Grown Rogue Reports 16% Revenue Increase, $10.7M Loss

Grown Rogue International reported a 16% increase in annual revenue for 2024, reaching $27 million, but also faced a significant rise in net loss to $10.7 million, largely due to non-cash items. The cannabis company improved its adjusted EBITDA by 27%, achieving $9.7 million, with notable growth in the fourth quarter where it reported a profit of $1.7 million. Additionally, Grown Rogue secured a $7 million credit line at a 9.2% interest rate to support its expansion plans and refinance existing debt. The company has been actively growing its market presence in states like New Jersey, Michigan, and Oregon, with sales in New Jersey commencing in December 2023. CEO Obie Strickler highlighted the company's resilience amidst price compression in the cannabis market. Overall, Grown Rogue's financial maneuvers and operational growth reflect its strategic focus on enhancing its market position in a challenging environment.