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Rubicon Organics Inc (ROMJF) is a Canadian-based company engaged in the production and distribution of high-quality, organic cannabis products. The company focuses on sustainable cultivation practices, innovative product development, and strategic brand positioning to become a leading player in the cannabis industry.
With a diverse product portfolio that includes flower, pre-rolled products, concentrates, and edibles, Rubicon Organics aims to cater to various consumer preferences in the Canadian cannabis market.
Recent financial results indicate a positive outlook for the company, with plans for operational growth, expansion of market share, and refinancing of debt to support long-term sustainability. The company's commitment to quality, brand differentiation, and operational efficiency sets it apart in the competitive cannabis landscape.
Rubicon Organics reported significant growth in its financial results for 2022, achieving a record net revenue of $35.5 million, reflecting a 57% increase compared to 2021. The company reached Adjusted EBITDA profitability of $1.9 million and positive operating cash flow of $2.0 million. In Q4 2022, net revenue was $11.0 million, up 61% year-over-year. Despite challenges, including production adjustments and market competition, Rubicon maintained a 6.3% national market share in premium cannabis products and anticipates continued growth in 2023.
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