Greenway Announces Third Quarter Financial Statements

Executive Summary

• Greenway reported Q3 FY2025 net cannabis revenue of C$2.35 M, a 40% YoY increase and generated its fifth consecutive quarter of positive adjusted EBITDA (C$399,738).
• Gross profit rose to C$680,589 with gross margin improving to 29% (up from 15% in Q3 FY2024).
• The company issued 402,549 common shares to a consultant as payment for advisory services, subject to a four‑month hold period.

Key Details

• Revenue: Net cannabis revenue C$2,348,797 (Q3 FY2025) vs. C$1,676,721 YoY (+40%). Nine‑month total C$6,062,528 vs. C$5,877,837 prior year.
• Pricing: Average net sales price per gram C$1.51 (down from C$1.58 YoY).
• Cost Structure: Cash cost per gram sold C$0.92 (down from C$1.03 YoY).
• Gross Profit & Margin: Gross profit C$680,589 (up from C$249,197 YoY); gross margin 29% (vs. 15% YoY). FY2026 projected gross profit C$2,321,996 (+350% vs. prior year).
• Operating Income: Positive operating income for the fourth straight quarter.
• Adjusted EBITDA: C$399,738 (up from C$85,758 YoY), fifth consecutive positive quarter.
• Inventory: Finished goods inventory 3,053,665 g valued at C$3,377,433.
• Liquidity: Cash C$1,181,770; working capital (ex‑related parties) C$5,819,285.
• Share Issuance: 402,549 common shares issued to Abingdon Capital Corp. consultant at deemed prices $0.15–$0.25 per share as partial payment for corporate‑finance advisory services; subject to a four‑month + 1‑day hold period per CSE rules.
• Non‑IFRS Measures: Adjusted EBITDA reconciliation provided; net loss and comprehensive loss for the quarter $(134,975).

Notable Quotes

“We are pleased to report our Q3 results which delivered revenue growth of 40% year‑over‑year, expanding margins, and our fifth consecutive quarter of positive adjusted EBITDA.” – Jamie D’Alimonte, CEO

“Our production team was able to reduce cash cost per gram over 10%, to $0.92 from $1.03 a year ago… disciplined execution drives durable results.” – Carl Mastronardi, President