Greenway Announces Second Quarter Financial Statements

Executive Summary

• Greenway reported a strong Q2 FY2026 with net cannabis revenue up 15% to C$2.09 M and gross profit turning positive at C$827,178 versus a loss in the prior year.
• Adjusted EBITDA swung to a positive C$835,278 and net loss narrowed dramatically to C$114,436, an 89% improvement YoY.
• The company entered a supply agreement with UK‑based 4C LABS to provide dried flower for medical cannabis markets.

Key Details

• Revenue & Margin – Net cannabis revenue: C$2,092,669 (↑15% QoQ). Gross margin improved to 40% (vs. -5% prior year); gross margin before fair‑value adjustments rose to 53%.
• Profitability – Gross profit: C$827,178 (previously a loss of C$88,955). Adjusted EBITDA: C$835,278 (vs. -C$253,010). Operating income: C$183,272 (vs. -C$770,347). Net loss: C$114,436 (↑89% improvement).
• Pricing & Costs – Average net sales price per gram increased 60% to C$1.96; cash cost per gram fell 28% to C$0.72, the widest margin recorded to date.
• Inventory & Liquidity – Finished‑goods inventory: 2,193,723 g valued at C$2,626,052. Cash balance: C$1,772,884; positive working capital (ex‑related parties) of C$4,973,109.
• Supply Agreement – On July 31 2025, Greenway signed a supply agreement with 4C LABS (UK) to deliver high‑quality dried flower for medical cannabis products.
• Non‑IFRS Measures – Adjusted EBITDA reconciliation provided; includes amortization, fair‑value adjustments, share issuances, and interest expense.

Notable Quotes

“The improvements we've made across our operations, product strategy, and cost structure are now translating into meaningful financial results… we believe the foundation we've laid positions Greenway to capitalize on new opportunities and unlock greater long‑term value for our shareholders.” – Jamie D’Alimonte, CEO

“Achieving the largest spread between sales price and cash cost in our history reflects the success of our cultivation methods and disciplined cost management.” – Carl Mastronardi, President