Grown Rogue Reports First Quarter 2022 Results, aEBITDA of $1.0M

Grown Rogue Reports First Quarter 2022 Results, aEBITDA of .0M
CANNANNEW REPORT

 Revenue of $3.73M compared to $1.05M in Q1 2021, an increase of 255% Gross profit, before fair value adjustments, of $2.03M compared to $0.50M in Q1 2021, an increase of 310% aEBITDA1 of $1.00M and aEBITDA1 margin of 26.9% compared to aEBITDA1 of $0.05M and aEBITDA1 margin of 4.8% in Q1 2021 Segmented aEBITDA1 (excluding corporate costs) of $1.43M and segmented aEBITDA1 margin of 38.3% Average selling price of indoor whole flower (excluding trim) of $1,062 per pound MEDFORD, Ore.–(BUSINESS WIRE)–Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE: GRIN) (OTC: GRUSF), a multi-state cannabis company with operations and assets in Oregon and Michigan, reports fiscal first quarter 2022 results for the three months ended January 31, 2022. All financial information is provided in U.S. dollars unless otherwise indicated. First Quarter 2022 Financial Summary Ninth consecutive quarter of positive aEBITDA1, including pro-forma2 results Third consecutive quarter of positive operating cash flow, before changes in working capital Third consecutive quarter of positive net income #1 indoor flower wholesaler in Oregon, according to LeafLink’s MarketSpace data Named fastest growing brand in Oregon during January, according to LeafLink; the third time in five months Net assets (excluding intangibles and goodwill) of $8.23M compared to $1.5M in net liabilities in Q1 2021 Closed a non-brokered private placement for gross proceeds of $1.30M which included an investment from Bengal Capital, a venture capital firm with significant cannabis expertise, and the Company’s CEO Subsequent to quarter end, Grown Rogue launched nitrogen sealed pre-rolls in Michigan “Grown Rogue had a very strong quarter considering Q1 is typically the weakest quarter of our fiscal year”, said Obie Strickler, CEO of Grown Rogue. “Michigan was particularly strong with revenue up 10% quarter over quarter and Michigan state sales down 3% leading to large market share gains during the…

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Source : Grown Rogue Reports First Quarter 2022 Results, aEBITDA of .0M

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