Key Takeaways
- Green Rise Foods (TSXV: GRF) reported six-month fresh produce revenue of CDN $13.3 million for the period ended June 30, 2026, up 9% from CDN $12.2 million a year earlier.
- Adjusted EBITDA for the six-month period rose to CDN $2.3 million, up CDN $0.6 million, or 35%, from CDN $1.7 million in the same period of 2025.
- Interim Chief Executive Officer Enrico “Rick” Paolone credited the results partly to stronger pricing that offset weather-related headwinds in the first half of the year.
- The company grows produce across 89 acres of controlled-environment greenhouses and sells under the “SUNSET” brand through distribution partner Mastronardi Produce Ltd.
- Green Rise said it remains on track to hit its annual shipped-yield targets for the year.
Green Rise Foods Posts Higher Revenue and EBITDA
Green Rise Foods released its interim financial results for the three and six months ended June 30, 2026, on August 31. The Toronto-based grower reported six-month fresh produce revenue of CDN $13.3 million, up 9% from CDN $12.2 million in the same period last year.
Revenue and Profitability
Adjusted EBITDA for the six-month period rose to CDN $2.3 million, an increase of CDN $0.6 million, or 35%, compared with CDN $1.7 million a year earlier. Green Rise said the full financial statements and management’s discussion and analysis are posted under its profile on SEDAR+.
Executive Comment
“We are pleased with our results for the second quarter. Robust beef pricing helped offset some headwinds caused by darker days in March and April and excessive heat that occurred in late June. The Company continues make investments in infrastructure and execute crop activities to maximize lighting, reduce disease and mitigate excessive heat. We continue to remain on the trajectory to achieve our annual shipped yield targets,” said Enrico “Rick” Paolone, Board Chair and Interim Chief Executive Officer of Green Rise Foods.
About Green Rise Foods
Green Rise Foods grows fresh produce across 89 acres of wholly owned controlled-environment agriculture greenhouses, marketed under the “SUNSET” brand through distribution partner Mastronardi Produce Ltd. The company describes itself as bee-pollinated and environmentally sustainable, aiming to meet consumer demand for locally grown produce.
Source: igrownews.com
