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Grown Rogue International Inc. GRUSF GRIN released its unaudited fiscal fourth quarter 2022 results for the three months ended October 31, 2022, revealing revenue of $5.07 million compared to $3.76 million in Q4 2021, an increase of 35%.
Q4 2022 Financial Highlights
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Adjusted EBITDA of $1.66 million compared to $1.2 million in Q4 2021, an increase of 39%.
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Gross profit was $1.64 million
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Positive free cash flow for Q4 2022 and fiscal 2022
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Subsequent to quarter-end, closed a $2.0 million convertible debenture financing
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Net loss after taxes was $451,630
“I couldn’t be more thrilled about our record revenue and adjusted EBITDA, closing out a record year including achieving positive free cash flow for the year,” stated Obie Strickler, CEO of Grown Rogue. “It’s even more exciting to watch our team continue to increase market share in Oregon and Michigan by staying true to our focus towards ensuring customers experience leading craft quality and genetics at an attractive value. Our business continues to show scale, with revenue up 35% year over year and aEBITDA up 39%, despite pricing headwinds in our markets, particularly in Michigan”, continued Strickler.
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Photo by Mackenzie Marco on Unsplash
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