Water Tower Hour Recap
Grown Rogue CEO Obie Strickler recently joined us on The Water Tower Hour to discuss how the company is successfully growing low-cost craft cannabis at scale. Grown Rogue does this while maintaining a healthy balance sheet with consistent revenue growth. Those interested can listen to the episode on Apple Podcasts, Spotify, and Google Podcasts. It is also available on our website. Links accessible in our full report. Grown Rogue operates in historically difficult markets, including Oregon and Michigan. Strickler explained how by building the business in more competitive states, it learned to manage costs and maintain margins in lower-price environments. We dove into the flower-growing process and Strickler covered the importance of genetics, cultivation method, and drying and curing. Consistent quality requires nailing all stages of the growing process. The company is expanding into New Jersey, which should further boost revenue and enhance margins. Grown Rogue is making retail investments and building cultivation. The first harvest is expected in 3Q24, with additional expansion slated for 1Q25. Grown Rogue has a strategic advisory agreement with Goodness Growth. Strickler highlighted how the company is working together in Minnesota and Maryland to optimize cultivation efforts. The deal offers an asset-light means of enhancing revenue in new markets. He believes Minnesota is the most exciting adult-use market in the US. The conversation concluded by talking about potential risks with the business and how investors can monitor them. Grown Rogue has ambitious expansion plans and Strickler suggested execution will be the critical risk to manage.
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