Grown Rogue International (GRIN) Company presentation summary

Operating legacy and market presence

• Ten-year track record built on quality, consistency, and culture, with roots in Southern Oregon.

• Proven ability to replicate performance and efficiencies across multiple facilities and markets.

• Operations in Oregon, Michigan, New Jersey, and Illinois, with Minnesota under development.

• Focus on durable quality control and cost efficiencies as key differentiators.

• Expansion strategy targets both new builds and turnaround opportunities in undersupplied or distressed markets.

Financial performance and growth

• Q2 2026 revenue reached $11.3M, up 41% year-over-year, with gross profit of $5.4M and gross margin of 47.6%.

• Adjusted EBITDA for Q2 2026 was $2.1M, with an 18.2% margin; net loss of $1.5M.

• Cash and cash equivalents stood at $11.5M, with net debt of $1.2M as of June 30, 2026.

• Long-term targets include 25% annual revenue growth and 35% annual profit growth (Adjusted EBITDA), with ROIIC above 75%.

• 2026 guidance: $38–$41M revenue and $7–$9M Adjusted EBITDA; 2027 guidance: $55–$63M revenue and $14–$18M Adjusted EBITDA.

Operational efficiency and cost leadership

• Maintains low-cost production, with Michigan flower cost at $277/lb and Oregon at $326/lb in Q2 2026.

• Mature facilities produce quality indoor biomass at $200–$225/lb (excluding selling costs).

• Emphasis on continuous improvement, data-driven process changes, and a disciplined, operator-led team.

• Efficiency and local execution are critical due to state-by-state regulatory fragmentation.

• Operating leverage achieved through scalable systems and disciplined cultivation practices.