Greenway Announces First Quarter Financial Statements
KINGSVILLE, ON, Aug. 27, 2025 /PRNewswire/ - Greenway Greenhouse Cannabis Corporation (CSE:GWAY) (OTCQB:GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, today filed its unaudited condensed interim financial statements for the first quarter ended June 30, 2025.
Highlights for the quarter ended June 30, 2025. All amounts are expressed in Canadian dollars:
Average net sales price per gram increased to $1.71 (Q1 F2025: $1.11): a 54% increase per gram and a cash cost per gram in finished goods decreased to $0.70 (Q4 F2025: $0.92). This is the highest difference in sales price to cash cost in the Company's history.
Net cannabis revenue of $1,621,062 (Q1 F2025: $2,394,159).
Gross profit improved to $841,227 (Q1 F2025: $342,922).
Gross margin improved to 50% (Q1 F2025: 14%); gross margin before fair value adjustments rose to 30% (Q1 F2025: 14%).
Adjusted EBITDA was $78,723 (Q1 F2025: $316,431).
Net loss narrowed to $166,453, an improvement of $375,025 (69%) compared to Q1 F2025, driven by higher gross margin.
Finished goods inventory totaled 1,274,617 grams valued at $1,174,581, positioning the Company to meet purchase orders.
Cash balance of $2,192,005 with positive working capital (excluding related party amounts) of $4,203,627.
International Growth Strategy
On July 31, 2025, Greenway entered into a supply agreement with 4C LABS, a leading medical cannabis company in the United Kingdom, focused on providing patients with world-class medical cannabis products. Through this agreement, Greenway expects to supply high-quality dried flower to 4C LABS, one of the UK's leading importers and distributors of cannabis-based pharmaceuticals.
As part of this international expansion strategy, Greenway has strategically increased its finished goods inventory. International cannabis sales typically have longer sales cycles, and maintaining higher inventory levels ensures the Company is prepared to meet the needs of global partners moving forward.
"This quarter demonstrates the resiliency of our model and the discipline of our team," said Jamie D'Alimonte, CEO of Greenway. "Despite lower volumes, we achieved significantly higher pricing, improved gross margins, and a substantial reduction in ...
