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Grown Rogue International Inc. (TSE:GRIN)
:GRIN
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Grown Rogue International
(OTC:GRIN)
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Rating:61Neutral
Price Target:
C$0.50
▼(-20.63% Downside)
Grown Rogue International's overall score is driven by strong technical momentum and operational efficiency, despite challenges with profitability and high leverage. The stock's valuation is relatively high, which may deter value-focused investors.
Grown Rogue International (GRIN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$157.24M
Dividend YieldN/A
Average Volume (3M)92.45K
Price to Earnings (P/E)36.2
Beta (1Y)0.28
Revenue Growth-9.93%
EPS GrowthN/A
CountryCA
Employees204
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)<0.01
Shares Outstanding249,581,070
10 Day Avg. Volume91,484
30 Day Avg. Volume92,446
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue5.40
Enterprise Value/Gross Profit10.85
Enterprise Value/Ebitda19.21
Forecast
1Y Price Target
$0.50Price Target Upside-21.25% Downside
Rating ConsensusHold
Number of Analyst Covering0
Grown Rogue International Business Overview & Revenue Model
Company DescriptionGrown Rogue International Inc., through its subsidiaries, engages in growing and selling cannabis products in the United States. It offers flower products, such as indicas, sativas, and hybrids; and edibles, vape cartridges, pre-rolls, or concentrates. The company sells its products through dispensaries. Grown Rogue International Inc. is headquartered in Medford, Oregon.
How the Company Makes MoneyGrown Rogue International generates revenue through several key streams, including the sale of its cannabis products across various retail channels. The company's primary revenue model relies on direct sales to dispensaries, as well as through its own branded retail outlets. GRIN also benefits from partnerships with other cannabis businesses and distributors, enhancing its market reach and product availability. Additionally, the company may capitalize on licensing agreements for its proprietary strains and products, allowing it to earn royalties. Factors contributing to its earnings include strategic marketing initiatives, product innovation, and the expansion of legal cannabis markets in North America.
Grown Rogue International Earnings Call Summary
Earnings Call Date:Aug 12, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Nov 13, 2025
Earnings Call Sentiment Positive
The earnings call reflects a company that is successfully navigating challenging market conditions with strong operational performance and strategic expansions in new markets. While there are notable challenges such as pricing pressure and a temporary reduction in cash flow, the overall sentiment is positive due to strong growth prospects and a committed team.Q1-2025 Updates
Positive Updates
Successful Launch in New Jersey
The first full quarter of sales in New Jersey showed promising results. The company is operating at 25% of its total capacity, with expectations to ramp up to full sell-through of Phase 1 by the end of Q2 or early Q3. Phase 1 production capacity is about 500 to 600 pounds a month, with Phase 2 expected to double this capacity.
Strong Operational Performance Despite Pricing Pressure
Despite a 20% decline in pricing in Oregon and Michigan, Grown Rogue maintained over 30% EBITDA margins. Yields were up, and cost of production was down in both states, showcasing strong operational performance.
Expansion and Future Growth
Plans for growth include Phase 2 expansion in New Jersey and new market entry into Illinois. Grown Rogue expects revenue to grow at a minimum of 30% a year, with profits well exceeding that, driven by new market operations.
Strong Team Commitment and Culture
The company's leadership and national directors are deeply committed, relocating temporarily to support new market expansions, which reflects a strong team culture and dedication to operational success.
Balance Sheet Strength
The company's balance sheet is reported to be stronger than a year ago, supporting its disciplined approach to growth and expansion.
Negative Updates
Pricing Pressure in Core Markets
The company faced significant pricing pressure in Oregon and Michigan, with prices declining by over 20%. This is described as an 'extinction event' that causes market distress, although it is something the company is built to withstand.
Reduction in A-flower in Michigan
A reduction in A-flower quality was noted in Michigan for Q1, which was described as a 'slump', although corrective measures were already showing positive results in April.
Operating Cash Flow Loss
The operating cash flow flipped to a loss, primarily driven by changes in non-cash working capital items such as accrual timing differences and increased prepaid expenses.
Company Guidance
In the first quarter of fiscal year 2025, Grown Rogue reported several promising operational metrics, particularly from their newly expanded operations in New Jersey. Phase 1 of their New Jersey facility is operating at approximately 50% of its total production capacity, with yields of 500 to 600 pounds per month from 8,000 to 9,000 square feet of flowering space. The company anticipates increasing this to 1,000 to 1,200 pounds per month with Phase 2, aiming for full capacity by early 2026. Grown Rogue highlighted robust operational performance despite facing a challenging pricing environment, especially in Oregon and Michigan, where pricing pressures have resulted in 20% year-over-year declines. Nonetheless, the company maintained over 30% EBITDA margins in these states due to increased yields and reduced production costs. The management expects revenue growth of at least 30% annually, with profits growing even more significantly, as they expand operations in New Jersey and Illinois. Additionally, Grown Rogue is focusing on maintaining a strong balance sheet, which is reportedly stronger than a year ago, as they prepare for further expansion.Grown Rogue International Financial Statement Overview
Summary
Grown Rogue International shows strong revenue growth and improved operational efficiency with positive operating cash flows. However, it faces challenges with profitability, high leverage, and negative net income, which impact its financial stability.Income Statement
Grown Rogue International has shown significant revenue growth from $3.9M in 2019 to $27M in 2024. The gross profit margin has improved over time, reaching nearly 50% in 2024. However, the company struggles with profitability as evidenced by negative EBIT and EBITDA margins in the TTM period, accompanied by significant net losses.65
Positive
Balance Sheet
The company's financial position is challenged by a high debt-to-equity ratio due to its substantial liabilities and relatively low equity base. The equity ratio is improving but remains a concern given past instances of negative stockholders' equity. Continuous increase in total assets indicates investment in growth, but leverage remains high.40
Negative
Cash Flow
Grown Rogue International's cash flow from operations has grown, supporting its investment activities. However, free cash flow growth is inconsistent, and the company relies heavily on financing activities. The operating cash flow to net income ratio is positive, indicating operational cash generation despite net losses.55
Neutral
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 27.02M | 21.83M | 17.76M | 9.38M | 4.24M |
| Gross Profit | 13.44M | 14.22M | 8.12M | 6.10M | 1.85M |
| EBITDA | -3.66M | 8.06M | 3.41M | 2.55M | -701.40K |
| Net Income | -11.30M | -533.04K | 447.46K | -1.01M | -3.15M |
Balance Sheet | |||||
| Total Assets | 43.32M | 30.16M | 16.37M | 14.21M | 3.76M |
| Cash, Cash Equivalents and Short-Term Investments | 4.68M | 8.86M | 1.58M | 1.11M | 217.79K |
| Total Debt | 8.39M | 6.72M | 4.91M | 4.57M | 2.66M |
| Total Liabilities | 27.41M | 17.61M | 7.43M | 7.09M | 4.71M |
| Stockholders Equity | 14.55M | 11.56M | 6.93M | 5.09M | -911.64K |
Cash Flow | |||||
| Free Cash Flow | 5.39M | 4.27M | 892.89K | -2.29M | -851.60K |
| Operating Cash Flow | 7.12M | 5.73M | 2.00M | -238.46K | -293.84K |
| Investing Cash Flow | -12.20M | -2.89M | -1.11M | -2.73M | -647.76K |
| Financing Cash Flow | 2.95M | 4.43M | -422.54K | 3.86M | 1.08M |
Grown Rogue International Technical Analysis
Positive
0.63
Price Trends
0.59
Positive
0.56
Positive
0.68
Negative
Market Momentum
<0.01
Positive
52.91
Neutral
46.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GRIN, the sentiment is Positive. The current price of 0.63 is above the 20-day moving average (MA) of 0.61, above the 50-day MA of 0.59, and below the 200-day MA of 0.68, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.91 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GRIN.
Grown Rogue International Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | 160.92M | 10.27 | 15.74% | ― | 33.04% | 191.50% | |
71 Outperform | 188.76M | 6.48 | -14.14% | ― | 27.24% | 0.00% | |
61 Neutral | $157.24M | 36.21 | 15.32% | ― | -9.93% | ― | |
54 Neutral | 425.19M | -2.07 | -100.01% | ― | -12.25% | -47.36% | |
47 Neutral | 95.98M | -1.40 | -42.41% | ― | 18.62% | 52.09% | |
44 Neutral | 182.93M | -2.25 | 74.01% | ― | 0.31% | -1.42% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
TSE:GRIN
Grown Rogue International
0.63
-0.33
-34.37%
TSE:JUSH
Jushi Holdings
0.93
0.23
32.86%
CBWTF
Auxly Cannabis Group
0.10
0.07
233.33%
PLNH
Planet 13 Holdings
0.22
-0.38
-63.33%
TSE:TSND
TerrAscend Corp
1.15
-0.53
-31.55%
LOVFF
Cannara Biotech
1.27
0.87
217.50%
Grown Rogue International Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Grown Rogue Expands Credit Facility to Boost Growth Initiatives
Positive
Sep 15, 2025
Grown Rogue International Inc. has expanded its senior credit facility by an additional US$5 million, bringing the total to US$12 million, to support growth initiatives such as expanding its New Jersey affiliate and building out its Illinois cultivation facility. This financial move aims to enhance balance sheet flexibility and enable the company to act swiftly on strategic opportunities, providing long-term value for stakeholders.
The most recent analyst rating on (TSE:GRIN) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Grown Rogue International stock, see the TSE:GRIN Stock Forecast page.
Business Operations and StrategyFinancial Disclosures
Grown Rogue’s Q2 2025 Results: Revenue Growth Amid Pricing Pressures
Neutral
Aug 12, 2025
Grown Rogue International reported its second quarter 2025 financial results, showing a 4% increase in pro forma revenue to $8.01 million and a 12% decrease in pro forma adjusted EBITDA to $1.82 million year-over-year. The company faced pricing pressures in Oregon and Michigan, impacting margins, but maintained healthy profitability in these states. New Jersey operations, through affiliate ABCO, demonstrated strong performance with $2.65 million in revenue and a 48.6% EBITDA margin. The company is focusing on cost efficiencies and flower quality to navigate market challenges and is expanding its cultivation operations in Illinois and evaluating opportunities in Minnesota.
Business Operations and StrategyFinancial Disclosures
Grown Rogue to Announce Q2 2025 Financial Results and Host Conference Call
Neutral
Jul 24, 2025
Grown Rogue International Inc. announced it will release its second quarter 2025 financial results on August 12, 2025, followed by a conference call hosted by CEO Obie Strickler and the management team. This announcement reflects the company’s commitment to transparency and engagement with stakeholders, as it continues to expand its operations and strengthen its position in the competitive cannabis market.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.