Rubicon Organics Reports Record $18.5 Million in Q2 Revenue, Up 23% Year-Over-Year
- Rubicon Organics Inc. reported record Q2 2026 net revenue of $18.5 million, up 23% year-over-year and 35% from the previous quarter, with first half revenue reaching $32.1 million, an 18% increase.
- Adjusted EBITDA declined 18% to $1.1 million in Q2 2026, impacted by investments in scaling operations, including the ramp-up of the Cascadia cultivation facility.
- Rubicon maintained its position as Canada’s top premium licensed cannabis producer with a 9.7% national market share in premium flower and a 30.1% share in cannabis topicals; it also launched its 1964 brand in the UK medical cannabis market.
- The company’s two BC cultivation facilities have a combined annual capacity of 15,500 kg, with increased yields at Pacifica and expected yield targets at Cascadia; management anticipates improved revenue, EBITDA, gross margins, and cash flow in H2 2026 as production ramps up.
Rubicon Organics Inc. reported record net revenue of $18.5 million for the second quarter of 2026, an increase of 23% from the same period last year and 35% from the previous quarter.
The Canadian cannabis producer, which trades as ROMJ on the TSX Venture Exchange and ROMJF on the OTCQX, said net revenue for the first six months of the year reached $32.1 million, up 18% year-over-year. All figures are in Canadian dollars unless otherwise stated.
Adjusted EBITDA totaled $1.1 million during the quarter, down 18% from $1.4 million in Q2 2025. Rubicon attributed the decline in part to investments associated with scaling operations, including the ramp-up of its Cascadia cultivation facility.
The company said it remained Canada’s top premium licensed cannabis producer during both Q2 and the first half of 2026. Rubicon held a 9.7% national share of the premium flower market, while its Wildflower brand held a 30.1% share of the country’s cannabis topical market.
During the quarter, Rubicon also launched its 1964 brand in the United Kingdom medical cannabis market, marking the brand’s first international commercial launch. Its Cascadia facility generated approximately $500,000 in initial revenue and has begun producing cannabis that the company says meets its premium quality standards.
Rubicon’s two British Columbia cultivation facilities have a combined annual production capacity of 15,500 kilograms. The company said yields at its Pacifica facility increased roughly 20% year-over-year during the first half of 2026, while Cascadia yields are expected to reach target levels by the end of the year.
Looking ahead, Rubicon expects net revenue and adjusted EBITDA to increase through the third and fourth quarters as additional production comes online. Management also expects gross margins, adjusted EBITDA and operating cash inflows to improve during the second half of 2026 as Cascadia continues to ramp up.