Greenway Announces Audited Year End Financial Results
Sentiment Analysis
Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian and international medical cannabis markets, today announced its audited financial results for the year ended March 31, 2026.
During Fiscal 2026, Greenway continued executing its strategy of increasing exposure to higher-value domestic and international cannabis markets, resulting in a 21% increase in average selling price per gram to $1.60, while generating Adjusted EBITDA of $1.1 million, marking the Company's second consecutive year of positive Adjusted EBITDA.
Fiscal 2026 Highlights Net revenue of $7.4 million, compared to $8.9 million in Fiscal 2025 as volume moderated but pricing improved. Average net selling price increased 21% to $1.60 per gram, compared to $1.32 per gram in Fiscal 2025. Gross margin before inventory impairment and IFRS fair value adjustments improved to 29%, compared to 18% in Fiscal 2025. Generated positive EBITDA for the second straight Fiscal Year, with Adjusted EBITDA of $1.1 million in Fiscal 2026 and $1.2 million in Fiscal 2025. Internationally bound flower sales continued to expand, increasing to approximately 50% of total flower sales in the fourth quarter. This revenue is generated through domestic companies exporting to international medical cannabis markets. Excluding related-party balances, the Company maintained a positive working capital balance of approximately $4.5 million, up from $4.0 million in the prior year. Continued strengthening relationships with international medical cannabis partners while focusing production on premium cultivars with stronger long-term pricing characteristics.
"Fiscal 2026 was a year of transition for Greenway as we continued repositioning our business toward higher-value markets," said Jamie D'Alimonte, Chief Executive Officer of Greenway Greenhouse Cannabis Corporation. "While lower sales volumes impacted revenue during the year, we achieved our highest average selling price as a public company, improved our underlying operating margins, and continued expanding our international business, which now represents approximately half of our current sales. We also made the decision during the fourth quarter to take a conservative approach to valuing certain legacy inventory that no longer reflects our production strategy. Although this resulted in a significant charge recognized, we believe it better positions Greenway moving forward as we continue focusing on premium genetics, disciplined cost management and growing our presence in international medical cannabis markets."
Financial Summary Net revenue for Fiscal 2026 was $7.4 million, compared to $8.9 million in Fiscal 2025. The decrease reflected lower sales volumes during the year as wholesale market conditions evolved. Despite lower volumes, Greenway increased its average realized selling price by 21%, reflecting an improved product mix and continued growth in higher-value domestic and international sales. The Company reported a gross margin before inventory impairment and IFRS fair value adjustments of 29%, compared to 18% in Fiscal 2025, demonstrating continued operational improvements throughout the business. Including the fourth-quarter inventory impairment, gross margin before fair value adjustments was 15% for the year. Adjusted EBITDA of to $1.1 million, compared to $1.2 million in Fiscal 2025, reflecting continued operational discipline despite softer market conditions. Net loss for the year was $2.6 million, compared to $2.1 million in Fiscal 2025. The increase was primarily attributable to the one-time $1.1 million inventory impairment recognized during the fourth quarter.
Source: PRNewsWire
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