This Cannabis Co With Significant Growth Potential And Other Hot Weed Stocks Soon To Report Earnings, What Investors Need To Know Now

Vext

Vext Science, Inc. VEXT VEXTF, a cannabis operator with vertical operations in Arizona and Ohio, said it will release its financial results for the second quarter ended June 30, 2024, before the market opens on Tuesday, Aug. 20, 2024. A conference call and webcast will take place on the same day at 08:00 am Eastern Time.

Pablo Zuanic, senior analyst at Zuanic & Associates recently initiated coverage of Vext Science with an Overweight rating, highlighting the company’s significant growth potential. As highlighted by Benzinga's Nicolás Jose Rodriguez, Zuanic calculated that Vext has the most EBITDA torque among the twelve public multi-state operators (MSOs) in Ohio, projecting Vext’s EBITDA could grow six-fold by calendar 2026, taking calendar 2023 as the base year.

Recreational marijuana sales launched across Ohio on Tuesday, Aug. 6. Zuanic's projections are for the Ohio market to reach a $1.85 billion annual run rate by the end of 2025 and $2.36 billion by the end of 2026.

In May, the company reported first-quarter financial results. Eric Offenberger, the company's CEO said at the time the period "continued to present consumer-related challenges to all operators, with the Arizona market overall experiencing another decline in quarterly revenue."

Vext’s shares traded 3.85% lower at $0.1923 per share at the time of writing on Friday.

Auxly

Auxly Cannabis Group Inc. XLY CBWTF will report earnings results for its second quarter ended June 30, 2024, on Thursday, Aug. 15, 2024, before the financial markets open.

The shareholders of the Toronto-based company recently held their annual meeting, electing each of the five experts listed as a nominee in the circular as director of the company.

In May, Auxly revealed its financial outcomes for the first quarter ending March 31, 2024. The company announced record-breaking Q1 results, emphasizing significant gains in key financial metrics. Operational highlights for the period included converting over CA$123 million in debt into equity by Imperial Brands plc, resulting in a 19.8% ownership stake, and the extension of the Auxly Leamington credit facility to the end of 2025.

Auxly’s shares traded 1.03% higher at $0.0293 at per share at the time of writing on Friday.

Read Also: Canadian Cannabis Companies Could See Valuations Soar By Up To 300% With Tax Reform, New Report Shows

MediPharm

Cannabinoids-focused MediPharm Labs Corp. LABS MEDIF MLZ will release its second quarter financial results for the period ended June 30, 2024, before markets open on Wednesday, Aug. 14, 2024. A conference call and audio webcast will take place the same day at 8:30 am Eastern Time.

The company's shareholders recently elected five experts as members of its board of directors during their annual meeting.

In June the company entered into a licensing agreement with Remidose Aerosols Inc. to acquire the exclusive rights for advanced cannabis products. Under that deal, Remidose customers started to be serviced through MediPharm in August, including Canadian direct-to-patient medical platforms and international medical distributors. 

In May, the company announced its financial results for the first quarter ended March 31, 2024, revealing a revenue increase of 67% to $9.8 million versus revenue for the same quarter in 2023 of $5.8 million. 

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