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Trulieve Reports First Quarter 2025 Results Demonstrating Core Business Strength
-First quarter revenue of $298 million, with 62% gross margin
-Cash flow from operations of $51 million and free cash flow of $34 million*
-4/20 holiday season units sold and traffic increased 20% and 9%, respectively, year over year
TALLAHASSEE, Fla., May 7, 2025 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the U.S., today announced its results for the quarter ended March 31, 2025. Results are reported in U.S. dollars and in accordance with U.S. Generally Accepted Accounting Principles unless otherwise indicated. Numbers may not sum perfectly due to rounding.
https://investors.trulieve.com/2025-05-07-Trulieve-Reports-First-Quarter-2025-Results-Demonstrating-Core-Business-Strength
Q1 2025 Financial and Operational Highlights*
-Revenue of $298 million increased slightly year over year, with 95% of revenue from retail sales.
-Achieved gross margin of 62% versus 58% last year, with GAAP gross profit of $183 million.
-Reported net loss attributable to common shareholders of $33 million. Adjusted net loss of $3 million* excludes non-recurring charges, asset impairments, disposals and discontinued operations.
-Achieved adjusted EBITDA of $109 million*, or 37% of revenue, up 3% year over year.
-Generated cash flow from operations of $51 million and free cash flow of $34 million*.
-Cash at quarter end was $329 million.
-Rewards program members reached over 625,000 members as of March 31, 2025. Loyalty members accounted for 68% of transactions during the first quarter.
-Launched Onward, a premium, non-alcoholic THC beverage available for purchase by consumers 21 years and older at select retail locations in Florida or ordered via DrinkOnward.com for direct shipment to 36 states.
-Opened six dispensaries in Maricopa, Arizona; Middleburg, North Miami Beach, and Palm Coast, Florida; and Columbus and Zanesville, Ohio. Relocated one dispensary to Lancaster, Pennsylvania.
READ MORE |
Trulieve Rewards
Trulieve Rewards is a customer rewards program offering patients and customers in participating states an easy platform to earn points on every purchase at Trulieve dispensaries. We've revamped and refreshed our old cannabis loyalty program to reward cannabis enthusiasts loyal to Trulieve with savings, perks, and points every time they shop for cannabis products JOIN NOW |
The Cannabist Company Announces Receipt of Senior Noteholder Approval of Previously Announced Plan of Arrangement
Apr. 29, 2025– The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQB: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., today provided an update in respect of the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act (the “Arrangement”) involving the Company, The Cannabist Company Holdings (Canada) Inc. (“Cannabist Canada”, and together with The Cannabist Company, the “Companies”) and 16834434 Canada Inc.
Pursuant to the Arrangement, among other things: (a) all outstanding 6.0% senior secured convertible notes due June 29, 2025 (the “2025 Notes”) and all 9.5% senior secured first-lien notes due February 3, 2026 (the “2026 Notes”) will be exchanged for an equivalent principal amount of new senior notes due December 31, 2028 (the “New Senior Notes”) co-issued by the Companies, and each holder thereof will receive its pro-rata amount of 118,209,105 newly issued common shares of The Cannabist Company (the “New CBST Common Shares”); (b) at the election of the holders of 9.0% senior secured convertible notes due March 19, 2027 (the “2027 Notes”, and together with the 2025 Notes and the 2026 Notes, the “Senior Notes”), the 2027 Notes will be exchanged for either (i) an equivalent principal amount of New Senior Notes, as well as a pro-rata amount of the New CBST Common Shares or (ii) an equivalent principal amount of new senior convertible notes due December 31, 2028 co-issued by the Companies; and (c) 118,246,947 common share purchase warrants of the Company with an exercise price of C$0.14 shall be issued to the holders of record (as of two business days prior to closing) of the issued and outstanding common shares of the Company.
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The Cannabist Company Reports First Quarter 2025 Results
May 8, 2025– The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQB: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., today reported its financial and operating results for the first quarter ended March 31, 2025. All financial information presented in this release is in U.S. GAAP, unaudited, and in thousands of U.S. dollars, unless otherwise noted.
Financial Highlights for First Quarter 2025
-First quarter revenue of $87 million, a decrease of 9% compared to Q4, in part due to the closure of 3 locations in Colorado and the sale of 1 location in California.
-Adjusted Gross Margin in the first quarter was 36%, up 45 basis points sequentially compared to Q4.
-Adjusted EBITDA in Q1 of $7.1 million; adjusted EBITDA margin increased more than 200 basis points sequentially to 9.5%.
-For the 11 markets remaining following divestiture of Florida and Washington, DC, Adjusted EBITDA Margin was 9.8% in Q1.
-Capital expenditures in the first quarter were $2.0 million; the Company continues to expect capital expenditures to average $2 to $3 million per quarter in 2025, primarily for new store openings.
-The Company ended the first quarter with $18.9 million in cash, as compared with $33.6 million at the end of Q4.
-Subsequent to quarter close, on April 17, the Company closed on the sale of its remaining MMTC license in Florida for gross proceeds of $5 million; the sale of 1 cultivation facility in Florida is pending finalization.
-Subsequent to quarter close, on April 29, holders of Senior Notes voted to approve the previously announced Arrangement to extend the maturities of senior secured notes to December 2028, with options to extend through 2029. The principal remaining step in order to advance the transaction is to obtain court approval for the transaction in Canada. Court proceedings are scheduled for later this month to consider the Company’s approval request and debtholder objections.
-Subsequent to quarter close, Company affected a corporate restructuring for an estimated $3.8 million in annualized cost savings due to adjustments to align with a simplified footprint; this is in addition to several rounds of corporate restructuring during 2024, where the Company achieved $23 million in annualized cost savings.
READ MORE | Curaleaf Reports First Quarter 2025 Results
First quarter 2025 total revenue of $310 million
First quarter 2025 International revenue of $35 million
First quarter 2025 adjusted gross margin(1) of 50%
First quarter 2025 operating cash flow from continuing operations of $42 million and free cash flow from continuing operations of $26 million
STAMFORD, Conn., May 8, 2025 — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer products in cannabis, today reported its financial and operating results for the first quarter ended March 31, 2025. All financial information is reported in accordance with U.S. generally accepted accounting principles (GAAP) and is provided in U.S. dollars, unless otherwise indicated.
Boris Jordan, Chairman and CEO of Curaleaf, stated, “First quarter revenue was $310 million, with an adjusted gross profit of $155 million, resulting in a 50% adjusted gross margin, an increase of 250 basis points compared to the prior year period. We ended Q1 with $122 million in cash, with operating and free cash flow from continuing operations of $42 million and $26 million, respectively. Additionally, we paid down $20 million in acquisition-related debt. International revenue grew by 74% year–over-year — marking the fourth consecutive quarter of 70% plus growth — and we are encouraged by prospects for new market openings that could materialize over the next year. I’m happy to report that we’ve completed much of the heavy lifting needed to reposition the business for long-term success, including streamlining operations, improving key manufacturing metrics, and sharpening our focus on flower quality. This was evident through several recent successful national product launches, including our hemp THC energy drink, Select FormulaX, our new innovation in the vape category, Select ACE, and the launch of our new pre-roll brand, Anthem. I remain positive that we’re positioning the business to remain resilient and agile in a dynamic environment.”
First Quarter 2025 Financial Highlights
-Net Revenue of $310.0 million, a year-over-year decrease of 9% compared to Q1 2024 revenue of $338.9 million. Sequentially, net revenue decreased 6% compared to Q4 2024 revenue of $331.1 million.
-Gross profit of $155.2 million and gross margin of 50%, an increase of 260 basis points year-over-year.
-Adjusted gross profit(1) of $155.4 million and adjusted gross margin(1) of 50%, an increase of 250 basis points year-over-year.
-Net loss attributable to Curaleaf Holdings, Inc. from continuing operations of $54.8 million or net loss per share from continuing operations of $0.07.
-Adjusted EBITDA(1) of $65.2 million and adjusted EBITDA margin(1) of 21%, a 180 basis point decrease year-over-year.
-Cash at quarter end totaled $121.9 million.
READ MORE |
Curaleaf International, in Partnership with Jupiter Research, Secures EU Medical Device Certification for Europe’s First Handheld Liquid Inhalation Device
May 12, 2025 – Curaleaf International, part of Curaleaf Holdings, Inc. (TSX: CURA) in collaboration with Jupiter Research LLC, a subsidiary of TILT Holdings Inc. (“TILT”) (Cboe CA: TILT) (OTCPK: TLLTF), has secured regulatory approval for the first handheld liquid inhalation device designed for precise medical cannabis administration. This EU medical device certification (Regulation (EU) 2017/745) paves the way for improved patient options and a new era of innovation in medical cannabis delivery.
The liquid inhalation device is now certified as a Class IIa medical device, meeting rigorous European regulatory standards. The device includes a magnetic snap-in cartridge and a rechargeable power supply, engineered to provide a consistent and controlled cannabinoid delivery. A comprehensive technical file and full EU Declaration of Conformity were assessed and approved by a recognised EU Notified Body, validating the device’s quality, safety, and clinical robustness.
EU certification supports deployment in multiple global markets and once commercialised, will enable healthcare professionals to recommend the device offered by Curaleaf International in countries including European countries, the UK, Canada, and regions across Australasia.
Boris Jordan, Chairman and CEO of Curaleaf, commented on this achievement:
“Achieving EU medical certification is more than a regulatory milestone—it’s a signal that medical cannabis innovation is moving into the mainstream of global healthcare. We’re proud to offer a device that meets the highest standards of safety and quality, and we look forward to supporting patients and healthcare providers across Europe and beyond with a new, accurate and discrete option for treatment.”
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Green Thumb Industries Reports First Quarter 2025 Results
May 7, 2025 – CHICAGO and VANCOUVER, British Columbia, May 07, 2025 — Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today reported its financial results for the quarter ended March 31, 2025. Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and all currency is in U.S. dollars.
Highlights for the first quarter ended March 31, 2025:
Revenue of $280 million, an increase of 1% over the prior year period.
Cash flow from operations of $74 million.
Cash at quarter end totaled $211 million.
GAAP net income of $8 million or $0.04 per basic and diluted share.
Adjusted EBITDA of $85 million or 31% of revenue.
Opened two RISE Dispensaries: one in Nevada and one in Ohio.
See definitions and reconciliation of non-GAAP measures elsewhere in this release.
Management Commentary
“The Green Thumb team delivered a respectable quarter with revenue and Adjusted EBITDA of $280 million and $85 million, respectively, and cash flow from operations of $74 million. We ended the quarter with a strong balance sheet including $211 million in cash,” said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler. “The impact of our brands continues to grow as we elevate RYTHM, Beboe and incredibles into new spaces. RYTHM has a strong market presence in the music scene, and events like RYTHM’s Bud Ball—a celebration of all the hard-working people in the cannabis industry—are driving affinity for our lifestyle brand. In April, we introduced Bud Ball to New York City for the first time, kicking off the event’s three-city summer series. RYTHM is literally and figuratively on a roll with more exciting developments coming soon. Stay tuned!”
Green Thumb President Anthony Georgiadis added, “We are off to a great start in 2025. During the first quarter, we opened two new stores, including RISE Whitehall, which serves the greater Columbus, Ohio area and further cements our presence in one of the fastest growing markets in the country. Our outstanding retail and CPG teams are hard at work preparing for the launch of adult-use sales in Minnesota, which is expected to commence before year end. While we anticipate ongoing near-term headwinds from pricing compression, increased competition and consumer softness, we are confident in our team’s ability to navigate these challenges and continue delivering strong results for shareholders.”
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Green Thumb to Open RISE Dispensary Ocala in Florida, its 104th Retail Location in the Nation, on April 29
April 28, 2025 – April 28, 2025 — RISE Dispensaries, a rapidly growing cannabis retail chain owned by Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), today announced that RISE Dispensary Ocala, the Company’s 22nd retail location in Florida and 104th nationwide, will open on April 29. Located at 3873 SW College Road, the dispensary will offer medical patients a diverse collection of cannabis products from brands including RYTHM, Dogwalkers, &Shine, Good Green, and Doctor Solomon’s. As part of RISE and Green Thumb’s ongoing commitment to supporting local communities, RISE Dispensary Ocala will donate a portion of one day’s profits to community-based organization The Bridge 4 Veterans.
“We are thrilled to open our first RISE Dispensary in Ocala, where our cultivation / production facility has already brought close to 100 jobs to the community. We are honored to create more job opportunities through the opening of RISE Dispensary Ocala while also bringing well-being to more Florida patients,” said Green Thumb President Anthony Georgiadis. “Giving back to the communities we serve is core to our mission, and we are proud to support The Bridge 4 Veterans with the opening of RISE Dispensary Ocala.”
READ MORE |
Red White & Bloom Brands Completes Transformative Restructuring, Announces Delay in Filing of Annual Financial Statements, and Granting of MCTO
TORONTO, May 01, 2025 — Red White & Bloom Brands Inc. (CSE: RWB) (“RWB” or the “Company”) today announced the successful completion of a series of transactions designed to significantly reduce potential shareholder dilution, lower debt carrying costs, continue to refocus operations on profitable growth initiatives, and facilitate the filing of its financial statements through the filing of a Management Cease Trade Order (“MCTO”).
Successful Completion of Debt Restructuring
The Company’s Board of Directors and Executive Management, in collaboration with a majority of its strategic lenders, successfully completed a comprehensive restructuring of approximately C$145 million of issued and outstanding debt, as part of a larger debt renewal program, through the entering into of various debenture and note amending agreements with such lenders with all applicable amended terms effective as of the respective renewal dates.
The restructuring of the aforementioned debt accomplished the following:
Eliminated the potential dilution of 198 million common shares1, representing 42.1% of the issued and outstanding common shares, through the removal of debenture conversion rights.
Extended maturity dates for restructured debt to November 2026 (C$33 million) with the balance of the restructured debt ($112 million) extended through to September 2027.
Deferred all cash interest and principal payments for the restructured debt until their new respective maturity dates.
Achieved principal reductions of $5 million and annualized interest expense savings of $2.5 million associated with the restructured debt.
Full financial statement disclosure regarding the debt renewal and applicable restructuring will be included in the Company’s interim financial statements for the first quarter ending March 31, 2025, expected to be filed on or before May 30, 2025, as of the date of this release.
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FLUENT Debuts “New York Minute” – A Bold, Exclusive Flavor for MOODS Vaporizers
NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) — FLUENT Corp. (CSE: FNT.U) (OTCQB: CNTMF) (“FLUENT” or the “Company”), a national cannabis company operating under the FLUENT™ brand, is unveiling New York Minute, a bold new addition to its MOODS vaporizer portfolio. Flavored with Apple Apricot Tsunami botanical terpenes, this sativa-leaning cannabis oil is designed specifically for adult-use consumers in New York, embodying the fast-paced and vibrant spirit of the state with a Big Apple taste.
The new offering will be available in two convenient All-in-One device formats: a 1g Mini and a 0.5g Dash, catering to consumers who seek portability, performance and taste. FLUENT’s latest product will be available at all FLUENT New York retail locations and at third party retail locations through Entourage Wholesale, with broad access across the state.
“New York sets the tone for culture, innovation, and lifestyle—and we wanted to create a vape product that connects with that essence,” said Robert Beasley, CEO of FLUENT. “New York Minute is more than just a flavor; it’s an experience. With its vibrant apple and apricot terpene blend, it delivers a bold, flavorful moment that matches the energy of the city that never sleeps.”
READ MORE |
Fluent: Introducing Entourage: A B2B Wholesale Platform Serving the New York Cannabis Market
Offering a Curated Portfolio of Brands Including MOODS, MOODS Black, and KNACK
NEW YORK, May 12, 2025 — FLUENT Corp. (CSE: FNT.U) (OTCQB: CNTMF) (“FLUENT” or the “Company”), announces Entourage, a new wholesale cannabis platform serving licensed retailers across New York, officially launching with a curated portfolio of trusted and emerging brands. Developed in association with FLUENT, Entourage is committed to offering competitive pricing, retailer-first support, and a streamlined ordering experience in one of the nation’s most dynamic cannabis markets.
Entourage will debut at the Revelry event in Hudson, NY on May 14, where the team will present its lineup of brands and connect directly with dispensary operators and industry stakeholders. The event also marks the launch of “New York Minute,” an exclusive new flavor in the MOODS vape line, inspired by the fast-paced energy and personality of the Empire State.
Available immediately through Entourage:
MOODS vape portfolio, featuring both botanical and native terpene formulations.
KNACK, a premium whole flower brand known for top-tier genetics, hand-trimmed buds, and consistent quality.
At the forefront of Entourage’s expansion, Daniel Krug emphasizes the company’s dedication to supporting New York’s fast-growing cannabis market: “Entourage is committed to providing top-tier wholesale services and reliable product lines. With innovative brands like MOODS and KNACK, competitive pricing, and consistent fulfillment, we’re empowering dispensaries to thrive in an evolving landscape.”
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Verano Announces First Quarter 2025 Financial Results
CHICAGO, May 08, 2025 — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced its financial results for the first quarter ended March 31, 2025, which were prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”).
First Quarter 2025 Financial Highlights
Revenues, net of discounts, of $210 million, a decrease of 5% year-over-year, and a decrease of 4% versus the prior quarter.
Gross profit of $100 million or 47% of revenue.
SG&A expenses of $85 million or 40% of revenue.
Net Loss of $(12) million or (5)% of revenue.
Adjusted EBITDA1 of $54 million or 26% of revenue.
Net cash provided by operating activities of $2 million.
Capital expenditures of $14 million.
Management Commentary:
“I am very pleased with the progress we made during the first quarter executing our strategic priorities leveraging innovation, automation and differentiation, while driving efficiencies across the business,” said George Archos, Verano founder, chairman and Chief Executive Officer. “Throughout the first quarter, we strengthened our core business by optimizing our footprint, implementing cutting-edge automation technology – which increased productivity and reduced costs by streamlining operations – and generated savings while still expanding our product portfolio and retail footprint, which is a testament to our team’s operational excellence.”
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iAnthus Reports First Quarter 2025 Financial Results
May 12, 2025 — iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCQB: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today reported its financial results for the first quarter ended March 31, 2025. The Company’s Quarterly Report on Form 10-Q (the “Quarterly Report”), which includes its unaudited interim condensed consolidated financial statements for the first quarter ended March 31, 2025 and the related management’s discussion and analysis of financial condition and results of operations, can be accessed on the Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov, on the System for Electronic Document Analysis and Retrieval’s (SEDAR+) website at www.sedarplus.com, and on the Company’s website at www.iAnthus.com. The Company’s financial statements are reported in accordance with U.S. generally accepted accounting principles (“GAAP”). All currency is expressed in U.S. dollars.
First Quarter 2025 Financial Highlights
-Revenue of $38.1 million, a decrease of $4.6 million from Q4 2024 and a decrease of $3.4 million from the same quarter in the prior year.
-Gross profit of $18.9 million, a decrease of $0.3 million from Q4 2024 and an increase $1.7 million from the same quarter in the prior year.
-Gross margin of 50%, reflecting an increase of 472 bps when compared to Q4 2024 and an increase of 814 bps from the same quarter in the prior year.
-Net income of $5.1 million, or a net income of less than $0.00 per share, compared to a net income of $27.8 million, or a net income of less than $0.00 per share in Q4 2024, and compared to a net loss of $14.0 million, or a net loss of $0.00 per share, in the same quarter in the prior year.
-Adjusted EBITDA(1) of $3.2 million, a decrease from an Adjusted EBITDA of $6.4 million in Q4 2024, and remains consistent from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures.
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Planet 13 Opens 33rd Florida Dispensary in Edgewater, Just South of Daytona Beach
April 30, 2025 — Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated multi-state cannabis company, today announced the grand opening of Planet 13 Edgewater on May 31, 2025, the Company’s 33rd dispensary in Florida and 37th nationwide. Located at 1308 S Ridgewood Ave, Edgewater, FL, the 3,000-square-foot facility will serve the growing medical cannabis community in East Central Florida and will be open Monday through Sunday from 9 a.m. to 7 p.m.
“We’re proud to bring the Planet 13 experience to Edgewater as we continue our growth across Florida,” said Bob Groesbeck, Co-CEO of Planet 13. “Situated on U.S. Highway 1, a major retail corridor, this location offers excellent accessibility for patients. As we expand, our focus remains on providing high-quality cannabis products and a best-in-class retail experience for the medical cannabis community across Volusia County and the surrounding metropolitan areas.”
READ MORE |
Earnings releases for Q1: 25 commence next week, and we wanted to check in to see what analysts are thinking prior to any last-minute company attempts to guide their estimates.
The table shows actual revenue and EBITDA for Q1:24A, Q4:24A, and consensus analyst estimates for Q1:25 for twelve major MSOs. Sequential quarter and Y/O/Y percentage changes are calculated based on Q1:25 estimates. |
Analysts expect eleven of the twelve companies to have lower y/o/y EBITDA for the quarter, with Marimed as the only gainer. Glass House is another outlier with an EBITDA increasing from $-1.6M in Q1:24 to $1.6M in Q1:25. GH is not on the chart as the percentage change from negative to positive is not well defined.
Analysts project an aggregate decline for the group of 15.2%, a significant steepening of the 5.0% y/o/y decline experienced in Q4:24.
Seven companies, including Ascend, Cannabist, Cresco, Curaleaf, GTI, Trulieve, and Vireo, are expected to have larger y/o/y % EBITDA declines in Q1 than Q4. Four companies, AYR, Jushi, TerrAscemd, and Verano, are projected to have smaller y/o/y% EBITDA declines in Q1 versus gains in Q4. Five companies, including AYR, TerrAscend, Jushi, Verano, and Curaleaf, are expected to have lower percentage declines in Q1 vs Q4.
The chart below decomposes the Y/O/Y percent change in EBITDA into the component that is due to the projected change in EBITDA margins (green bars) and the part that is attributable to projected revenue changes (yellow bars). The red line depicts the total projected Y/O/Y projected change in EBITDA. |
As in Q4, the predominant cause for EBITDA declines is lower EBITDA margins as opposed to lower revenues. Of the 15.2% EBITDA decline for the group, 9.9% was attributable to lower projected EBITDA margins (24.0% in Q1:25 vs 26.7% in Q1:24), while 5.3% was attributable to lower revenues ($433M vs $510M).
The most significant drags on margins include pricing declines in Florida, New Jersey, and Massachusetts. At the same time, Ohio, the only new rec state over the period, has produced less of a boost than expected. The growth outlook looks weak until 2026, when PA and VA may make meaningful contributions.
Fundamentals are challenging, and stock price growth is hostage to reforms in Washington, and it’s too soon to bet on any of the recently introduced bills or suggestions of Trump support.
Investors should refrain from the temptation to jump on each new speculative rally and make sure their portfolios can withstand more of the same challenges faced in the last year. Overall, economic weakening and a pressured consumer are factors that look to get worse before they get better.
View This Week's Viridian Chart of the Week For More Analysis
About Viridian Capital Advisors
Since launching in 2014, Viridian Capital Advisors has become one of the most respected and experienced advisory and M&A firms specializing in the cannabis industry. We provide a wide range of services, including: Strategic Advisory Consulting: Including valuation, financial modeling, restructuring and fairness opinions.
Mergers & Acquisitions: Transaction advisory and execution. Capital Raises: Including debt and equity. Many of our assignments begin with a basic question: "What should I do now?" Raise capital to expand? What kind of capital is most appropriate?
Acquire another company? What are the advantages and pitfalls?
Sell my company? What valuations can i achieve? What transaction structures are possible?
Put our experience, data and depth of senior talent behind your next transaction.
Contact
Scott Greiper
CEO
Viridian Capital Advisors, LLC
646.330.0704
sgreiper@viridianca.com
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914.523.4730
fcolombo@viridianca.com
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NATIONAL AND INTERNATIONAL NEWS |
Springbig Expands Executive Team with Strategic Hires to Drive Next Phase of Growth
May 08, 2025 — Springbig (OTCQB: SBIG), a leading provider of marketing automation software and customer loyalty solutions, is excited to announce the addition of three seasoned executives to its leadership team. These strategic hires reflect the company’s commitment to continued growth, innovation, and operational excellence as it scales its SaaS platform and services across North America.
Springbig also recently announced that Jaret Christopher has joined the company as its new CEO & President and has been appointed to its Board of Directors. Jaret is a highly accomplished technology entrepreneur with over 25 years of experience building high-growth vertical SaaS companies. He has led multiple successful exits, including transactions to WM Technology, Ellie Mae (acquired by Thoma Bravo), and DBusiness, a data and lead-gen platform backed by Wasserstein Perella & Co. and Tribune Ventures. His deep expertise in SaaS, AI, CRM, MarTech, and Analytics makes him a major addition to the leadership team. A proven and visionary executive, Jaret’s track record of scaling software businesses and delivering innovation in regulated and complex industries significantly strengthens Springbig’s position for future growth.
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TerrAscend Closes on Ohio Dispensary Acquisition
Transaction marks the Company’s entry into its sixth U.S. state
Acquisition is expected to be immediately accretive on an EBITDA and cashflow basis
TORONTO, May 07, 2025 — TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, today announced the closing of its previously announced acquisition of the assets of Ratio Cannabis LLC (“Ratio Cannabis”), a cannabis dispensary located in Goshen Township, Ohio. The acquisition represents TerrAscend’s initial entry into its sixth state, Ohio, and is expected to be immediately accretive on an EBITDA and cashflow basis. This acquisition increases TerrAscend’s retail footprint to 39 dispensaries across six U.S. states and Canada. The Company intends to acquire additional Ohio dispensaries in the future.
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Optimi Health Obtains U.S. FDA Drug Establishment Registration
The Company is now recognized by the U.S. FDA to support the cross-border supply of GMP MDMA and psilocybin to authorized entities in the United States.
Vancouver, British Columbia – May 5, 2025 – Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a manufacturer of GMP-certified MDMA and psilocybin, has received its U.S. FDA Establishment Identifier (FEI) number—a key regulatory step for engaging in FDA filings and compliant supply into the United States.
According to the U.S. Food and Drug Administration’s Drug Establishments Current Registration Site (DECRS), “The publication is a list of currently registered establishments which manufacture, prepare, propagate, compound, or process drugs that are distributed in the U.S. or offered for import to the U.S.” Optimi is now publicly listed among these registered drug production facilities.
*Link: https://dps.fda.gov/decrs/searchresult?type=optimi
With this designation, Optimi is formally recognized within the U.S. FDA system for the manufacture of pharmaceutical-grade MDMA and psilocybin, including both active ingredients and finished drug products. Supported by its Health Canada Drug Establishment Licence (DEL), the Company is positioned to supply these substances to authorized parties through controlled, cross-border channels between Canada and the United States.
READ MORE | TerrAscend Signs Agreement to Acquire Fourth Dispensary in New Jersey
Union Chill, a single dispensary operator in Hunterdon County, is generating over $11 million in annualized revenue
Acquisition further solidifies TerrAscend’s leadership position in the state
TORONTO, May 06, 2025 — TerrAscend Corp. (the “Company”) (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, today announced it has signed an agreement where its consolidated entities (“TerrAscend”) will operate its fourth dispensary in New Jersey. Union Chill Cannabis Company LLC (“Union Chill”), a high-performing, single dispensary operator in Hunterdon County, is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis and further solidifies the Company’s leadership position in the state. The closing remains subject to regulatory approval.
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TerrAscend Reports First Quarter 2025 Financial Results
Net Revenue of $71 million
Gross Profit Margin of 51.8%, up 160 basis points from 50.2% in the fourth quarter of 2024
Net Cash provided by operations of $8.0 million and Free Cash Flow¹ of $5.5 million
11th consecutive quarter of positive Cash Flow from operations and 7th consecutive quarter of positive Free Cash Flow¹
Subsequent to quarter end, closed on acquisition of a dispensary in Ohio and signed definitive agreement to acquire a dispensary in New Jersey
TORONTO, May 08, 2025 — TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, today reported its financial results for the first quarter ended March 31, 2025. All amounts are expressed in U.S. dollars and are prepared under U.S. Generally Accepted Accounting Principles (GAAP), unless indicated otherwise.
TerrAscend Reports First Quarter 2025 Financial Results :: TerrAscend Corp. (TSND)
First Quarter 2025 Financial Highlights
Net Revenue was $71.0 million, compared to $74.4 million in Q4 2024, reflecting a 4.5% seasonal decline.
Gross Profit Margin was 51.8%, up 160 basis points compared to 50.2% in Q4 2024.
GAAP Net Loss was $12.3 million, compared to a net loss of $30.2 million in Q4 2024.
EBITDA¹ was $12.4 million, compared to an EBITDA loss of $30.6 million in Q4 2024.
Adjusted EBITDA¹ was $15.3 million, compared to $15.1 million in Q4 2024.
Adjusted EBITDA Margin¹ was 21.6%, compared to 20.3% in Q4 2024.
Net Cash Provided by Operating Activities was $8.0 million, compared to $9.7 million in Q4 2024.
Free Cash Flow¹ was $5.5 million, compared to $5.0 million in Q4 2024.
READ MORE | BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS
OVER 914,000
AND 719 DISPENSING LOCATIONS |
LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MAY 9, 2025 Report BY THE NUMBERS
Qualified Patients: (Active ID Card) MAY 09 2025- 914,180
MAY 02 2025- 913,159
APR 25 2025- 911,857
APR 18 2025- 911,401
APR 11 2025- 909,711
APR 04 2025- 907,575
MAR 28 2025- 905,556
MAR 21 2025- 905,006
Patients Last Week: 1,021
Qualified Ordering Physicians: 2,391 New Doctors Last Week: 0
Reporting Period: MAY 2 - MAY 8 2025
Amount of Medical Marijuana Dispensed - (mgs THC) 364,774,847
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 25,935
Amount of Marijuana in a From for Smoking (oz) 135,217.757
Approved Dispensing Locations: 719
Added Last Week: 0 |
UPCOMING MEETING AND CONFERENCES |
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