February 25, 2026 – Kingsville, Ontario, Canada
Greenway Greenhouse Cannabis Corporation has reported its financial results for the third quarter ended December 31, 2025, highlighting significant revenue growth, margin expansion, and continued operational efficiency improvements. The company, a Canadian greenhouse cannabis cultivator, recorded net cannabis revenue of CAD $2.35 million, representing a 40% year-over-year increase compared to the same quarter in the previous fiscal year. This performance reflects enhanced production scalability, improved cost management, and strengthening customer relationships within the Canadian cannabis market. For the nine-month period ending December 31, 2025, net cannabis revenue reached CAD $6.06 million, reinforcing consistent growth momentum across the fiscal year.
Revenue Expansion and Margin Improvement
During the quarter, Greenway achieved a substantial improvement in profitability metrics. Gross profit increased to CAD $680,589, compared to CAD $249,197 in the prior-year quarter, while gross margin expanded to 29%, up from 15%. The company attributed this performance to disciplined production practices and operational optimization. Notably, cash cost per gram sold decreased to CAD $0.92, reflecting a more than 10% reduction from the previous year’s CAD $1.03.
The company also generated positive operating income for the fourth consecutive quarter, signaling improved financial stability and cost control. Adjusted EBITDA reached CAD $399,738, marking the fifth straight quarter of positive adjusted EBITDA and a significant increase from CAD $85,758 in the comparable prior-year period. These results indicate strengthening unit economics and enhanced greenhouse production efficiency within a competitive cannabis cultivation landscape.
Inventory Strength and Working Capital Position
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Greenway reported finished goods inventory of 3.05 million grams valued at CAD $3.38 million, positioning the company to support anticipated customer demand and sustain revenue growth. Quarter-end cash totaled CAD $1.18 million, while working capital (excluding related-party amounts) stood at CAD $5.82 million, reflecting a stable liquidity profile.
Management emphasized that disciplined execution and scalable production processes continue to drive operational resilience. Strategic focus remains on optimizing yields, enhancing product mix, and expanding customer partnerships to reinforce sustainable growth.
Corporate Advisory Share Issuance
As part of its corporate-finance advisory arrangements, the company issued 402,549 common shares at deemed prices between CAD $0.15 and CAD $0.25 per share to satisfy a portion of consulting fees owed under a prior engagement agreement. The shares are subject to standard regulatory hold periods under Canadian securities regulations.
The financial statements were prepared in accordance with International Financial Reporting Standards (IFRS), and management continues to utilize Adjusted EBITDA as a non-IFRS performance measure to evaluate operational efficiency and earnings strength.
Operational Outlook
Greenway’s management reiterated its commitment to building a resilient cannabis cultivation platform capable of delivering consistent returns despite market volatility. With continued cost discipline, improving production metrics, and strengthened inventory management, the company aims to capitalize on expanding demand within Canada’s regulated cannabis sector.
The results reflect a business model gaining scale, improving margins, and demonstrating operational durability within the evolving cannabis industry landscape.
Source: Greenway Greenhouse Cannabis Corporation press release
