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Craft Cannabis Co. Grown Rogue Sees 29% Revenue Increase In Q4, Expands Construction Progress In New Jersey

By Jelena Martinovic
December 19, 12:44 PM
Grown Rogue International has reported a 29% YoY increase in revenue for its fiscal Q4 2023, reaching $6.5m. The cannabis company saw a 3% sequential increase in revenue, despite a downturn in its Oregon outdoor business. The firm's CEO, Obie Strickler, said that despite sales being down from the previous quarter, Grown Rogue is on an "upward trajectory." Other Q4 financial highlights include gross profit of $4.4m and an adjusted EBITDA of $2.1m, compared to an adjusted EBITDA gain of $1.7m in the prior year's period. Grown Rogue unveiled plans to enter New Jersey's cannabis market, with construction already underway and scheduled to be completed in Q2 2024.

CSE:GDNS

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Organic Growth And Innovation Drive YoY Increase In Cannabis Producer Organigram’s Q4 Revenue And Adjusted EBITDA

By Jelena Martinovic
December 19, 12:41 PM
Canadian cannabis producer Organigram Holdings reported an 11% year-over-year increase in net revenue for the fourth quarter, reaching C$A161.6 million ($121 million). The company credited the growth to its focus on innovative products that meet consumer demand for convenience, such as pre-rolls and edibles. The increase in revenue contributed to a 71% rise in adjusted EBITDA to nearly CA$6m for the quarter, compared with the same period in 2022. Organigram's adjusted gross margin was CA$40.2m, up 20% on 2022. The company also reported a net loss of CA$248.6m, compared with CA$14.3m in 2022, due to impairments on property, plant and equipment, intangibles and goodwill. Organigram said it expects improved margins in future as efficiency gains from facility upgrades and expansion into higher-margin categories such as craft flower and vapes bear fruit.

OGI