Highlights for the second quarter ended September 30, 2025. All amounts are expressed in Canadian dollars:
Average net sales price per gram increased to $1.96 (Q2 F2025: $1.22): a 60% increase per gram and cash cost per gram sold decreased to $0.72 (Q2 F2025: $1.00), a 28% decrease. This marks the widest margin between sales price and cash cost the Company has recorded to date.
Net cannabis revenue of $2,092,669 (Q2 F2025: $1,806,957), a 15% increase from the prior period.
Gross profit improved to $827,178 (Q2 F2025: gross loss of $88,955) in the quarter. For the first half of fiscal 2026, gross profit totaled $1,641,405, representing more than a 500% increase compared to the prior year.
Gross margin improved to 40% (Q2 F2025: negative gross margin of 5%); gross margin before fair value adjustments rose to 53% (Q2 F2025: 6%).
Adjusted EBITDA was $835,278 (Q2 F2025: negative EBITDA of $253,010)
Generated operating income of $183,272 (Q2 F2025: operating loss of $770,347).
Net loss narrowed to $114,436, an improvement of $929,188 (89%) compared to Q2 F2025, driven primarily by higher gross margin.
Finished goods inventory totaled 2,193,723 grams valued at $2,626,052, supporting expected customer demand requirements.
The Company ended the quarter with a cash balance of $1,772,884 and positive working capital (excluding related party amounts) of $4,973,109.
On July 31, 2025, the Company entered into a supply agreement with 4C LABS, a leading medical cannabis company located in the United Kingdom, focused on providing patients with world class medical cannabis products. Through the agreement the Company expects to supply high-quality, dried flower product to 4C LABS, a leading importer and distributor of cannabis-based pharmaceuticals in the United Kingdom.
"This year, we have been focused on preparing Greenway for its next stage of growth in a deliberate, sustainable, and methodical way. The improvements we've made across our operations, product strategy, and cost structure are now translating into meaningful financial results, giving us strong confidence in the path ahead," said Jamie D'Alimonte, CEO of ...
