Cannabis Co. Grown Rogue Reports 7% Increase In Q3 Revenue, Focuses On New Jersey And Illinois Expansion
Grown Rogue International Inc. (CSE:GRIN) (OTC:GRUSF) reported its third quarter 2024 results on Thursday for the three months ended Sept. 30, 2024.
“This was another exciting quarter for Grown Rogue with solid financial metrics showing the continued execution by our team in competitive markets against a backdrop of modest price compression,” CEO Obie Strickler said. “We continue to see strong indoor production yields of craft-quality flower, retail buyer and consumer loyalty, and great initial reception and sell-through with our branded pre-rolls, including our newest brand Yeti.”
Q3 2024 Financial Highlights
The comparison period for 2023 is the three months ended Oct. 31, 2023, due to the fiscal year-end change from Oct. 31 to Dec. 31.
- Revenue totaled $7 million, up 7% compared to $6.5 million in the fourth quarter of 2023.
- Gross profit amounted to $3.9 million, a decrease from $4.4 million in Q4 2023, primarily due to lower margins in Oregon and pricing pressures.
- Adjusted EBITDA was positive at $2.1 million, …