#Canada #Cannabis #Kingsville #Financials #Greenway Greenhouse

Greenway Greenhouse Reports Third Quarter Results

Greenway Greenhouse Cannabis Corporation, widely recognized for its high-quality greenhouse cannabis operations in Canada, has released its unaudited financial statements for the third quarter ending December 31, 2025. The financials depict a remarkable trajectory of growth, showcasing a 40% increase in net cannabis revenue compared to the same quarter last year.

Financial Highlights

The company reported net cannabis revenue of approximately CAD 2.35 million, up from CAD 1.68 million during Q3 of the fiscal year 2025. This growth translates to an impressive annual increase that reflects the company’s strategic initiatives in scaling operations and enhancing product quality. In terms of sales pricing, the average net sales price per gram stood at CAD 1.51, a slight decrease from CAD 1.58 noted in Q3 of the previous year.

A significant achievement for Greenway is the reduction in cash cost per gram sold, which fell to CAD 0.92, down from CAD 1.03 in the prior year. This drop reflects the company’s commitment to operational efficiency and diligent cost management. On the profitability front, gross profit for the quarter reached CAD 680,589, a notable improvement from CAD 249,197 in Q3 of the previous year, translating to a gross margin increase to 29% compared to 15% the prior year.

Continuing this trend, Greenway generated positive operating income for the fourth consecutive quarter, marking a consistent performance in financial health. Adjusted EBITDA also demonstrated a robust upswing, amounting to CAD 399,738 versus CAD 85,758 from the same quarter last year, indicating a CAD 313,980 increase. This marks the fifth consecutive quarter with positive adjusted EBITDA, demonstrating the company's growing operational strength.

Inventory and Cash Position

As of the quarter-end, Greenway reported finished goods inventory totaling over 3 million grams valued at approximately CAD 3.38 million, positioning the company to meet anticipated demand effectively. The firm’s cash position was also strong, with cash reserves totaling CAD 1.18 million and a working capital of roughly CAD 5.82 million, reflecting a solid foundation for future growth and operational initiatives.

CEO Insights

Jamie D'Alimonte, CEO of Greenway, shared insights on the company’s performance. "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. Our quarter-end cash plus the value of finished goods inventory total more than CAD 4.5 million, giving us a healthy working capital position to support anticipated demand for our high-quality products." D'Alimonte emphasized the company’s objective to establish a resilient and high-quality cannabis platform capable of generating consistent returns throughout industry cycles.

Carl Mastronardi, President of Greenway, added, "Our production team successfully reduced cash costs significantly, reflecting our disciplined execution in this competitive market. Moving forward, we are focused on efficiently scaling production, optimizing yields, and enhancing our product mix to sustain our growth momentum across the platform."

Shares Issuance

In a related note, Greenway announced the issuance of shares to an arm's-length consultant, Abingdon Capital Corporation, totaling 402,549 common shares ranging from CAD 0.15 to CAD 0.25 per share. This issuance serves as part of the compensation for corporate finance advisory services and is subject to a four-month hold period according to the regulations of the Canadian Securities Exchange (CSE).

Conclusion

Overall, Greenway’s third-quarter performance highlights its strategic focus on revenue growth and operational efficiency. The significant improvements in financial performance underscore the company’s potential to thrive in the Canadian cannabis marketplace as it continues to innovate and respond to evolving consumer demands. Investors and stakeholders are encouraged to monitor the company’s progress as it implements its growth strategies in the upcoming quarters.