Grown Rogue International Inc. (CSE: GRIN; OTC: GRUSF) reported unaudited financial results for the three and nine months ended September 30, 2026. The company announced revenue of $11.0 million for the third quarter of 2026, an increase of 29% compared to the same period in the prior year. This growth was driven by a 44% increase in revenue in New Jersey, a 21% increase in Oregon, and a 19% increase in Michigan.
For the quarter, the company reported an Adjusted EBITDA of $2.6 million, representing a margin of 23.3%. However, GAAP net loss for the period was $8.9 million, compared to net income of $1.6 million in the prior year. This loss included a $5.0 million loss on the acquisition of Rogue EBC, LLC.
Grown Rogue maintained its financial guidance for 2026, projecting revenue between $38 million and $41 million and Adjusted EBITDA between $7 million and $9 million. The company also reiterated its 2027 guidance, forecasting revenue of $55 million to $63 million and Adjusted EBITDA of $14 million to $18 million. These expectations currently exclude New York.
As of September 30, 2026, the company held cash and cash equivalents of $16.6 million. The company noted that this balance increased from $11.5 million at the end of the second quarter of 2026, largely due to the consolidation of its subsidiary Grown Rogue New York, LLC, offset by planned capital expenditures in New Jersey and Minnesota.
Operational highlights include the commencement of cultivation at the Fridley, Minnesota facility, with the first harvest scheduled for late November. Additionally, the company’s affiliate SEA Craft completed its first flower sales in Illinois in October, and work has begun to revitalize cultivation in Hamptonburgh, New York, with the first harvest anticipated in December.
