GRUSF - Craft Cannabis Co. Grown Rogue Sees 29% Revenue Increase In Q4 Expands Construction Progress In New Jersey | Benzinga
Grown Rogue International Inc. (CSE:GRIN) (OTC:GRUSF) reported on Tuesday its unaudited fiscal fourth quarter 2023 results for the three months ended Oct. 31, 2023.
The craft cannabis company operating in Oregon and Michigan, as well as in Minnesota and Maryland through an advisory agreement with Goodness Growth Holdings, Inc. (OTCQX:GDNSF) (CSE:GDNS), revealed a 29% year-over-year increase in revenue hitting $6.5 million in the fourth quarter.
“Our $6.5M in revenue continues our upward trajectory with a sequential increase of 3%, despite the cyclicality of our Oregon outdoor business, where sales were down $0.2M from the previous quarter and $0.5M from Q2 2023,” CEO Obie Strickler said.
Q4 2023 Financial Highlights
- Gross profit was $4.4 million.
- Net loss was approximately $2 million.
- Adjusted EBITDA came in positive $2.1 million compared to $1.7 million adjusted ...