Greenway Announces Filing of its Audited Year-End Financial Statements For the Fiscal Year ended March 31, 2025

Executive Summary

• Greenway Greenhouse Cannabis Corporation filed its audited annual financial statements for the fiscal year ended March 31, 2025, reporting significant growth in revenue, profitability, and cash flow compared to the prior year.
• The company achieved a 71% increase in annual net revenue and transitioned from a net loss to a positive Adjusted EBITDA, marking a strategic turning point in operational efficiency and profitability.
• Key operational metrics include a 23% increase in grams sold and a 40% increase in average sales price per gram, driven by strong demand for high-quality greenhouse cannabis.

Key Details

• Annual Net Revenue: $8,948,943 CAD, representing a 71% increase year-over-year.
• Fourth Quarter Net Revenue: $3,071,106 CAD, a 107% increase from the same quarter in the prior fiscal year.
• Volume Sold: Total grams or grams equivalent sold were 6,803,628, a 23% increase year-over-year.
• Average Sales Price: $1.32 per gram annually (up 40% from prior year); Q4 average was $1.46 per gram.
• Cost of Goods Sold: Average cash cost per gram sold was $0.83 annually; Q4 cost was $0.73 per gram.
• Adjusted EBITDA: $1,181,419 for the year, compared to a negative Adjusted EBITDA of $624,391 in the prior year.
• Net Income: The Company achieved a net income of $202,729 in the fourth quarter.
• Cash Flow: Net cash provided by operating activities was $1,806,461, compared to net cash used of $2,047,081 in the prior year.
• Cash Balance: Increased by $1,612,088 over the fiscal year, ending with a balance of $3,142,898.
• Working Capital: Positive working capital of $3,997,814 as at March 31, 2025 (up from $3,283,911 in the prior year), excluding amounts due to related parties.
• Non-IFRS Reconciliation: Adjusted EBITDA was calculated by adding back amortization, fair value adjustments on inventory and biological assets, shares issued for services, bad debt, impairment, and interest expense to the net loss of $(2,057,449).

Notable Quotes

• "This past year marks a true turning point for Greenway. Our 71% increase in annual revenue and over 100% revenue growth in the fourth quarter underscore the growing demand for our high-quality cannabis. We're especially proud to see average selling prices rise 40% year over year—reflecting both the strength of the Greenway brand and the premium nature of our flower. Perhaps most importantly, we transitioned from burning cash to generating it, with over $1.8 million in net cash provided by operating activities. This kind of momentum: positive EBITDA, stronger margins, and disciplined cost control sets the foundation for our next phase of growth." – Jamie D'Alimonte, CEO