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Cannabis Earnings Season Reveals $500 Million Annual Profitable Revenue Ahead for Leading MSOs

The Public Cannabis Company Revenue & Income Tracker, managed by New Cannabis Ventures, ranks the top revenue producing cannabis stocks that generate industry sales of more than US$10 million per quarter (C$13.2 million). This data-driven, fact-based tracker will continually update based on new financial filings so that readers can stay up to date. Companies must file […]

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The Public Cannabis Company Revenue & Income Tracker, managed by New Cannabis Ventures, ranks the top revenue producing cannabis stocks that generate industry sales of more than US$10 million per quarter (C$13.2 million). This data-driven, fact-based tracker will continually update based on new financial filings so that readers can stay up to date. Companies must file with the SEC or SEDAR and be current to be considered for inclusion. Please note that we raised the minimum quarterly revenue several times as the industry has scaled up, including from US$7.5 million in June 2020, from US$5.0 million in October 2019 and from US$2.5 million in May 2019.

35 companies currently qualify for inclusion, with 21 filing in U.S. dollars and 14 in the Canadian currency, which is up from the 34 when we reported at the end of July. In the U.S., we added cbdMD (NYSE American: YCBD). In Canada, we added MediPharm Labs (TSX: LABS) (OTC: MEDIF) and removed Aleafia Health (TSX: ALEF) (OTCD: ALEAF). Some companies have taken advantage of revised filing deadlines that have been extended due to the pandemic, and we expect to continue to see some delays. We also expect to add a few names to the rankings over the balance of this reporting season and the rest of the year.

In May 2019, we added an additional metric, “Adjusted Operating Income”, as we detailed in our newsletter. The calculation takes the reported operating income and adjusts it for any changes in the fair value of biological assets required under IFRS accounting. We believe that this adjustment improves comparability for the companies across IFRS and GAAP accounting. We note that often operating income can include one-time items like stock compensation, inventory write-downs or public listing expenses, and we recommend that readers understand how these non-cash items can impact quarterly financials. Many companies are moving from IFRS to U.S. GAAP accounting, which will reduce our need to make adjustments. Please note that our rankings include only actual reported revenue, and not pro forma revenue. We also note that companies with non-cannabis operations must provide segment-level financial reports that detail not only revenue but also operating profit to be included in the tracker.

In the first part of August, some of the leading MSOs handily beat expectations on revenue and profitability. Trulieve (CSE: TRUL) (OTC: TCNNF) regained the top spot for MSOs, reporting revenue of $121 million, up 26% sequentially and 109% from a year ago, well ahead of expectations. The company’s adjusted operating income represented 45% of sales. Trulieve, which generated $484 million in revenue on an annualized basis, upped its 2020 guidance to $465-485 million million from $380-400 million. Green Thumb Industries (CSE: GTII) (OTC: GTBIF), which had been expected to generated $103 million revenue, reported $120 million, up 17% sequentially and 168% from a year ago. The company’s adjusted operating margin was 12%. Harvest Health & Recreation (CSE: HARV) (OTC: HRVSF) also beat expectations, reporting revenue of $55.7 million, up 26% sequentially.

Other reports of note included GW Pharma (NASDAQ: GWPH), which met expectations at $121 million, up 1% sequentially and 68% from a year ago, and GrowGeneration (NASDAQ: GRWG), which far surpassed expectations. The company grew revenue 32% sequentially and 123% from a year ago, generating an operating income of $2.8 million. It boosted guidance for 2020 from $135-140 million to $170-75 million and adjusted EBITDA from $12-14 million to $17-18 million, and it provided initial guidance for 2021 to generate revenue of $245-260 million and adjusted EBITDA of $26-28 million.

American Dollar Reporting – Public Cannabis Company Revenue Tracker

During the second half of August, we will get several more updates, including from two of the largest MSOs, beginning with Curaleaf (CSE: CURA) (OTC: CURLF) on the 17th. According to Sentieo, analysts expect revenue to be $109 million, up 14% sequentially and 124% from a year ago. Q2 will be the first to include a full quarter of contribution from the Select acquisition earlier this year but will exclude revenue from the recently acquired Grassroots Cannabis. In Q1, the company reported a pro forma revenue of $147 million that is intended to depict the revenue generation of the company with all pending and closed acquisitions as well as gross up revenue from managed services, and it guided for Q2 pro forma revenue to $165 million, which would be up 12% from Q1.

Cresco Labs (CSE: CL) (OTC: CRLBF), which reports on the 20th, is expected to see Q2 revenue increase 14% from Q1 to $76 million, which would represent 154% growth from a year ago. The company acquired Origin House early in Q1, which helped boost revenue during the quarter, and it also reported strong contributions from Illinois and Pennsylvania.

For those interested in more information about companies reporting, we publish comprehensive earnings previews and reviews for subscribers at 420 Investor on many of these companies, including for Focus List names Cresco Labs and Curaleaf.

Of the companies that report in Canadian dollars, Canopy Growth (TSX: WEED) (NYSE: CGC) maintained its leadership position as it surpassed analyst expectations by reporting revenue of C$110 million, up 2% sequentially and 22% from a year ago. It also improved its adjusted operating loss to -C$172 million. The company’s growth was supported by sequential growth in its ancillary businesses. Sundial saw a large gain in cannabis revenue as it decreased its operating loss by 40% to a still quite-large C$21.6 million. MediPharm Labs rejoined the list after growing revenue by 26% sequentially, though this represented a 56% decline from a year ago.

Canadian Dollar Reporting – Public Cannabis Company Revenue Tracker

During the second half of August, Alcanna (TSX: CLIQ) (OTC: LQSIF) and TerrAscend (CSE: TER) (OTC: TRSSF) will report their Q2 financials. Alcanna generates predominantly non-cannabis revenue through its liquor-store operations. According to Sentieo, it is expected to increase 26% from a year ago to C$253 million. TerrAscend recently pre-announced its Q2 ahead of guidance it had provided in May. The company had previously projected revenue of C$45 million, with gross margin and adjusted EBITDA expected to improve sequentially. It will report revenue of C$47.2 million, up 36% from Q1 and 169% from a year ago, and adjusted EBITDA of C$11.4 million, up approximately 128% from Q1. 90% of the company’s revenue is generated from its American operations.

For those interested in more information about companies reporting, we publish comprehensive earnings previews and reviews for subscribers at 420 Investor, including for Focus List members Alcanna and TerrAscend.

Visit the Public Cannabis Company Revenue Tracker to track and explore the complete list of qualifying companies. We have recently created a way for our readers to access our library of Revenue Tracker articles. For our readers who are interested in staying on top of scheduled earnings calls in the sector, we have have created and continually update the Cannabis Investor Earnings Conference Call Calendar.

Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.

Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email


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Source: https://www.newcannabisventures.com/cannabis-earnings-season-reveals-500-million-annual-profitable-revenue-ahead-for-leading-msos/

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Watermelon Dream Sauce

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Visit our community site for vetted suppliers at http://theCBD.place. It’s time that this subject was given more internet exposure. We are here to discuss topics related to medical marijuana and our experiences using CBD. Please do not assume that anyone here is a medical professional.

Source: https://www.reddit.com/r/CBD/comments/jgxl3l/watermelon_dream_sauce/

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Pharmather Secures Exclusive Rights to Novel Microneedle Delivery Technology for Psychedelic Pharmaceuticals

Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (“Pharmather” or the “Company”) (CSE: PHRM) and a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that the Company has entered into an exclusive license agreement (the “Agreement”) with BioRAE, Inc., for the development and commercialization of […]

The post Pharmather Secures Exclusive Rights to Novel Microneedle Delivery Technology for Psychedelic Pharmaceuticals appeared first on CannabisFN.

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Ryan Allway

October 23rd, 2020

Psychedelics


Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (“Pharmather” or the “Company”) (CSE: PHRM) and a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that the Company has entered into an exclusive license agreement (the “Agreement”) with BioRAE, Inc., for the development and commercialization of a novel biocompatible and biodegradable gelatin methacryloyl microneedle (“GelMA-MN”) delivery technology developed at the University of California, Los Angeles (“UCLA”) for use with psychedelic pharmaceuticals, including, but not limited to Psilocybin, Ketamine, Ibogaine, LSD, MDMA, DMT, and Cannabinoids.

“We are very pleased to have acquired the rights to this novel microneedle delivery technology as it strengthens the foundation of our strategy to develop and commercialize a unique pipeline of psychedelic pharmaceuticals for FDA approval and I believe puts us in the conversation with companies such as Compass Pathways and Mind Medicine, who are leading the way in psychedelic medicines,” said Fabio Chianelli, Chief Executive Officer of Pharmather. “The GelMA-MN delivery technology is complementary to our approach in finding new uses and combinations of psychedelics to improve therapeutic and safety outcomes while potentially offering a differentiated product profile, improving patient compliance and enabling out-patient treatment options. We are focused on realizing the potential of the GelMA-MN delivery technology and it will open up new market opportunities in multi-billion dollar categories such as mental health, nervous system disorders, pain, skin cancer, wounds, mucosal diseases and surgical applications.”

“We are pleased to partner with Pharmather and to realize the commercial potential of the GelMA-MN delivery technology as a unique delivery system for treating unmet medical needs,” said Dr. Ali Khademhosseini, Co-Founder of BioRAE, Inc. and Co-Inventor of GelMA-MN delivery technology.

About GelMA-MN Delivery Technology

The GelMA-MN (Figure 1) delivery technology was invented and developed by the members of the Khademhosseini Lab at UCLA. Studies have shown that GelMA can be used for the fabrication of MN arrays and the delivery of both water-soluble and insoluble drugs with desirable release profiles. GelMA is derived from the natural polymer gelatin with crosslinkable methacrylate group making it an ideal candidate for MN fabrication and various other biomedical applications. The GelMA-MNs are biocompatible and biodegradable, can efficiently penetrate the stratum corneum layer (outer layer of the skin), enable flexible drug load capacity and combinations, and control-release delivery. MNs are considered as a promising way to achieve systemic effects by transdermal delivery of drugs. In addition to applications on the skin, MNs may be applied in other organs and tissues like the eyes and mucosal surfaces. MNs are minimally invasive, painless, and may overcome the potential drawbacks of oral administration, subcutaneous injections and other transdermal delivery systems.

Under the terms of the Agreement, the Company gained exclusive worldwide rights to intellectual property to develop and commercialize the GelMA-MN delivery technology with psychedelics, cannabinoids, and various compounds for therapeutic uses. Consistent with industry standards, Pharmather will pay a one-time fee for entering into the Agreement and all other future payments will be based on clinical trial and revenue milestones reached by Pharmather in the future.

About Pharmather Inc.

Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM), is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals. Pharmather repurposes psychedelic pharmaceuticals, such as ketamine and psilocybin, for FDA approval to treat disorders of the brain and nervous system. Our team includes world-class strategic partners, advisors and a strong leadership team with a proven track record of success in drug development, business development and capital markets. Our goal is to advance the development of panaceAI™, our drug repurposing artificial intelligence platform, and our clinical product pipeline with ketamine and psilocybin in the treatment of Parkinson’s Disease, depression, traumatic brain injury and stroke. Learn more at: pharmather.com and follow us on FacebookTwitter and LinkedIn.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/pharmather-secures-exclusive-rights-to-novel-microneedle-delivery-technology-for-psychedelic-pharmaceuticals/

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Mind Cure Announces LOI for Acquisition of Epiphany360 Digital Therapeutics Platform for Treating Mental Health

Mind Cure Health Inc. (CSE: MCUR) (“Mind Cure” or the “Corporation”) is pleased today to announce that it has entered into a non-binding letter of intent dated October 16, 2020 (the “LOI“), which sets out basic terms and conditions for the acquisition by Mind Cure of Ephiphany360, a proprietary cloud-based digital therapeutics platform for treating mental health. The […]

The post Mind Cure Announces LOI for Acquisition of Epiphany360 Digital Therapeutics Platform for Treating Mental Health appeared first on CannabisFN.

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Ryan Allway

October 23rd, 2020

Psychedelics


Mind Cure Health Inc. (CSE: MCUR) (“Mind Cure” or the “Corporation”) is pleased today to announce that it has entered into a non-binding letter of intent dated October 16, 2020 (the “LOI“), which sets out basic terms and conditions for the acquisition by Mind Cure of Ephiphany360, a proprietary cloud-based digital therapeutics platform for treating mental health.

The Epiphany360 platform has been clinically validated on more than 10,000 patients over the last 20 years. Four feasibility studies are currently underway, the protocols of which have been designated ‘non-significant risk.’ The data being collected will form part of Epiphany360’s submission to the FDA for clearance as a Class II medical device.

“We are accelerating our move into digital therapeutics with the Epiphany360 platform to bring evidence-based insights in the diagnoses and treatment of patients suffering from mental health related illness,” stated Philip Tapley, Mind Cure Chairman, President, and CEO. “Technology innovation has a key role to play in modern healthcare as we look to find new and more effective ways to treat mental health. Epiphany360 will enable Mind Cure to more effectively create and evaluate products, drugs and therapies.”

Dr. Antonio Ocana, the Founder of Epiphany360, said, “We created the Epiphany360 platform to address the devastation experienced by individuals, families and society in the wake of the tragedy associated with mental health and addiction. It’s like a dream come true to work side by side with Mr. Tapley and the Mind Cure team. Together we will optimize the technology that will finally co-ordinate care between doctors, therapists and patients, ultimately, making these solutions accessible to researchers, employers and insurers who will benefit from the improved outcomes and lower healthcare costs. We feel very lucky to have Mind Cure’s scientific advisory team alongside as we move towards regulatory approval.”

The mental health crisis, made worse by COVID-19, is impacting hundreds of millions of people, lowering productivity and increasing absenteeism and disability, the global burden of which is estimated at more than $1 trillion annually. Mind Cure believes that the application of digital therapeutics can unlock immense value, both enhancing patient access and engagement, as well as making mental health treatment safer and more effective.

About Epiphany360

Epiphany360 is a proprietary and cloud-based digital therapeutics platform. It monitors, collects and generates evidence-based insights to optimize treatment and improve patient outcomes in mental health-related conditions. It is powered by proprietary software that compares treatments and outcomes to continuously improve the validity and accuracy of unique patient care options and is backed by 25 years of clinical experience and scientific data.

Four feasibility studies are currently underway, the protocols of which have been designated ‘non-significant risk.’ The data being collected will form part of Epiphany360’s submission to the FDA for clearance as a Class II medical device.

About Mind Cure Health Inc.

Mind Cure is a mental health and wellness company with a mission to identify, develop and commercialize products that ease suffering, increase productivity, and enhance mental health. It is the therapeutic potential of nootropics, psychoactive products, and psychedelic substances to treat the profound distress of a world suffering from a mental health crisis that led to the formation of Mind Cure.

Pursuant to the LOI, the parties intend to negotiate the terms of a definitive agreement (the “Definitive Agreement“), which will provide for, among other things the acquisition by Mind Cure of substantially all the assets of Epiphany360 in exchange for $2,000,000 of common shares in the capital of Mind Cure based on the ten day volume weighted average price of Mind Cure’s common shares on the Canadian Securities Exchange immediately prior to the closing date (the “Purchase Shares“). The Purchase Shares will be subject to an escrow agreement to be released as follows: 15% released immediately at closing, and the balance to be released in six equal installments every six months for 36 months. There can be no assurance that the Definitive Agreement will be entered into or that the acquisition will be completed on the terms proposed in the LOI or at all.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/mind-cure-announces-loi-for-acquisition-of-epiphany360-digital-therapeutics-platform-for-treating-mental-health/

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