Strong Initial Performance in New Jersey
First full quarter of sales in New Jersey, achieving strong operating performance with good cultivation yields and sell-through rates. Phase 1 production capacity is at 25% of total, with full capacity expected by early 2026.
Operational Efficiency in Core Markets
Yields were up, and cost of production was down in Oregon and Michigan despite a 20% year-over-year pricing pressure. Maintained 30% plus EBITDA margins in these markets.
Expansion Plans in New Markets
Started construction in Illinois, with plans for further expansion. Confident in managing increased costs with a strong foundation to support growth in new states.
Strong Balance Sheet
Maintained a strong balance sheet better than the previous year, supporting future growth and operational stability.