Q4 2025 Grown Rogue International Inc Earnings Call Transcript
Key Points
- Grown Rogue International Inc (GRUSF) successfully completed the IFRS to GAAP conversion, which was a complex process but is now behind them.
- The company has focused on building a strong team, attracting external talent, and promoting internal growth, which has been beneficial for their expansion.
- Recent strategic hires in key areas such as construction, marketing, and management have strengthened the company's operations and culture.
- Grown Rogue International Inc (GRUSF) has begun construction on Phase 2 in New Jersey and expects to complete it within the year, which will increase production capacity.
- The company secured a $12 million term debt facility at a sub-8% interest rate, supporting their expansion plans in Minnesota and New Jersey.
- The conversion from IFRS to GAAP was more challenging than anticipated, causing delays and requiring significant rework.
- The company faced cyclical pricing pressures in markets like Oregon and Michigan, which have been challenging and painful.
- There was a $300,000 increase in bad debt expense due to adjustments required for US GAAP compliance, impacting G&A expenses.
- The stock price has been under pressure for the past year, reflecting market challenges and investor concerns.
- The company anticipates continued volatility in market pricing, which could impact financial performance and growth projections.
Good afternoon, ladies and gentlemen, and welcome to the Grown Rogue International, Inc. full-year 2025 results and outlook.
As a reminder, during the course of today's conference call, Grown Rogue's management may make forward-looking statements based on current expectations, estimates and assumptions. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks are described in the Risk Factors section of the company's filings and other public disclosures material.
Any forward-looking statements made on this call speak only as of today, and Grown Rogue undertakes no obligation to update or revise them in the future, except as required by law. During today's call, we will also refer to certain non-GAAP financial measures including EBITDA and adjusted EBITDA.
These measures do not have standardized meanings under GAAP and may not be comparable to similarly titled measures used by other companies. Grown Rogue believes these measures provide useful supplemental information to investors,
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