Against All Odds: 11 Cannabis Companies That Made It To Financial Times' 500 Fastest-Growing List

Despite what often appeared to be endless industry struggles such as the lack of capital access, federal reform and scientific research, in addition to the tough competition with illegal markets, some marijuana businesses are managing to stay afloat. As many as 11 made it onto his year’s Financial Times ranking of the 500 fastest-growing companies in the Americas, based on the highest growth in publicly disclosed revenues between 2018 and 2021.

To say that the change from last year’s list is huge would be an understatement, considering that in 2022 there was only one cannabis company on the list and the year before not the single one.

See also: Why Are Cannabis Stocks Trading Higher Today?

The 11 marijuana businesses on the list had compound annual growth rates (CAGR) in the range from 21% to 175% between 2018 to 2021 and two even reported $1 billion in sales. Using the CAGR factor, some of these companies ranked better than automotive giant Tesla TSLA, or e-commerce titan Amazon AMZN. Nevertheless, if the sorting of the list was based on total 2021 revenues both Tesla and Amazon would rank very high on the list.

Here are the cannabis companies that have managed to grow their businesses in spite of difficult industry conditions:

• High Tide Inc HITI grew at 175% CAGR and had revenue of $144.5 million in 2021.
• Cresco Labs Inc CRLBF grew at 167% CAGR and had revenue of $821.7 million in 2021.
• GrowGeneration Corp GRWG grew at 144% CAGR and had revenue of $422.5 million in 2021.
• Columbia Care Inc CCHWF grew at 127% CAGR and had revenue of $460.1 million in 2021.
• Schwazze SHWZ  grew at 126% CAGR and had revenue of $108.4 million in 2021.
• MariMed Inc MRMD grew at 117% CAGR and had revenue of $121.5 million in 2021.
• Trulieve Cannabis Corp TCNNF grew at 109% CAGR and had revenue of $938.4 million in 2021.
• Glass House Brands GLASF grew at 98% CAGR and had revenue of $69.4 million in 2021.
• Willow Industries grew at 81% CAGR and had revenue of $3.3 million in 2021.
• Planet 13 Holdings PLNHF grew at 78% CAGR and had revenue of $119.5 million in 2021.
• Village Farms International Inc VFF grew at 21% CAGR and had revenue of $268.0 million in 2021.

To see the full list and more details of the fastest-growing cannabis companies in the Americas go to Financial Times.

Photo: Benzinga edit with images by Hvoenok and GOR Photo on Shutterstock