Grown Rogue Cannabis Reports Record Q2 Revenue And Adjusted EBITDA, NJ And Illinois Major Growth Drivers
Portfolio Pulse from Jelena Martinovic
Grown Rogue International Inc. reported record Q2 2024 revenue and adjusted EBITDA, driven by growth in New Jersey and Illinois. The company saw a 23% revenue increase to $7.7 million and a 21% improvement in adjusted EBITDA to $2.5 million. Despite a net loss of $7.6 million, Grown Rogue is expanding in New Jersey and Illinois, with sales expected in New Jersey by Q4 2024 and Illinois by the second half of 2025.
August 27, 2024 | 1:09 pm
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Grown Rogue International Inc. reported a 23% increase in Q2 2024 revenue and a 21% improvement in adjusted EBITDA. The company is expanding in New Jersey and Illinois, with sales expected in NJ by Q4 2024 and IL by the second half of 2025. Despite a net loss, shares rose 3.23% to $0.64.
The record revenue and EBITDA indicate strong operational performance, while the expansion into NJ and IL suggests future growth potential. Despite a net loss, the market responded positively, as evidenced by the share price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100