KINGSVILLE, ON – Greenway Greenhouse Cannabis Corporation, a cultivator of greenhouse cannabis for the Canadian market, reported its interim financial results for the third quarter ended December 31, 2024.
Highlights
Greenway produced a net revenue of $1,676,721 in Q3 2025, an increase of 21% from the same quarter in fiscal 2024.
For the nine months ended December 31, 2024, the Company has reported $5,877,837 in net revenue, an increase of 57% from the same time period in fiscal 2024, and also surpassing the total of the previous full fiscal year.
Greenway has continued to see an increase in cannabis prices, realizing $1.58 per gram this quarter, up from $1.22 in the previous quarter, a 30% increase.
Greenway achieved a positive Adjusted EBITDA of $85,758 for the three months ended December 31, 2024.
Net cash provided by operating activities was $748,267 for the nine months ended December 31, 2024, compared to net cash used of $1,804,206 in the same period in 2023.
Greenway’s MillRite brand maintained its position as the #2 ranked brand of pre-roll in its size segment, including having the #2 ranked indica and sativa pre-roll SKUs.
Greenway launched new SKUs in the Canadian recreational market with new Lavender Haze, Pink Moon and Blue Crush SKUs, and the addition of new brands like the Jeffrey, Grapefruit God Bud, Watermelon Pebbles, Pink Lemonade, Duke Nukem, Tangerine Dream and Blackberry Cheesecake.
“I am pleased to see that we continue to improve our sales compared to previous periods, and it Is because of our strong product and team that this quarter has shown a 21% increase from the same quarter in FY24. Over the first three quarters of the year, we have achieved a 57% increase in net revenues,” said Carl Mastronardi, President of Greenway. “The Canadian cannabis industry is rebounding, and Greenway is helping to lead the charge. As we continue to see the price of wholesale cannabis increase, we are looking toward new and emerging markets to ensure we are capturing the maximum value of our product. I am proud that consumers around the world have begun to be able to experience our product, and we will continue to expand our distribution both domestically and internationally.”
A copy of the unaudited condensed interim financial statements for the three and nine months ended December 31, 2024, are prepared in accordance with International Financial Reporting Standards (IFRS) and the related Management’s Discussion and Analysis is available under the Company’s profile on www.sedarplus.ca.
