E Cannabis Central: Rubicon Organics Q2 Financials Show Major Improvement In Operations

Rubicon Organics Inc. (ROMJF) reported its financial results for Q2 today. While gross and net revenue improved dramatically it still showed a net loss.

Q2 Financial Highlights (All financial information is in Canadian dollars (go here to convert into USD), unless otherwise noted, and is comparative to Q1)

  • Net Revenue: increased by 118% to $992.0M
  • Net Profit (Loss): reduced by 53% to $(1.8M)
  • Loss/Share: $(0.4)
  • Adj. EBITDA: improved by 17% to $(2.5M)
  • Cash on Hand: $12.5M

Management Commentary

Jesse McConnell, Chief Executive Officer, had the following comments:

  • “We are on track during this ramp up phase in our operations and have met our internal expectations.
    • We have established a solid platform for high quality production,
    • we anticipate significant revenue growth in the upcoming quarters as we continue to build our product inventory and sell through our newly established provincial channels. 
      • In particular, we have expanded our distribution channels across Canada from British Columbia to Ontario."


The company:

  • expects to begin distribution of its products in Germany beginning in 2021,
  • expects to achieve positive EBITDA on a monthly basis by year-end 2020,
  • expects to achieve monthly positive cash flow from operations in the first half of 2021,
  • expects to refinance debt maturing in 2021 to a long-term mortgage financing facility at lower interest rates,
  • expects to list the common shares and 3,150,000 warrants of the Company on the TSXV in September 2020.

Stock Performance

Rubicon is a constituent in the munKNEE Pot Stock Index of the 25 pure-play cannabis stocks that trade for at least US$1/share and it is one of the best performers UP 75% YTD and UP 14% so far this month.



Visit  munKNEE.com and register to receive our free Market Intelligence Report newsletter (sample  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.