Green Rise Foods Announces Q3 Fiscal 2025 Financial Results

Executive Summary

• Green Rise Foods reported FY‑2025 nine‑month fresh produce revenue of CDN $23.4 M, a 2% decline versus the prior year.
• Adjusted EBITDA fell to CDN $4.6 M for the nine‑month period, down 31% (≈ $2.1 M) from the same period in 2024.
• Management attributed the performance drop to adverse weather conditions and timing of government grants, but expressed confidence in a stronger fourth quarter and confirmed finalizing 2026 crop selections with partner Mastronardi Produce Ltd.

Key Details

• Revenue: CDN $23.4 M for nine months ended Sep 30 2025 (‑2% YoY); CDN $11.3 M for the three‑month period ended Sep 30 2025 (‑2% YoY).
• Adjusted EBITDA: CDN $4.6 M for nine months ended Sep 30 2025 (down $2.1 M, ‑31% YoY); CDN $2.9 M for the three‑month period ended Sep 30 2025 (down $0.7 M, ‑19% YoY).
• Key Drivers: Colder winter, excessive heat waves (late June–mid August), and timing of government grants recognized in the prior year impacted earnings.
• Outlook: Management expects a solid fourth quarter to finish the year strong.
• Operational Update: 2026 crop selections have been finalized with partner Mastronardi Produce Limited.

Notable Quotes

“A colder winter and excessive heat waves … were the primary factors behind the decline in Adjusted EBITDA. Despite these challenges, our grow teams worked diligently to mitigate these impacts, and we anticipate a solid fourth quarter to finish the year strong.” – Vincent Narang, CEO.