14.2 million, representing a 42% increase from Q4 2023. The company achieved an Adjusted EBITDA of $1.6 million, which includes one-time ERP costs of $0.25 million. Operating cash flow for the quarter amounted to $2.3 million, and Free Cash Flow was reported at $1.8 million.
Highlights for the Year Ended December 31, 2024
For the fiscal year 2024, Rubicon Organics reported a record high net revenue of $48.7 million, a 21% increase from the previous year. The company’s Adjusted EBITDA was $4.0 million, which includes one-time ERP costs of $0.9 million. Operating cash flow for the year was $3.4 million.
Significant Events
During the quarter, Rubicon Organics secured $10 million in credit facilities at an interest rate of 6.75% for a period of 5 years. The company also entered into a purchase and sale agreement for its Hope, BC facility, which will expand its capacity for premium flower by 40%. In addition, Rubicon Organics secured a key international certification and delivered its first international shipment.
Impact on Consumers
These financial results and significant events indicate that Rubicon Organics is continuing to grow and expand its operations. Consumers can expect an increased supply of premium and super-premium cannabis products, as well as potential international availability. This growth may lead to more competitive pricing and a wider range of product offerings.
Impact on the World
The cannabis industry is a growing sector, and Rubicon Organics’ financial results and expansion plans are indicative of its potential for continued growth. This growth can lead to increased tax revenues for governments, job creation, and innovation in the industry. Additionally, the company’s focus on organic certified products aligns with the growing trend towards sustainable and health-conscious consumer choices.
Conclusion
Rubicon Organics’ financial results for Q4 2024 and fiscal year 2024 demonstrate the company’s significant growth and expansion plans. Consumers can look forward to an increased supply of premium and super-premium cannabis products, while the world can expect positive economic and societal impacts from the continued growth of the cannabis industry.
- Rubicon Organics reports record high net revenue of $14.2 million for Q4 2024, a 42% increase from Q4 2023
- Company achieves Adjusted EBITDA of $1.6 million and positive operating cash flows of $2.3 million
- Secures $10 million credit facilities and enters into agreement to expand capacity by 40%
- First international certification and shipment secured
- Net revenue for fiscal year 2024 reaches $48.7 million, a 21% increase from previous year
- Impact on consumers: Increased supply of premium and super-premium cannabis products, potential for international availability, and potentially competitive pricing and a wider range of product offerings
- Impact on the world: Continued growth of the cannabis industry, potential for increased tax revenues, job creation, and innovation
