KINGSVILLE, ON – Greenway Greenhouse Cannabis Corporation, a cultivator of cannabis for the Canadian market, filed its audited annual financial statements for the year ended March 31, 2025.
All amounts are expressed in Canadian dollars.
Annual net revenue of $8,948,943 for the year, an increase of 71% compared to the prior year. Fourth quarter net revenue was $3,071,106, an increase of 107% from the same quarter in the prior fiscal year.
Total grams or grams equivalent sold during the fiscal year were 6,803,628, representing a 23% increase year-over-year.
Annual average sales price of $1.32 per gram, up 40% from the prior year with a fourth quarter average sales price of $1.46 per gram.
Average cash cost per gram sold of $0.83 per gram, with a fourth quarter cost per gram sold of $0.73.
Adjusted EBITDA of $1,181,419, compared to a negative adjusted EBITDA of $624,391 in the prior year.
Excluding amounts due to related parties, the Company had a positive working capital of $3,997,814 as at March 31, 2025 (March 31, 2024 – $3,283,911).
Net cash provided by operating activities was $1,806,461, compared to net cash used of $2,047,081 in the prior year.
The Company achieved a net income for the fourth quarter of $202,729.
Cash balance increased by $1,612,088 to $3,142,898 over the course of the fiscal year.
“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. Perhaps most importantly, we transitioned from burning cash to generating it, with over $1.8 million in net cash provided by operating activities. This kind of momentum: positive EBITDA, stronger margins, and disciplined cost control sets the foundation for our next phase of growth. As we expand our presence both domestically and internationally, we remain committed to efficiency, profitability, and delivering consistent value to our shareholders,” said Jamie D’Alimonte, CEO.
A copy of the audited annual financial statements(prepared in accordance with IFRS Accounting Standards) and the related Management’s Discussion and Analysis are available under the Company’s profile on Sedar+.
About Greenway
Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Headquartered in Kingsville, Ontario, the company leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada.
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