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ADULT USE ON THE BALLOT IN NOVEMBER HOW WILL THIS AFFECT YOUR PRACTICE AND PATIENTS? THE HEMP BILL: WHAT'S NEW QUESTIONS FROM PHYSICIANS
UPDATE ON RFE'S HOW TO BEST ANSWER YOUR PATIENT QUESTIONS
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NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF
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TRULIEVE REPORTS FIRST QUARTER 2024 RESULTS DEMONSTRATING CORE BUSINESS STRENGTH AND CASH GENERATION
First quarter performance of $298 million in revenue, up 4% sequentially, and 58% gross margin
Strong cash flow from operations of $139 million and free cash flow of $124 million* in Q1 2024
Definitive progress made on Smart and Safe Florida adult use initiative and federal rescheduling of cannabis to Schedule III
Trulieve Reports First Quarter 2024 Results Demonstrating Core Business Strength and Cash Generation – May 9, 2024
TALLAHASSEE, Fla., May 9, 2024 — 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, 2024. 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.
Q1 2024 Financial and Operational Highlights*
Revenue of $298 million increased 4% sequentially and year over year, with 96% of revenue from retail sales. Strong first quarter sales were driven by higher retail traffic and average basket size.
Achieved GAAP gross margin of 58%, with gross profit of $174 million.
Reported net loss of $23 million, an improvement of 31% sequentially and 64% year over year. Adjusted net loss of $10 million* excludes non-recurring charges, asset impairments, disposals and discontinued operations.
Achieved EBITDA of $85 million*, or 29% of revenue and adjusted EBITDA of $106 million*, or 36% of revenue, up 21% sequentially and 35% year over year.
Generated cash flow from operations of $139 million and free cash flow of $124 million*.
Cash at quarter end was $327 million, inclusive of $50 million in tax refunds, from amended returns, related to our tax challenge of 280E received during the first quarter.
Opened three new dispensaries in Cocoa Beach, Palm Bay, and Pinellas Park, Florida.
Ended the quarter with 31% of retail locations outside of the state of Florida.
*See “Non-GAAP Financial Measures” below for additional information and a reconciliation to GAAP for all Non-GAAP metrics.
Recent Developments
Smart & Safe Florida initiative for adult use will be included on the ballot for the November 2024 election. If passed by voters, sales are anticipated to begin in May 2025.
Department of Justice confirmed progress on federal rescheduling of cannabis to Schedule III, which would allow research and remove 280E tax burden.
Opened one retail location in North Palm Beach, FL.
Currently operate 196 retail dispensaries and over 4 million square feet of cultivation and processing capacity in the United States.
Management Commentary
“With strong performance in our core business and several meaningful catalysts on the horizon, the outlook has never been brighter,” said Kim Rivers, Trulieve CEO. “The team has done a phenomenal job carrying forward the momentum from last year, driving further improvements in production and retail. Given our financial performance and significant scale in key markets, Trulieve is best positioned for the coming wave of growth catalysts.”
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TRULIEVE TO OPEN MEDICAL CANNABIS DISPENSARY IN STUART, FLORIDA
New Martin County location will host grand opening celebration Friday, May 17th
TALLAHASSEE, Fla., May 10, 2024 – Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the U.S., today announced the opening of a new medical cannabis dispensary in Stuart, Florida.
A grand opening celebration will be held Friday, May 17, beginning at 9 a.m., featuring music, specials, discounts, and opportunities to register for upcoming patient education sessions.
“This new dispensary expands access to medical cannabis in Martin County and along Florida’s Treasure Coast,” said Trulieve’s Chief Executive Officer Kim Rivers. “We are proud to serve patients with Trulieve branded products through elevated customer experiences.”
Trulieve Stuart Kanner, located at 6600 South Kanner Highway, will be open 9 a.m. – 8:30 p.m. Monday through Saturday and 11 a.m. – 8 p.m. on Sundays, offering walk-in and express pickup service.
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THE CANNABIST COMPANY REPORTS FIRST QUARTER 2024 RESULTS
The Cannabist Company Reports First Quarter 2024 Results | The Cannabist Company (columbia.care)
NEW YORK–May 9, 2024– The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the largest and 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, 2024. All financial information presented in this release is in U.S. GAAP and in thousands of U.S. dollars, unless otherwise noted.
He continued, “We have demonstrated early successes in better utilizing our footprint and existing cultivation and manufacturing facilities, evidenced by a decrease in the overhang on gross margin in the quarter. We are transforming the wholesale business, including shifting the wholesale mix toward finished goods and building strategic brand partnerships that are helping to recapture margin across the portfolio. As we look ahead, we are preparing for the upcoming adult use transition in Ohio and are continuing to capitalize on growth opportunities in markets like Virginia and New Jersey. Though we are encouraged by the results of the first quarter, we know there is more work to do. We look forward to enacting additional changes to the business so that we end 2024 having a materially improved financial position and are poised to compete more effectively.
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VERANO ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS
Generated $221 Million in Revenue, Exceeding Guidance
Increased Gross Profit Margin by Nearly 300 Basis Points Year Over Year
CHICAGO, May 08, 2024 — 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, 2024, which were prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”).
Verano Holdings – Verano Announces First Quarter 2024 Financial Results
First Quarter 2024 Financial Highlights
Revenue of $221 million, a decrease of 3% year-over-year, and a decrease of 7% versus the prior quarter, exceeding Company guidance.
Gross profit of $113 million or 51% of revenue.
SG&A expense of $90 million or 41% of revenue.
Net loss of $(5) million or (2)% of revenue.
Adjusted EBITDA1 of $67 million or 30% of revenue.
Net cash provided by operating activities of $31 million.
Free Cash Flow2 of $21 million.
Capital expenditures of $10 million.
Management Commentary
“I am tremendously proud of the strong foundation we’ve built in the first quarter, which positions Verano to capitalize on what may be one of the most transformative years for legal cannabis in our nation’s history,” said George Archos, Verano founder and Chief Executive Officer. “While we’ve never built our business based on legislative assumptions, we have tremendous upside across all of our markets to take advantage of the massive potential catalysts that lie ahead in 2024. With adult use imminent in Ohio, confirmed on the November ballot in Florida, and on the horizon in Pennsylvania, we have significant opportunities in these core Verano markets where we currently operate nearly 100 retail dispensaries alone. If fully approved, layering on DEA rescheduling would have also enabled us to save an estimated $80 million in tax payments in 2023, allowing us to reinvest back into the business, and take swift action towards listing on a U.S. exchange if permitted.”
Archos concluded: “With the growing strength of our wholesale business in key markets, disruptive innovation demonstrated by our launch of the nation’s first dispensary membership model in Cabbage Club, state and federal catalysts on the horizon, and our team’s proven operational experience and agility converting medical to adult use markets throughout our history, I remain confident and excited in what Verano can achieve in 2024 and beyond.”
READ MORE |
VERANO ACCELERATES RETAIL EXPANSION IN CENTRAL FLORIDA WITH THE OPENING OF MÜV HAINES CITY, THE COMPANY’S 75TH LOCATION IN FLORIDA AND 140TH RETAIL LOCATION IN THE NATION
Located at 127 U.S. Highway 17 92 W, MÜV Haines City bolsters the Company’s retail presence in Polk County, a region with more than 800,000 residents1
MÜV Haines City, the community’s first medical cannabis dispensary, complements nearby MÜV locations in Auburndale, Lakeland and Winter Haven
Verano’s active operations span 13 states, comprised of 140 dispensaries and 14 cultivation and processing facilities, with more than 1 million square feet of cultivation capacity
Verano is an active supporter of the Smart and Safe Florida campaign, a multi-stakeholder effort advocating for the passage of the Amendment 3 ballot initiative to legalize adult use cannabis in the Sunshine State
CHICAGO, May 09, 2024 — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of MÜV Haines City on Friday, May 10, the Company’s 75th Florida dispensary and 140th retail location nationwide. MÜV Haines City, located at 127 U.S. Highway 17 92 W, will be open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 11 a.m. to 5 p.m., local time.
Situated in Polk County, which counts more than 800,000 residents1, MÜV Haines City enhances the Company’s footprint in central Florida, accompanying MÜV dispensaries in Auburndale, Lakeland and Winter Haven.
READ MORE |
Interview with Stephen M Reilly Co-Owner and Head of Government Relations for Insa Cannabis regarding the rescheduling of Cannabis from I to III
CLICK HERE |
IANTHUS REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS
NEW YORK and TORONTO, May 14, 2024 – 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, 2024. The Company’s Quarterly Report on Form 10-Q (the “Quarterly Report”), which includes its unaudited interim condensed consolidated financial statements for the three months ended March 31, 2024 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.
iAnthus Reports First Quarter 2024 Financial Results (prnewswire.com
First Quarter 2024 Financial Highlights
Revenue of $41.6 million, a sequential increase of 1.7% from Q4 2023 and an increase of 13.1% from the same quarter in the prior year.
Gross profit of $17.2 million, a sequential increase of 8.1% from Q4 2023 and an increase of 10.9% from the same quarter in the prior year.
Gross margin of 41.4%, reflecting a sequential increase of 244bps when compared to Q4 2023 and a decrease of 82bps from the same quarter in the prior year.
Net loss of $14.0 million, or a net loss of less than $0.01 per share, compared to a net loss of $18.7 million, or a net loss of less than $0.01 per share in Q4 2023, and compared to a net loss of $18.6 million, or a net loss of $0.01 per share, in the same quarter in the prior year.
Adjusted EBITDA(1) of $3.2 million, a sequential increase from an Adjusted EBITDA of $2.8 million in Q4 2023, and an increase from an Adjusted EBITDA of $0.9 million from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below.
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May 10, 2024 – This week’s Viridian Valuation Tracker focuses on the seven U.S. MSOs with over $500M market cap. Experience tells us that these companies are likely to be the first to benefit from new money entering the market as they are better known and perceived to be safer with better stock liquidity.
The group trades at media EV/2024 Revenues of 2.38x, up from 1.93x on 9/1/23, the first Friday after the HHS news hit. Similarly, the group now trades at median EV/2024 EBITDA of 10.11x, compared to 7.31x on 9/1/23.
The bottom line is that valuations are up significantly on multiple bases but not nearly as much as we thought they would be with an actual DEA agreement to S3. We believe that the chief two causes are a realization that this could take quite a while to actually work its way through the system and a deep sense of wariness from investors who have been fooled too many times. Other possibilities include worries that it won’t get done in time to avoid being reversed by a new administration and concerns about how it will actually dovetail with existing state programs.
Nonetheless, it’s hard to imagine a time when so many shots on goal are available, and valuations have not reflected it. We also note that the first earnings reports are in, and as we expected, generally better than analysts’ expectations. We will review the upcoming revisions for next week’s tracker report. READ MORE |
NATIONAL AND INTERNATIONAL NEWS |
VILLAGE FARMS INTERNATIONAL APPOINTS FINANCE AND OPERATIONS VETERAN CAROLYN HAUGER TO BOARD
VANCOUVER, British Columbia and ORLANDO, Fla., May 13, 2024 — Village Farms International, Inc. (“Village Farms” or “the Company”) (NASDAQ: VFF) is delighted to announce that Carolyn Hauger has been appointed to its Board of Directors, effective immediately, and will stand for election at the Company’s annual shareholders meeting in June 2024. Ms. Hauger has extensive finance, operations and public company director experience having served as CFO for a variety of companies, where among many responsibilities she contributed to operational optimization, innovation strategies and early-stage development. Her experience includes both multi-national and emerging growth industries.
“Ms. Hauger brings to Village Farms an exceptional 35-plus year track record of leadership in both senior executive and director roles,” said John McLernon, Chairman of the Board of Village Farms. “With broad-based expertise in financial strategy and business building, alongside decades of consumer-packaged goods, international and start up experience, her insight and perspective will be of tremendous benefit to Village Farms.”
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RUBICON ORGANIC LAUNCHES 1964 SUPPLY CO.™ FULL SPECTRUM EXTRACTS (FSE) VAPES
VANCOUVER, British Columbia, May 13, 2024 — Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics”, “Rubicon”, or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, is thrilled to unveil its latest innovation – the 1964 Supply Co.™ Full Spectrum Extracts (FSE) Resin 510 Vapes.
The 1964 Supply Co.™ portfolio extension represents a strategic move by Rubicon Organic to tap into the fast-growing Canadian cannabis category, vapes. Our premium vapes are designed with a clear mission: to attract legacy consumers into the legal market by offering superior products that deliver an experience reminiscent of their favorite legacy market offerings.
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CRYOMASS ANNOUNCES SALE OF FIRST PRODUCTION MODEL TO BE DEPLOYED IN CANADA
DENVER, May 14, 2024 – CryoMass Technologies Inc. (the “Company” or “CryoMass”) (OTCQB: CRYM), a pioneering leader in cryogenic systems for refinement of trichome-rich crops, today announced the sale of its first production model. As previously announced in January of this year, CryoMass entered into an agreement to sell up to five CryoSift Separators™ (“Units”). The transaction we are announcing today is the first of such Unit sales for CAD$1.62 million, which will be deployed in Canada, marking a significant milestone in the Company’s growth trajectory.
Facilitated by a multi-year, multi-party Equipment Lease and Non-Exclusive Patent License agreement between CryoMass, a Special Purpose Vehicle (the buyer) and a Canadian cannabis and hemp operator (the lessee), this transaction enables CryoMass to actively introduce its patented biomass reduction and trichome refinement method and unique benefits to an established market. In addition to the revenue received from the sale of the Unit, CryoMass will receive a recurring revenue stream from processing fees for the life of the agreements. The buyer has 60 days to pay the amount due for the purchase of the Unit.
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JUSHI HOLDINGS INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS
Expanded Gross Profit Margin to 49.4% Following Strong Execution of Operational Improvement Plan
Net Loss of $18.4 Million, Compared to $12.4 Million in Q1 2023
Grew Adjusted EBITDA and Adjusted EBITDA Margin to $13.3 Million and 20.4% Respectively
Accelerated Product and Brand Development with the Launch of 443 New Unique SKUs in Q1 2024
Jushi Holdings Inc. Reports First Quarter 2024 Financial Results :: Jushi Holdings Inc. (JUSH) (jushico.com)
BOCA RATON, Fla., May 09, 2024 — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, is pleased to announce its financial results for the first quarter ended March 31, 2024 (“Q1 2024”). All financial information is unaudited and provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles (“GAAP”).
First Quarter 2024 Financial Highlights1
Total revenue of $65.5 million
Gross profit and gross profit margin of $32.3 million and 49.4%, respectively
Net loss of $18.4 million
Adjusted EBITDA1 of $13.3 million, an improvement of $5.7 million year-over-year
Adjusted EBITDA1 margin of 20.4%
Cash, cash equivalents, and restricted cash of $30.6 million as of quarter end
Net cash flows provided by operations of $6.5 million
1 See “Use of Non-GAAP Financial Information” and “Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA and Calculation of Adjusted EBITDA Margin” below.
First Quarter 2024 Company Highlights
Introduced 443 new unique SKUs across the Company’s five vertical markets, an increase of more than 153% compared to new unique SKUs launched in the fourth quarter of 2023 (“Q4 2023”).
Increased Jushi-branded product sales as a percentage of total retail revenue across the Company’s five vertical markets from approximately 49.6% in the first quarter of 2023 (“Q1 2023”) to approximately 54.4%.
Opened 17th Beyond Hello™ dispensary in Pennsylvania in the city of Mount Pocono.
Continued progress on the Company’s debt reduction plan with a scheduled payment of approximately $2.4 million made on its first lien financing with SunStream Bancorp Inc.
Refinanced approximately $9.9 million of unsecured debt with $4.8 million principal amount of Second Lien Notes, fully detached warrants to purchase an aggregate of 1,800,000 of the Company’s Subordinate Voting Shares (“SVS”), with an exercise price of $1.00 per SVS, and $2.8 million cash payment.
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TERRASCEND REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS
Net Revenue of $80.6 million, an increase of 16.1% year-over-year
Cash Flow from operations of $13.3 million and Free Cash Flow1 of $10.5 million in the quarter
TerrAscend Reports First Quarter 2024 Financial Results :: TerrAscend Corp. (TSND)
TORONTO, May 09, 2024 — 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, 2024. All amounts are expressed in U.S. dollars and are prepared under U.S. Generally Accepted Accounting Principles (GAAP), unless indicated otherwise.
The following financial measures are reported as results from continuing operations due to the shutdown of the licensed producer business in Canada, which is reported as discontinued operations through September 30, 2023. All historical periods have been restated accordingly.
First Quarter 2024 Financial Highlights
Net Revenue was $80.6 million, an increase of 16.1% year-over-year.
Gross Profit Margin was 48.0%, compared to 48.8% in Q1 2023.
Net loss from continuing operations was $14.9 million, compared to a net loss of $19.2 million in Q1 2023.
EBITDA from continuing operations1 was $8.7 million, compared to $6.1 million in Q1 2023.
Adjusted EBITDA from continuing operations1 was $16.2 million, compared to $12.2 million in Q1 2023, an increase of 33.0% year-over-year.
Adjusted EBITDA Margin from continuing operations1 was 20.1%, compared to 17.6% in Q1 2023.
Cash flow provided by operating activities from continuing operations was $13.3 million compared to $10.5 million in Q1 2023.
Free Cash Flow1 was $10.5 million compared to $8.0 million in Q1 2023.
“For the first quarter, revenue and Adjusted EBITDA increased materially year-over-year and we delivered another quarter of strong positive Free Cash Flow,” stated Jason Wild, Executive Chairman of TerrAscend. “Independent of reform, we enter this exciting stretch with the right team and high-performing assets. There are also multiple catalysts on the horizon that would further amplify our results going forward. In Pennsylvania, adult use appears to be closer than ever given recent legislative activities and comments from the Governor. At the federal level, the recent news around DEA rescheduling is encouraging and, if implemented, would dramatically improve our balance sheet and profitability. Finally, one of TerrAscend’s major differentiators is our ‘wide open map’. This enables us to strike extremely accretive deals to enter additional attractive states via best in breed operators. We can’t wait to share more details on this front when appropriate.”
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OPTIMI HEALTH PROVIDES CORPORATE UPDATE
VANCOUVER, BC – May 10, 2024 – Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a leading Health Canada licensed GMP psychedelics pharmaceutical manufacturer, specializing in controlled substances such as botanical psilocybin and MDMA, announces that it intends to close the final tranche of its non-brokered private placement imminently (the “Offering”).
The Offering consists of units (each a “Unit”) at CAD$0.30 per Unit for gross proceeds of up to CAD$1,500,000. Optimi has already raised CAD$555,010 which closed February 23, 2024. Each Unit is comprised of one (1) common share in the capital of the Company (each a “Common Share“) and one-half of one (1/2) transferable Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder to acquire one (1) Common Share at CAD$0.40 for two (2) years from the date of issuance, subject to an accelerated expiry provision, whereby in the event the closing price of the Company’s Common Shares on the Canadian Securities Exchange (the “Exchange”) exceeds CAD$0.50 for a period of 20 consecutive trading days, at the Company’s election, the period within which the Warrants are exercisable, will be reduced and the holders of the Warrants will be entitled to exercise their Warrants for a period of 30 days commencing on the day the Company provides notice, any outstanding Warrants not exercised during the 30 day period will expire. The Company intends to use the net proceeds from the Offering to obtain its Drug Establishment License, facilitate commercialization, and for general working capital.
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VILLAGE FARMS INTERNATIONAL REPORTS STRONG Q1/24 RESULTS
Total Sales Grow 21%, Net Loss Per Share Improves to ($0.03), Adjusted EBITDA Increases Six-Fold to $3.6 Million
Canadian Cannabis Retail Net Sales Grow 28% Organically Year-Over-Year, with Positive Adjusted EBITDA and Positive Free Cash Flow
Canadian Cannabis Expands Number 2 National Market Share Position1
Fresh Produce Delivers Profitability on Higher Year-Over-Year Sales and Improved EBITDA Margin
https://news.villagefarms.com/news-releases/news-release-details/village-farms-international-reports-strong-q124-results
VANCOUVER, British Columbia, May 08, 2024 — Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today reported its financial results for the first quarter ended March 31, 2024. All figures are in U.S. dollars unless otherwise indicated.
Management Commentary
“The first quarter was an especially strong start to 2024. Canadian Cannabis retail branded sales grew 28% year-over-year, all organically, as we led the top five LPs in market share growth, further narrowing the gap to number one, and achieving a new record in April. Our success in quality, innovation and brand building, together with the support of our provincial boards and retail partners, are driving these results as we delight our consumers,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms International. “In addition, our Fresh Produce business was profitable on a solid year-over-year increase in sales, with an improved adjusted EBITDA margin.”
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CRONOS GROUP REPORTS 2024 FIRST QUARTER RESULTS
Industry-leading balance sheet with $855 million in cash and cash equivalents
Net revenue in Q1 2024 increased by 30% year-over-year to $25.3 million
Spinach® was top-3 in retail sales in Canada in the flower, edible, and vape categories in Q1 2024
Launched PEACE NATURALS® brand in the United Kingdom in May 2024
Cronos Group Reports 2024 First Quarter Results | The Cronos Group (gcs-web.com)
TORONTO, May 09, 2024 — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), today announces its 2024 first quarter business results.
“Cronos achieved its highest quarterly net revenue from continuing operations on record at $25.3 million, up 30% year-over-year. The top line was propelled by 31% growth year-over-year in Canada, and 27% growth year-over-year in Israel. Cronos’ strong first quarter results are a testament to our global team’s commitment to excellence, innovation and their ability to adapt to changing market conditions,” said Mike Gorenstein, Chairman, President and CEO, Cronos.
“We continue to bring new innovations to Canada across our Spinach® and Lord Jones® brands, which are helping to drive market share gains,” continued Mr. Gorenstein. “Spinach® is the number two overall brand in Canada, driven by top three positions in the edibles, vape, and flower categories. Innovations under the Spinach® brand include the SOURZ by Spinach® Fully Blasted edibles and new flavor-forward vapes. Under Lord Jones®, although these are early days, sales across the vape, edible and pre-roll categories are gaining momentum and we are very excited to see the growth in this brand since we re-introduced it to the THC category in Canada. In Israel, following a challenging fourth quarter, our team there responded with incredible resilience, driving a substantial sequential improvement in performance. We continue to focus on bringing our leading cannabis genetics to Israel, with top-performing flower products such as Wedding Cake and GMO, under the PEACE NATURALS® brand, winning with consumers. We remain steadfastly focused on building the world’s best borderless products to take advantage of any new markets that open.”
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BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS OVER 878,000 AND 635 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MAY 10, 2024 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
MAY 10 2024- 878,510 MAY 03 2024- 880,596 APR 26 2024- 880,240
APR 19 2024- 879,763 APR 12 2024- 878,724 Pattients Last Week: -2,086
Qualified Ordering Physicians: 2,335
New Doctors Last Week: - 2 Reporting Period: MAY 3 TO MAY 9 2024 Amount of Medical Marijuana Dispensed - (mgs THC) 332,123,135
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,785,193
Amount of Marijuana in a From for Smoking (oz) 110,659.847 Approved Dispensing Locations: 635 ADD LAST WEEK : 2
MUV - HAINES CITY TRUIEVE - STUART |
UPCOMING MEETING AND CONFERENCES |
MEMBERS OF THE FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP EMAIL CHARLES FELIX AT charles@cannabisnewsflorida.com FOR THE MEMBER DISCOUNT CODE FOR THIS YEARS FLORIDA MEDICAL CANNABIS CONFERENCE & EXHIBITION |
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