Rubicon’s Revenue Grows, Profit Margins Shrink In Q2– What’s Next For This Canadian Cannabis Company?
On Thursday, Rubicon Organics Inc. (OTC: ROMJF) reported a net revenue of CA$12.1 million for Q2 2024, reflecting a 7% increase from Q2 2023. However, the company’s gross profit for the quarter was CA$4.05 million, down 12% from the previous year. This means that while Rubicon Organics is generating more sales overall, the amount of profit they keep after covering the costs of producing their products has decreased.
CEO Margaret Brodie highlighted Rubicon Organics’ continued leadership in the premium cannabis market, with successful launches in the vape sector contributing to the company’s growth.
Brodie noted that the company’s national distribution has reached over 40% of stores within the first two months of sales.
“We are …