Rubicon Organics Inc. released its financial results for the first quarter ended March 31, 2022, revealing net revenue of CA$5.2 million, a 25% increase over Q1 2021.
Q1 2022 Financial Highlights:
Adjusted EBITDA loss was CA$1.52 million compared to loss of CA$3.37 million in Q 2021.
Gross profit was a CA$2.49 million compared to CA$73,637 in Q1 2021.
Loss from operations was CA$1.3 million compared to a loss of CA$3.35 million in Q1 2021.
Cash and cash equivalents were CA$8.75 million compared to CA$11.58 million in Q1 2021.
“Rubicon Organics is at a turning point in 2022, with higher …