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At C4, in Chico, California, the benefits of automation go beyond efficiency—they also create opportunities for community development.
In the quiet hum of a manufacturing facility in Chico, California, lies a story as old as the American dream. It's about a man who turned adversity into opportunity, using grit, ingenuity, and a commitment to better his community. From the fields to the factory floor, it's a reminder of the enduring belief that work is not just about profit, it's about purpose and building something that lasts while uplifting others along the way.
At the heart of this story is Dave Petersen, a former Green Beret and PSYOP specialist, who found his calling in cannabis. After years of serving his country and battling PTSD, Petersen built a business that combines cutting-edge automation with a mission to educate and empower the next generation. His Chico California Cannabis Company (C4) isn't just about making products, it's about making progress.
After serving multiple tours in Afghanistan and Kosovo, Petersen faced the challenges of reintegration and PTSD. Disheartened by traditional treatments that emphasized pharmaceuticals, he turned to gardening with cannabis, initially as a suggestion from friends in the industry. What began as an experiment became life-changing.
Dave Petersen in Chico, California.
“I was out in the sun, grounded to the earth, and working with these plants. Slowly, my symptoms began to subside—better sleep, less hypersensitivity to noise, and improved overall health,” Petersen told Benzinga Cannabis in an exclusive interview. The experience inspired him to transition from military service to the cannabis industry, seeing firsthand the plant's medicinal benefits.
Dave Petersen's military background, rooted in precision and strategic planning, provided him with a unique lens through which to view the cannabis industry. Early in his journey, he recognized a crucial shift: the cannabis market was evolving from small-scale craft operations to a competitive global industry where efficiency and scalability were paramount.
“Looking at market trends and licensing data, it was clear that automation was the only way to cut costs and keep production efficient,” Petersen said. Armed with data, he identified the inefficiencies that plagued traditional cannabis operations—manual processes, high overhead, and limited scalability.
Petersen's solution? Automation. His facility features state-of-the-art equipment such as the Xylem 3 cartridge filler and the APEHEX pre-roll machine. These machines, built by innovators who understand the nuances of cannabis processing, are helping operators like Peterson transform how the industry works.
After witnessing early adopters in the industry fail with repurposed equipment that wasn't fit for cannabis, Petersen waited until the technology matured. “In 2020 and 2021, we saw equipment that was finally functional, tailored for the unique needs of cannabis and hemp.” This strategic patience paid off: his initial automation investments yielded a return within just seven months, far exceeding the 18-month timeline he had planned for.
“Automation allowed us to scale up or down without the heavy burden of overhead, which is critical in this unpredictable market,” Petersen explained. By automating labor-intensive tasks like filling cartridges and rolling prerolls, his operation cut costs and improved turnaround times for clients.
Even more importantly, automation has enabled Petersen to thrive in a market with razor-thin margins, allowing C4 to undercut larger competitors weighed down by inefficient processes. “The industry is chaotic and unpredictable,” he noted. “We knew that by keeping our costs low and production reliable, we could survive—and even grow—in this environment.”
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C4's business is built on collaboration, with a primary focus on white-label manufacturing. Petersen has positioned the company as a solutions provider for a wide range of clients, from boutique cannabis brands to major cultivators. “We work with everyone—from small brands looking for turnkey solutions to major farms.”
By offering custom agreements such as profit-sharing deals, the company ensures its partners can access high-quality products without the capital investment required to build their infrastructure.
Petersen’s relationships with top growers across California also play a critical role. He can secure premium cannabis biomass for his facility, which is then transformed into retail-ready products. These products include cartridges, prerolls, and extracts, all produced with cutting-edge equipment.
Extraction Equipment -Courtesy of C4.
C4's model is also about creating opportunities for brands. “Some of our clients are just brands—they don't grow or manufacture at all. We handle everything from production to packaging, and they focus on sales and marketing.”
This approach has made C4 indispensable for cash-strapped operators, as Petersen structures deal to accommodate limited resources through output splitting and flexible payment terms.
“Our goal was to create accessible, good products,” Petersen noted. By combining top-quality inputs with efficient automation, C4 delivers competitive pricing while maintaining strong profit margins.
Read Also: No Middleman, No Markup: How Red Mesa Is Slashing Costs With Around-The-Clock Hemp Refinement
For Petersen, the benefits of automation go beyond efficiency as they create opportunities for community development. Through C4, he trains young adults to operate and maintain specialized equipment, equipping them with skills applicable across industries.
“These machines aren't just about cannabis. The extraction and packaging techniques we use overlap with pharmaceuticals and essential oils,” Petersen said. “We're giving kids who lack direction a chance to learn a trade, earn a living, and build a future.”
This focus on workforce development echoes the history of American manufacturing, where trades provided pathways to economic mobility. Petersen sees this as a way to revive the spirit of technical education and localized production, which he contends has eroded over time.
Petersen's business philosophy reflects the intersection of technological innovation and a belief in the cannabis plant's transformative potential. He sees cannabis not only as a medicinal product but also as a cornerstone of an industry capable of reshaping the American economy and conquering global cannabis markets overseas.
“Automation isn't just about making things faster, it's about creating sustainable systems and empowering people. Putting cannabis first is putting America first,” he told Benzinga, underscoring the potential for U.S.-made cannabis equipment to dominate global markets.
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At the recent Cannabis Market Spotlight: California event in Anaheim, Chelsea Kossower, Puffco's vice president of global expansion, emphasized the need for authenticity in the cannabis industry.
Speaking to a crowd of industry peers and enthusiasts, Kossower addressed how brands can best connect with the cannabis community by moving beyond traditional sales tactics.
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During her panel discussion, Kossower highlighted that cultivating real brand loyalty in cannabis involves more than financial investment. "Culture is not something you can just throw money at and buy," Kossower explained, stressing that brands must deeply understand the community they aim to serve. She recommended approaching the industry with a "student mentality" to learn from those who have shaped it and continue to drive it forward.
According to Kossower, Puffco's focus on community loyalty starts with engaging the people who define cannabis culture: growers, advocates, and those developing the craft behind the scenes.
She noted, "Before the brand loyalty or anything, it's really engaging with the culture and the community loyalty," recognizing the individuals who contribute to cannabis brands’ success through dedication to the craft. This approach, she said, fosters a more genuine bond with the community and supports long-term brand success.
In light of recent challenges within the cannabis industry, Kossower expressed feeling "heavy" but emphasized that Puffco's mission remains unchanged. She reinforced her commitment to advancing the normalization of cannabis, focusing on positivity, and supporting "the love in the world, not just the negativity."
The panel discussion left attendees with a clear takeaway: genuine engagement and respect for cannabis culture are essential for brands that want to make a meaningful impact in the industry. Kossower's insights reaffirm Puffco's commitment to fostering authentic connections within California's cannabis market and beyond.
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Image: Shutterstock
Jeff Levers, co-founder of Beard Bros Pharms, shared candid insights into the challenges and potential of California's cannabis industry at the recent Benzinga Cannabis Market Spotlight: California event in Anaheim. He described the industry in three words: "struggle, resiliency and a positive future,” acknowledging the persistent hurdles operators face while expressing optimism for improvement.
Levers highlighted the ongoing challenges within California's cannabis market, noting that high taxation, regulatory complexities and fluctuating demand have posed obstacles.
Yet, despite these issues, he emphasized the resilience shown by industry participants and the potential for a more stable future. According to Levers, California's cannabis market, though challenging, continues to adapt and find ways to survive.
Beard Bros Pharms has built a reputation not only through its cannabis products but also as a media voice in the industry. At the event, Levers underscored the role of Beard Bros Media in providing current news, event coverage, and insights into cannabis culture and policy. This dual approach, blending product and media expertise, allows the brand to build connections across states and enhance its influence.
"Our goal in attending Benzinga events," Levers noted, "is expanding our network." Having participated in Benzinga events in Florida and Chicago this year, Levers explained how these gatherings create essential networking opportunities across the cannabis landscape. "If you’ve attended one, you then realize the value of going to one in another area," he remarked.
While Levers describes himself as a "flower guy" at heart, he appreciates the broadening range of cannabis products now available, from topicals and edibles to innovative beverage options.
This diversity, he explained, enables consumers to engage with cannabis in new, discreet ways. He still considers flower his "preferred child" in the expanding family of cannabis options, highlighting his dedication to cultivation and traditional methods.
As Beard Bros Pharms navigates both the product and media spaces, Levers remains optimistic about the future of cannabis, seeing it as a market that, while tested, has the strength to endure and grow.
The image was created using artificial intelligence.
NVIDIA Corporation (NASDAQ:NVDA) is set to capture the attention of investors around the world when it reports third-quarter financial results after the market closes on Wednesday.
Here's a look at how Benzinga readers feel ahead of the highly anticipated report.
What Happened: Nvidia may have been founded in a Denny's restaurant with humble beginnings. Today, the company is the most valuable in the world, worth $3.61 trillion.
Benzinga readers think the stock could be heading higher if third-quarter earnings are strong.
Analysts expect the technology giant to report third-quarter revenue of $33.12 billion on Wednesday, Nov. 20 after market close.
That's up from $18.12 billion in last year’s third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in eight straight quarters and nine of the last 10 quarters overall.
Analysts expect third-quarter earnings per share of 75 cents. That's up from 40 cents per share in last year’s third quarter. The company beat analyst estimates for earnings per share in seven straight quarters and eight of the last 10 quarters.
Guidance from the company calls for third-quarter revenue to be $32.5 billion plus or minus 2%.
"What's your boldest prediction for Nvidia's earnings report on Wednesday?" Benzinga asked readers.
The results were:
The majority of Benzinga readers expect the company to meet or beat the estimates from analysts. While more readers expect the company to meet estimates, 42% believe the company will beat estimates Wednesday.
On X, Benzinga polled followers with a similar question.
"Will $NVDA beat or miss earnings?" Benzinga asked.
The results were:
A larger majority of Benzinga followers on X expect the company to beat estimates, with the caveat that there was no option for meet and it was strictly guessing a beat or a miss.
Are you buying when the CEOs of the Magnificent 7 are selling?
What's Next: With the chance of an earnings beat, Benzinga also asked about their expectations for the stock if Nvidia blows out earnings estimates.
"If Nvidia shatters expectations, how high could its stock go by the end of 2024?" Benzinga asked.
The results were:
Nvidia shares closed at $147.01 on Tuesday and have traded between $45.01 and $149.76. They are up over 200% year-to-date.
Benzinga readers see the stock hitting new all-time highs if third-quarter results come in ahead of analyst estimates.
If the stock goes higher, Nvidia CEO Jensen Huang would continue to benefit as one of the key shareholders of the stock. Huang's wealth has soared to $128 billion in 2024, ranking 11th in the world according to Bloomberg.
Huang has added $84.3 billion to his wealth and is around $17 billion away from cracking the top 10 richest people in the world milestone. If shares continue to trade higher to the end of the year, this milestone could be within reach.
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The study was conducted by Benzinga from Nov. 19 through Nov. 20, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 146 adults.
Photo: Shutterstock
On Wednesday, La Rosa Holdings Corp (NASDAQ: LRHC) reported financial results for the third quarter ended September 30, 2024.
Total revenue increased 188% year-over-year to $19.6 million. Residential real estate services revenue increased 328% to $16.5 million.
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Property management revenue increased by 14% to $2.9 million. Real Estate Brokerage Services (Commercial) revenue increased by 110% to $0.06 million.
The increase was driven by $12.2 million of revenue from the six acquisitions completed in the fourth quarter of fiscal year 2023 and the seven acquisitions completed in the first nine months of fiscal year 2024.
The company increased its transaction fee, monthly agent fee, and annual fee effective September 1, 2023, which, if volume returns to 2023 levels, real estate brokerage services revenue, excluding incremental acquisition revenue, will increase in 2024.
Selling, general and administrative costs, excluding stock-based compensation, for the third quarter were approximately $3.0 million, compared to $0.99 million last year.
A portion of this increase was driven by $1.1 million of additional costs from the thirteen acquisitions the company completed since the company’s initial public offering (IPO) in October 2023, in addition to increased payroll and benefits, insurance and training, and public company costs in connection with the IPO, compared to the same period in 2023.
Net loss for the third quarter was $3.4 million, or 21 cents, compared to $0.34 million, or 6 cents, in the year-ago quarter.
La Rosa Holdings expanded its footprint in the real estate market during the first nine months of fiscal 2024 by acquiring seven brokerage franchisees and finalizing the purchase of Nona Title Agency, operating as Red Door Title.
The company also announced plans to acquire a real estate brokerage firm with over 950 agents and $19 million in 2023 revenue.
Alongside these acquisitions, La Rosa restructured its debt, improving its financial stability and reducing note liabilities by approximately 9.5%.
Adding Nona Title Agency enabled La Rosa to offer title insurance services, enhancing its ability to deliver seamless, end-to-end solutions for homebuyers and sellers.
The company said that Title services are positioned as a high-margin revenue stream with significant growth potential in 2025.
Looking ahead, La Rosa projects an annualized revenue run rate of $100 million by the end of 2024, driven by operational scaling, diversified revenue streams, and new agent integrations.
Profitability is expected by 2025, supported by cost discipline, enhanced technology offerings, and a continued commitment to agent success and customer satisfaction.
Price Action: LRHC stock closed higher by 2.36% at $0.7590 on Tuesday.
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