Decibel Reports Full-Year and Fourth Quarter 2025 Results: Revenue Grows 22% to $113 Million, Issues 2026 Guidance

Press Release

CALGARY, ALBERTA – April 16, 2026 –Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V:DB) (OTCQB:DBCCF), a leading Canadian branded cannabis company with a growing international platform, today announced its audited financial results for the three and twelve month periods ended December 31, 2025.

“Our 2025 performance tells a compelling story with 22% revenue growth, $23 million of Adjusted EBITDA and Free Cash Flow up almost 3x from last year. All in the same period where we successfully integrated a transformational acquisition and more than doubled its Adjusted EBITDA target with a growing backlog of international business. To start 2026, we have refinanced our debt with industry-leading terms to strengthen our balance sheet and support further growth. Decibel is generating real cash flow, growing internationally and compounding value with our best still yet to come. Benjamin Sze – Chief Executive Officer

Full Year 2025 Highlights

• Net Revenue of $113 million, growth of 22%
• International Sales of $24 million, growth of 484%
• Adjusted EBITDA⁽¹⁾ of $23 million, growth of 29%
• Free Cash Flow⁽¹⁾ of $5.5 million, growth of 292%
• First full year of AgMedica Bioscience Inc. (“AgMedica”) operations delivered Adjusted EBITDA⁽¹⁾ of $7 million, well above initial target of $4 million, implying a <1x transaction multiple. This represents one of the most value-accretive acquisitions in the cannabis sector.

Note:

¹ Non-GAAP financial measure. Refer to “Cautionary Statements – Non-GAAP Measures” for further details.

2026 Outlook⁽¹⁾

Financial Outlook

• Net Revenue of $130 to $135 million, implying growth of 18% to midpoint of range
• Adjusted EBITDA⁽²⁾ of $27 to $31 million, implying growth of 26% to midpoint of range

International Outlook

Decibel’s international sales grew 484% in 2025, with volumes ramping throughout the course of the year as management developed a robust customer and supplier network and a resulting backlog.  We believe international sales are positioned for significantly high double-digit growth through 2026 and beyond driven by the following:

• 14+ international customers with executed supply agreements
• 40+ GACP cultivators onboarded with executed supply agreements
• 60 Tons per Annum of flower processing capacity at 30% utilization based on Q4 2025 results
• Expanding production of EUGMP extracts to meet growing demand, allowing for ease of access into vapes and oils, with ongoing shipments into multiple countries
• Increasing value-add services including doubling the capacity of our in-house microbial remediation services

Domestic Outlook

Entering 2026, Decibel has strengthened its domestic competitive position across multiple categories including refreshing infused pre-roll offerings, introducing new disposable vapes, and launched a new value brand, Standard Issue. These initiatives address the competitive dynamics that constrained domestic growth to <1% in 2025, and we believe domestic sales are now positioned for high single-digit growth through 2026 and beyond, driven by the following:

• Launched our new Standard Issue brand, expanding our domestic target market, with early sell-through data exceeding initial forecasts by 30%
• Refreshed vape portfolio with renewed momentum for General Admission disposable offering and liquid diamond formulations. Since launch in January of 2026, Standard Issue has already grown to be a top 10 vape brand based on HiFyre data
• Reinvigorated flower offering with 4 new strains and further supply to drive growth with reintroduction of standard pre-rolls, a segment Decibel is currently under-indexed in

Notes:

¹ The Company’s outlook makes numerous assumptions. Assumptions used for the purposes of outlook may prove to be incorrect and actual results may differ from those anticipated. Refer to “Cautionary Statements – Preliminary Financial Information” for further details.

² Non-GAAP financial measure. Refer to “Cautionary Statements – Non-GAAP Measures” for further details.

Fourth Quarter Highlights

• Net Revenue was $28.7 million, a year-over-year increase of 13%. Net revenue growth in the quarter was driven by growth in international volumes supported by the AgMedica facility acquired on October 28, 2024. Total revenues contributed from the AgMedica facility were $7.6 million, of which $7.4 million were international sales and the remainder was sold domestically.
• Net Canadian Recreational Sales were $21.3 million, a year over year decrease of 3%. The Company saw strong traction on new products including flower, ultra-high-potency vapes, infused pre-rolls and large format all-in-one disposable vapes, with market share gains carrying into Q1 2026. The year-over-year decline reflects the impact of the BC Liquor Distribution Branch strike, which resulted in no sales for more than a month in the province, with sales resuming in November 2025.
• International Sales were $7.6 million, a year over year increase of 116%. The increase in international sales was driven by strong volume growth, with the Company’s customer backlog continuing to expand. The quarter was partially impacted by the German Federal Institute for Drugs and Medical Devices (“BfArM”) halting imports due to the annual approved limit being reached (the “BfArM Limit”). The BfArM Limit was subsequently expanded with imports resuming late Q4 2025. The Company remains confident that international demand continues to outpace supply and expects to deliver high double-digit growth in 2026.
• Gross Margin Before Fair Value Adjustments was49% in the fourth quarter of 2025, compared to 49% in the fourth quarter of 2024.
• Adjusted EBITDA⁽¹⁾ of$6.2 million, a year over year increase of 19%. The increase in Adjusted EBITDA for the quarter was primarily driven by international sales.
• Free Cash Flow⁽¹⁾ of $3 million, a year over year increase of 34%. The increase in Free Cash Flow is primarily attributable to strong growth in net revenue, partially offset by changes in non-cash working capital as the Company positions itself for anticipated growth.
• Adjusted Net Income⁽¹⁾ of $2.6 million, a year over year increase of 157%.
• Subsequent Events:
  • On February 10, 2026, Decibel announced the closing of a new $61 million credit facility that extends Decibel’s debt maturities out to 2030, reduces 2026 payment obligations by $5 million and provides up to $10 million in undrawn available capital. The Company’s pro forma Debt to EBITDA is expected to remain below 2.50x.
  • On February 25, 2026, Decibel announced that it had entered a conditional agreement for the sale of its cultivation property located in Creston, British Columbia. The agreed sales price is $2.5 million. The sale reflects further optimization of Decibel’s operating footprint, having no impact to the Company’s revenue outlook while anticipated to save $4 million annually.

Note:

¹ Non-GAAP financial measure. Refer to “Cautionary Statements – Non-GAAP Measures” for further details.

Summary Highlights

¹ Supplementary financial measure. Refer to “Cautionary Statements – Non-GAAP Measures” for further details.

²  Non-GAAP financial measure. Refer to “Cautionary Statements – Non-GAAP Measures” for further details.

³  Non-GAAP ratio. Refer to “Cautionary Statements – Non-GAAP Measures” for further details.

Management of the Company is pleased with its growth over the 2025 financial year including the contributions reflecting the successful integration of AgMedica during the year and the increases in its international sales.  Compared with the Company’s outlook most recently provided on November 19, 2025, the 2025 year end results were largely inline with the forecast provided, and is further discussed below and in the Company’s management’s discussion & analysis for the three and twelve month periods ending December 31, 2025 (“MD&A”), which is available under the Company’s profile on www.sedarplus.ca.

Decibel’s audited condensed consolidated financial statements for the three and twelve month periods ending December 31, 2025 (the “Financial Statements”) and related MD&A are available on SEDAR+ under the Company’s profile at www.sedarplus.ca.

The Company will host a live conference call to discuss the results at 10:00 a.m. MST the same day. The conference call can be accessed by dialing 1-800-715-9871 for Canadian participants and 1-(888)-880-3330 for U.S. participants, referencing conference ID 6569457.

For More Information Contact:

Decibel Cannabis Company Inc.

info@decibelcc.com

1-844-993-4769

www.decibelcc.com

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