Strong Cost Control
Grown Rogue achieved all-in 4-wall production costs of $368 and $348 in Michigan and Oregon, respectively, with potential costs under $200 for indoor production. Yields improved by 20% year-over-year with a record of 75 grams per square foot.
Balance Sheet Strength
The company upsized its credit facility by an additional $5 million, now totaling $12 million at a sub 8% interest rate, and holds a cash balance of over $13 million.
Expansion and Awards
Successful expansion into New Jersey, with the company winning two awards at the Best-in-Grass competition. The New Jersey market has been slower than hoped but is showing promise.
Minnesota Expansion Plans
Plans to expand into Minnesota with a flexible real estate strategy, allowing for potentially doubling canopy size to 30,000 square feet. Expected early product availability in 2027.
Pro forma Revenue Growth
Pro forma revenue increased by 26% year-over-year, primarily due to contributions from New Jersey.