Cannabis Company Grown Rogue Raises Revenue Forecast After 41% YoY Growth In Q2

Cannabis company Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) reported a 41% year-over-year increase in second-quarter revenue to $11.3 million on Tuesday.

The company released its unaudited financial results for the three and six months ended June 30, 2026, highlighting New Jersey as a key growth driver, with revenue up 65% year-over-year to $4.4 million, all from packaged products.

“From a financial standpoint, New Jersey continues to demonstrate the value of pairing quality flower with disciplined execution in a higher-priced market, and that’s with cultivation KPIs that still have room for substantial improvement,” Obie Strickler, the company’s CEO, said in a press release.

The company said mature markets remained competitive, citing Oregon and Michigan, adding that second-quarter results reflected both continued pricing volatility and recent operating improvements.

“In Oregon and Michigan, our KPIs show continued strong performance in cultivation operations, and it’s great to see modest pricing improvements rewarding our discipline in these hyper-competitive environments,” Strickler continued.

Grown Rogue also provided an update on its expansion efforts in Illinois and Minnesota.

“Cultivation is the engine of our business and quality-adjusted yield, cost discipline and sell-through are the hallmarks of what converts strong performance into durable profitability,” Strickler said. “Oregon and Michigan keep us focused on those fundamentals, while New Jersey, Illinois and Minnesota give us opportunities to apply those capabilities at different points in the market cycle.”

The company’s management said 2026 revenue guidance is raised to $38 million to $41 million, from $34 million to $37 million, as well as 2027 revenue guidance, which is projected to reach $55 million to $63 million.

Q2 2026 Financial Highlights

• Adjusted EBITDA came in at $2.1 million, compared with $1.5 million in adjusted EBITDA in the second quarter of 2025. Adjusted EBITDA margin was 18.2%, compared with 18.9% in the prior-year quarter.
• Gross profit increased 51% year-over-year to $5.4 million, while gross margin improved to 47.6% from 44.4%, over the same period.
• Net loss totaled $1.5 million, compared with $1.7 million net income in the second quarter of fiscal 2025. The decline was primarily related to roughly $0.8 million in non-cash fair-value losses from derivative and warrant instruments.
• Cash and cash equivalents totaled $11.5 million as of June 30, up from $9.6 million at June 30, 2025, providing funding for expansion projects.

GRUSF Price Action

Grown Rogue’s shares traded 6.98% higher at $0.4125 per share at the time of writing on Tuesday.