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Earnings Keep Rolling As Reform Momentum Builds

By Shadd Dales On May 18, 2026

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down another busy week of cannabis earnings with reform on the horizon with two very different stories playing out in the sector right now. First up, Rubicon Organics (TSXV:ROMJ / OTCQX:ROMJF) CEO Margaret Brodie joins the show after the company reported Q1 results that showed revenue growth, but also some short-term pressure tied to the Cascadia facility ramp. In segment two, Jushi Holdings (CSE:JUSH / OTCQX:JUSHF) CEO Jim Cacioppo joins us to talk through the company’s latest quarter, and finally, FundCanna CEO Adam Stettner returns for his weekly updates.

Rubicon Organics CEO Margaret Brodie breaks down the company’s Q1 results, which showed $13.7 million in revenue, up 11% year-over-year, though margins came under short-term pressure as the company ramps up its newly licensed 47,000-square-foot Cascadia facility. Management is deliberately absorbing near-term profitability headwinds in order to position brands like Simply Bare, 1964 Supply Co., and Wildflower for a much stronger second half of 2026. She also acknowledges that a BC distributor strike dragged on Q1 performance, but expressed confidence that headwind is now behind them. On the international front, Brodie highlighted strong reception at the ICBC trade show in Germany and growing demand from medical markets abroad, underscoring the company’s ambition to become the most trusted house of premium cannabis brands globally.

Jushi Holdings CEO Jim Cacioppo followed with an upbeat assessment of his company’s latest quarter, which delivered $66.4 million in revenue alongside improving margins, stronger wholesale numbers, and one of the more significant refinancing stories the sector has seen this year — one Cacioppo personally backed with a $28 million investment.

The conversation covered Virginia adult-use, Ohio’s improving sales trends following hemp enforcement, Pennsylvania legalization prospects, and why management believes tightening hemp regulations could become a meaningful catalyst for licensed operators.

FundCanna CEO Adam Stettner offers a capital markets perspective on earnings season with reforms possibly underway, touching on what operators should be watching in the developing Georgia medical market and what the current financing environment reveals about where the industry is headed. Catch it all when you listen in.

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Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.