Rubicon Organics Earnings + Call Notes

Premium Canadian LP updates investors.

Rubicon Organics Earnings

Q424:

Record net revenues of $14.2M, +42% vs. Q423

AEBITDA of $1.6M; +OCF of $2.3M; +FCF of $1.8M
^ including $0.25M of one-time ERP costs

Secured $10M credit facilities at 6.75% for 5 years

Entered into purchase and sale agreement for Hope, BC facility,
^ expanding capacity of premium flower by 40%

Secured key international certification and delivered first international shipment

FY24:

Record net revenue of $48.7M, +21% vs. 2023

AEBITDA of $4M
^ including $0.9M of one-time ERP costs

+OCF $3.4M

"2024 marked another record year for Rubicon Organics, growing 21% Year-over-Year, dramatically outpacing market growth. Our vape launch, the fastest and widest in company history, underscores the strength of our industry leading premium brands and our ability to drive growth through reputation and high-quality innovation.

Shifting market dynamics are driving a supply shortage in Canada and creating significant opportunities for established operators. At the same time, international markets are increasingly opening up to top Canadian producers. We are excited to accelerate our expansion strategy and meet the growing demand for our premium brands both at home and abroad." Margaret Brodie, CEO

Call Notes