Kingsville, ON – September 04, 2026 -- Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) reported net revenue of CA$2.23 million for the three months ended June 30, 2026, up 38% from CA$1.62 million a year earlier, while grams sold hit a record 2.33 million, an 8% increase over the prior high.
Cash cost per gram falls 30% to CA$0.69 as production efficiency improves
The company generated CA$36,778 in cash from operating activities, reversing a cash outflow of CA$865,538 in the same quarter last year. Adjusted EBITDA came in positive at CA$47,900, even as net loss and comprehensive loss totaled CA$659,893. Gross margin before fair value adjustments narrowed to 12%, reflecting a lower average net sales price of CA$0.96 per gram, or CA$1.30 per gram excluding inventory tied to discontinued cultivars.
Legacy cultivar sell-off pressures pricing but Greenway retains liquidity
The lower net selling price stemmed largely from clearing inventory associated with retired cultivars, written down to net realizable value as of March 31, 2026. Cash stood at CA$1,133,209 at quarter-end, with positive working capital of CA$4,537,711 excluding amounts due to related parties. Cost of sales before fair value adjustments rose to CA$1,969,262 from CA$1,136,239, driven by higher sales volume, while operating expenses declined to CA$632,571.
Management ties portfolio shift to international expansion plans
Since beginning international shipments in late 2024, Greenway has prioritized premium cultivars and cost discipline to expand into worldwide medical cannabis markets. "Selling 2.33 million grams in the quarter—approximately 8% above our previous quarterly record—demonstrates the throughput Greenway's team and operating platform can support," said Carl Mastronardi, President of Greenway. CEO Jamie D'Alimonte said the sale of legacy inventory affected pricing and margins but the company remained Adjusted EBITDA positive, adding that refined genetics and product mix are intended to align production with markets offering the strongest long-term value.
Greenway distributes product across Canada and four international markets
The company's product is now available in all Canadian jurisdictions and four international markets. Separately, Greenway issued 478,404 common shares to Abingdon Capital Corporation at deemed prices between CA$0.15 and CA$0.18 per share, satisfying a portion of the monthly work fee owed under a June 4, 2024 corporate-finance advisory engagement. The shares carry a four-month-and-one-day hold period under CSE policies.