Rubicon Organics Inc (OTCPK:ROMJF)
$ 0.296 -0.0365 (-10.98%) Market Cap: 17.06 Mil Enterprise Value: 18.04 Mil PE Ratio: 0 PB Ratio: 0.66 GF Score: 29/100
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Q3 2024 Rubicon Organics Inc Earnings Call Transcript

Nov 14, 2024 / 03:00 PM GMT
Release Date Price: $0.285 (+12.43%)

Key Points

Positve
  • Rubicon Organics Inc (ROMJF) achieved record net revenue for both the three and nine-month periods ending September 30, 2024, with increases of 34% and 15% respectively compared to the prior year.
  • The company reported its highest adjusted positive EBITDA for a quarter and achieved a second consecutive quarter of profit from operations.
  • Rubicon Organics Inc (ROMJF) maintained a strong market share in the premium flower, pre-roll, premium edible, and topical markets in Canada.
  • The launch of their Vape products has been successful, becoming the fastest and widest product launch in the company's history, with over 55% national distribution achieved in just six months.
  • The company has successfully diversified its product portfolio, capturing almost 29% of the premium edibles market within a year of launch.
Negative
  • The Canadian cannabis market is facing challenges such as excise taxes and competition from the black market, which could impact growth.
  • Rubicon Organics Inc (ROMJF) experienced a dip in gross margin in Q1 2024 to 25% due to market trends like price compression and a shift to lower price larger formats.
  • The company's investment in ERP implementation has depressed adjusted EBITDA by $600,000 this year.
  • There is a mixed performance in the Simply Bare Organic brand, with steady market presence but unchanged market share from the prior year.
  • The company faces pricing pressures and competition within the premium category, impacting margins and profitability.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ROMJ.V - Rubicon Organics Inc
Q3 2024 Rubicon Organics Inc Earnings Call
Nov 14, 2024 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone.

Welcome to the conference call for Ruport Organic third quarter. Financial results for the three and nine months ended, September 32,024.

As a reminder, this conference call is being recorded on November 14th, 2024.

At this time, all participants are in a listen-only mode.

Following the presentation, we will conduct a question and answer session.

Instructions will be provided at that time for research analysts to queue up for questions.

Before we begin, I will refer you to slide 2 of our presentation which contains Rubicon's caution regarding forward-looking statements and nongaap measures. Today's presenters will be Margaret Brodie CEO and Janice Risin
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