Core Points - Decibel Cannabis Company Inc. held its annual and special meeting of shareholders on December 11, 2025, where all matters submitted for consideration were approved [1][2] Meeting Results - The number of directors elected at the meeting was fixed at four, with Shawn Dym, Nadia Vattovaz, Jakob Ripshtein, and Benjamin Sze elected as directors [8] - MNP LLP was appointed as the Company's auditors, with their remuneration to be fixed by the board of directors [8] - The 2025 Stock Option Plan was reapproved as detailed in the management information circular and proxy statement dated October 30, 2025 [8] - Shareholders authorized the Company to consolidate all issued and outstanding common shares on a basis of up to fifty pre-consolidation shares to one post-consolidation share, with the specific ratio to be determined by the board [8] Company Structure - Following the meeting, Shawn Dym, Nadia Vattovaz, and Jakob Ripshtein were appointed to serve on the Corporation's committees, with Vattovaz as chair of the Audit Committee and Ripshtein as chair of the Governance, Compensation, and Nominating Committee [4] Company Overview - Decibel is a consumer-focused cannabis company committed to innovation and product quality, with leading brands such as General Admission, Qwest, and Vox [5] - The Company operates a processing and manufacturing facility in Calgary, Alberta, and two cultivation facilities in British Columbia and Saskatchewan, along with an EUGMP licensed facility in Ontario [5]

Core Insights - Decibel Cannabis Company Inc. reported strong financial results for the third quarter of 2025, indicating that its growth strategy is effective and that international demand is exceeding supply [2][5][11] Financial Performance - Gross Canadian recreational sales reached CAD 38.97 million for Q3 2025, up from CAD 36.59 million in Q3 2024, marking a 6% increase [4] - Net Canadian recreational sales were CAD 24.51 million, a 3% increase year-over-year [5] - International sales surged to CAD 8.41 million in Q3 2025, compared to CAD 0.31 million in Q3 2024, reflecting a significant growth driven by AgMedica's contributions [4][5] - Total gross revenue for Q3 2025 was CAD 47.38 million, up from CAD 36.90 million in Q3 2024, representing a 28% increase [4] - Adjusted EBITDA for Q3 2025 was CAD 7.27 million, a 40% increase from CAD 5.21 million in Q3 2024 [5][6] Profitability Metrics - Gross profit before fair value adjustments was CAD 15.36 million, with a gross margin of 47% for Q3 2025, down from 53% in Q3 2024 [4][5] - Adjusted net income for Q3 2025 was CAD 3.76 million, compared to CAD 2.06 million in Q3 2024, indicating a year-over-year increase of 82% [6][19] Cash Flow and Capital Management - Free cash flow for Q3 2025 was CAD 1.53 million, a slight decrease from CAD 1.83 million in Q3 2024 [6][19] - Adjusted free cash flow increased to CAD 5.18 million in Q3 2025, up from CAD 2.73 million in Q3 2024 [6][19] Guidance and Market Conditions - The company revised its full-year 2025 guidance for net revenue to approximately CAD 115 million and Adjusted EBITDA to approximately CAD 24 million, down from previous estimates of CAD 130 million and CAD 25 million respectively [8][11] - Factors affecting guidance include the halt of cannabis imports by the German Federal Institute for Drugs and Medical Devices and a strike affecting cannabis distribution in British Columbia [9][11]