Cannabis Producer, Rubicon Organics, Reports Seventh Consecutive Quarter Of Positive Cash Flow & EBITDA
Rubicon Organics Inc. (TSXV: ROMJ) (OTC: ROMJF), a leading producer of organic certified, premium cannabis, has reported its financial outcomes for the year ended December 31, 2023, showcasing significant growth.
The company achieved a net revenue of $40.1 million, marking a 13% increase from the previous year, driven by its diversified product portfolio and strong brand presence in the premium cannabis sector.
Janis Risbin, CFO, noted “I am pleased to announce that Rubicon has attained its seventh consecutive quarter of positive Adjusted EBITDA and sixth consecutive quarter of positive operating cashflow. Despite the challenges faced in the latter half of 2023 due to competitive pricing pressures in the Canadian cannabis sector and broader negative macroeconomic factors affecting Canadian consumers, we are optimistic about …