The Greenrose Holding Company Inc. (OTCQX:GNRS) (OTC:GNRSW) released financial and operating results for the second quarter ended June 30, 2022, revealing revenue, net of discounts increased 40% to $9.2 million compared to $6.6 million in the prior year quarter.
The increase in revenue primarily reflects incremental revenue contributions from True Harvest compared to the prior year period, which only included contributions from Theraplant. Theraplant’s second quarter revenues decreased year-over year as a result of sustained demand headwinds in Connecticut’s medical market, as well as increased competition and impacts from the state’s illicit market. True Harvest’s second quarter revenue performance continues to reflect the impacts of production disruptions resulting from the facility’s recent expansion.
