Operator

Good morning, everyone. Welcome to Rubicon Organics' Q1 2026 Earnings Call for the 3 Months Ended March 31, 2026. As a reminder, this call is being recorded. [Operator Instructions] Before we begin, please refer to Slide 2 for our caution regarding forward-looking statements and non-GAAP measures. Today's presenters are Margaret Brodie, CEO; and Glen Ibbott, CFO. I'll now turn the call over to Margaret.

Margaret Brodie
CEO & Director

Good morning, everyone. Today I'm providing an update on Rubicon Organics and our progress on 2026, the year we've described as a year of 2 halves. As previously outlined, 2026 is a transition year, with our new Cascadia facility ramping up and adding costs to the business in the first half as we complete the ramp-up, whereas in the second half, we expect to meaningfully see the financial benefits.

In the first quarter of '26, we saw revenue from our existing footprint, excluding Cascadia, grow 11% year-over-year. At the same time, our gross profit and bottom line were impacted by Cascadia's prerevenue ramp-up. Glen will walk through the financial results shortly and provide additional context behind the numbers.

Rubicon continues to be Canada's #1 premium licensed producer. Our focus this quarter has been balanced between delivering today while building for tomorrow. Nowhere is that more visible than at our Cascadia facility. Our first harvests are complete with batches showcasing promising results with THC potencies closely comparable to Pacifica. This provides early validation that this new facility will uphold the quality standards our