#Canada #Greenway #Cannabis #revenue growth #Kingsville

Greenway Greenhouse Cannabis Corporation: A Year of Impressive Financial Growth

Greenway Greenhouse Cannabis Corporation, known for its premium greenhouse cannabis, has made headlines with its financial performance for the fiscal year ended March 31, 2025. The Toronto Stock Exchange listed company, operating under the symbols CSE: GWAY and OTCQB: GWAYF, unveiled its audited annual financial statements recently, and the results reflect a considerable upward trajectory in both revenue and profitability.

Financial Highlights

In a stunning turnaround, Greenway reported an annual net revenue of CAD 8,948,943, marking an astounding 71% increase compared to the previous fiscal year. The fourth quarter alone saw net revenue reach CAD 3,071,106, which represents a remarkable 107% increase from the same quarter the year before. This substantial revenue growth can be attributed to a rise in both the volume sold and the average selling price of their cannabis products.

During the fiscal year, Greenway sold 6,803,628 grams (or grams equivalent) of cannabis, a 23% increase year-over-year. The average selling price per gram surged to CAD 1.32, reflecting an impressive 40% rise compared to the prior year. Specifically, in the fourth quarter of FY 2025, the average selling price increased even further to CAD 1.46 per gram. Notably, the average cash cost for greenway's cannabis was CAD 0.83 per gram, highlighting effective cost control, with fourth-quarter costs dropping to CAD 0.73.

EBITDA and Cash Flow

Greenway achieved an Adjusted EBITDA of CAD 1,181,419, a significant improvement when compared to a negative adjusted EBITDA of CAD 624,391 the previous year. This achievement, coupled with positive working capital standing at CAD 3,997,814 as of March 31, 2025, indicates a robust financial health state for the company.

Operating cash flows also experienced a dramatic turning point, with net cash provided by operating activities reaching CAD 1,806,461, compared to a net cash outflow of CAD 2,047,081 a year prior. This upward shift underscores the effectiveness of Greenway's strategic initiatives and operational efficiencies.

Comments from Leadership

CEO Jamie D'Alimonte remarked on this pivotal year, stating, "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." Furthermore, he emphasized the company’s transition from cash consumption to cash generation, indicating a strong foundation for further growth ahead.

Future Outlook

The company is poised to continue expanding its market presence, both domestically and internationally. With its focus on cost efficiency, profitability, and providing consistent value to its shareholders, Greenway is set to embark on the next phase of its growth journey. As it capitalizes on this momentum, stakeholders can look forward to innovative developments in cannabis cultivation and marketing strategies that align with evolving consumer demands.

The audited annual financial statements, prepared in accordance with IFRS Accounting Standards, along with Management’s Discussion and Analysis, can be accessed on the company profile at SEDAR Plus.

In conclusion, Greenway Greenhouse Cannabis Corporation embodies resilience and strategic foresight, marking this year as one of growth and robust financial positioning.

Further Information

For further updates, Greenway encourages following their journey via various social media platforms including Instagram, Twitter, and LinkedIn. All stakeholders are invited to stay engaged as the company navigates the dynamic landscape of the cannabis industry.