Articles written by Jelena Martinovic

Medical Marijuana Footprint Grows In Florida As Legalization Push Fizzles, And Other New Cannabis Stores

RISE Dispensaries, a cannabis retail chain owned by Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), opened RISE Dispensary Orlando on Good Homes Road on Friday, Nov. 8. Located at 725 Good Homes Road, the new West Orlando location expanded RISE Dispensaries' retail footprint in Florida to 21 locations and 99 nationwide. Cannabis giant Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) opened a new medical dispensary in Miami, Florida in October. Curaleaf Miami Bird Road, located at 8868 SW Bird Rd. in Miami, brought the company's Florida store count to 66 locations, with 151 dispensaries total nationwide.Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), one of the biggest supporters of Amendment 3 which was rejected by Florida voters earlier this month and would have legalized recreational cannabis in the Sunshine State, additionally expanded its already substantial retail footprint statewide.

Cannabis Co. Grown Rogue Reports 7% Increase In Q3 Revenue, Focuses On New Jersey And Illinois Expansion

Cannabis company Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) reported on Thursday its third quarter 2024 results for the three months ended Sept. 30, 2024. "This was another exciting quarter for Grown Rogue with solid financial metrics showing the continued execution by our team in competitive markets against a backdrop of modest price compression," Obie Strickler, CEO of Grown Rogue, said. "We continue to see strong indoor production yields of craft-quality flower, retail buyer and consumer loyalty, and great initial reception and sell-through with our branded pre-rolls, including our newest brand Yeti".

C21 Reports Q2 Revenue Up 14% QoQ, South Reno Cannabis Dispensary Sees 53% Sales Growth

Vertically integrated cannabis company C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) announced on Thursday interim unaudited financial statements and management discussion and analysis for its second quarter ending Sept. 30, 2024. "We are pleased with the strong performance and positive customer reception of our new dispensary during its first quarter of operations," Sonny Newman, CEO and president, said. "These results have exceeded our expectations and we continue to see robust sales growth into the new quarter."

Canadian Cannabis Producer Rubicon Reports Record Q3 Revenue Of $13.5M, 34% YoY Growth

Cannabis producer Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) reported on Wednesday its third quarter financial results for the three months ended Sept. 30, 2024. The Vancouver, British Columbia-based company achieved a record net revenue of CA$13.5 million ($9.6 million) for the quarter, representing a 34% increase year-over-year. "Rubicon Organics continues to innovate and expand our product offerings, solidifying a strong market share in premium flower, pre-rolls, edibles, and more," Janis Risbin, the company's CFO, said. "I'm particularly proud of the success of our 2024 vape launch, which has already achieved 55% distribution in just six months. Looking ahead, we expect to drive further growth in Canada and beyond, as we intend for new market entry in 2025."

Cannabis Co. Vireo Reports 2% YoY Revenue Growth, Secures $10M In Financing

Vireo Growth Inc., formerly known as Goodness Growth Holdings, (CSE: VREO) (OTCQX: VREOF) reported on Wednesday financial results for its third quarter ended Sept. 30, 2024. "Our third quarter results reflect continued solid performance across our core markets, but as we discussed anticipating last quarter, year-over-year comparisons of financial performance are less significant now that we have passed the one-year anniversary of the launch of adult-use sales in Maryland," Amber Shimpa, the company's CEO, said. "Our teams continue to focus on preparing for the launch of adult-use sales in Minnesota next year, and our recently announced $10.0 million financing commitment gives us additional flexibility to support this launch and continue executing our CREAM & Fire strategy."

California Cannabis Co. Gold Flora: 241% QoQ Growth In Adjusted EBITDA, Narrows Net Loss By 21%

Vertically integrated California cannabis company Gold Flora Corporation (CBOE: GRAM) (OTCQB: GRAM) announced on Thursday its financial results for the third quarter of fiscal 2024."Amid the ongoing challenges facing the broader industry, we've made significant strides in positioning ourselves for long-term success," Laurie Holcomb, the company's CEO and chairman, said. "We have strengthened our balance sheet through a capital raise, continued scaling the highly successful Gramlin brand, and have further optimized our vertically integrated operations to support our growth initiatives."

Canopy Growth Acquisition Target Acreage Reports 30% YoY Decline In Q3, Record Cannabis Wholesale Revenue In NY

Vertically integrated cannabis multi-state operator Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF) reported on Thursday its financial results for the third quarter ended Sept. 30, 2024. "In the third quarter, we continued to focus on re-accelerating growth across our core states, including Connecticut, Illinois, and New Jersey, while also executing on the highly anticipated launch of non-medical sales in Ohio," Dennis Curran, the company's CEO, said. "With our strengthened financial position, we have bolstered our capacity to pursue opportunities in these markets as they continue to mature, which is expected to play a pivotal role in driving both revenue generation and improvements in Adjusted EBITDA as we close out 2024."

California Weed Co. Glass House Brands Reports 32% YoY Q3 Revenue Growth (UPDATED)

Vertically integrated cannabis companies Glass House Brands Inc. (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF) reported on Wednesday financial results for the third quarter ended Sept. 30, 2024. The company is focused on strategic growth initiatives, including expanding production capacity, improving cost efficiency and positioning itself to weather challenges in the California cannabis market. However, retail pricing pressures may continue to affect margins in the near term. "While we expect lower prices to continue in the short-term, longer-term we expect Glass House will benefit, as our Company is built to weather market cycles and emerge even stronger," Kyle Kazan, co-founder, chairman and CEO of Glass House, said.

Trump Says His Secretary Of State Pick Marco Rubio Is 'Powerful Voice For Freedom' – But What About Cannabis?

Florida GOP Senator Marco Rubio is President-elect Donald Trump's pick for the role of United States Secretary of State.Trump praised Rubio (53) as a "highly respected leader" and a "powerful voice for freedom." But, will he be that open-minded when it comes to cannabis policy reform? Judging by his earlier stance, what's left for cannabis shareholders and advocates, is hope.

IM Cannabis: 66% Revenue Growth In Germany, Narrows EBITDA Loss In Q3

International medical cannabis company IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) announced on Thursday its financial results for the third quarter ended Sept. 30, 2024. The company reported revenue from Germany grew 66% year-over-year, reaching CA$5.8 million ($4.1 million). "While the 66% growth we delivered in Germany, to reach $5.8M this quarter is a highlight, we spent the quarter focused on building a solid foundation for 2025," Oren Shuster, the company's CEO, said. "Our goal was to build a strong, consistent supply chain, along with a laser focus on how to improve the efficiency and accuracy of how we use our resources. I believe that the foundation we built this quarter will be the basis we will use to deliver in 2025."

CBD Pharma Co. MediPharm: 37% Increase In Q3 International Sales, 15% YoY Revenue Growth

CBD-based pharmaceutical company MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) announced on Thursday its third quarter financial results for the three months ended Sept. 30, 2024."Q3 2024 was a major step in the right direction towards profitability," Greg Hunter, the company's CFO, said. "Paying off our debt and rationalizing facilities, pursuing cost efficiencies while growing our higher margin international revenues are all critical elements to position us for long-term sustainable growth."

Cannabis REIT NewLake: 9.3% YoY Q3 Revenue Growth Despite Tenant Challenges, CEO Optimistic

NewLake Capital Partners, Inc. (OCTQX: NLCP) announced on Wednesday its financial results for the third quarter ended Sept. 30, 2024.NewLake Capital Partners, Inc. (OCTQX: NLCP) announced on Wednesday its financial results for the third quarter ended Sept. 30, 2024. The New Canaan, Connecticut-based company said third-quarter revenue totaled $12.6 million, representing an increase of 9.3% year-over-year.Anthony Coniglio, NewLake's president and CEO, called quarterly financial results solid. He is optimistic regarding cannabis prospects under the new Donald Trump administration.

CBD Pioneer Charlotte's Web Narrows Loss In Q3, Focuses On Long-Term Growth

Charlotte's Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) a producer of hemp-derived CBD and other botanical wellness products, reported on Thursday financial results for the third quarter ended Sept. 30, 2024. CEO of Charlotte's Web," Bill Morachnick, CEO of Charlotte's Web, said. "We've seen positive impacts from our e-commerce platform upgrades, recent product launches, and additional retailers, highlighted by our new partnership with Walmart that brings our CBD topicals to another 827 stores."

Trump's Appointment Of Kristi Noem To Homeland Security Chief Raises Questions About Fed Cannabis Policy

Donald Trump selected South Dakota Governor Kristi Noem to serve as his secretary for the Department of Homeland Security. Noem will oversee Trump's border policies, including the key campaign pledge of "mass deportations." Over the years she signed into law a myriad of bills aimed at polishing up the state's medical cannabis program.

Cannabis Delivery Giant Eaze Rises From Ashes: How $10M Funding Could Power Its Comeback

California's largest cannabis delivery service Eaze is making a comeback.Eaze Technologies Inc., which recently announced it will be ceasing operation by the year will be reorganized as Eaze Inc..The company announced on Tuesday $10 million in series B funding following the acquisition of select assets from Eaze Technologies.

Wu-Tang's Raekwon And Charlamagne Tha God Celebrate Hashstoria Dispensary Opening In Downtown Newark

Hashstoria cannabis dispensary is slated to host the official grand opening celebration in downtown Newark, New Jersey.Located at 799-805 Broad Street in the historic Four Corners district, the dispensary is organizing a full-day event on Nov.13. The event will feature appearances by Raekwon the Chef, Charlamagne Tha God, Bakari Sellers and local officials.

Ascend Wellness' 20.1% Wholesale Growth, Wider Net Loss In Q3

Ascend Wellness reported Q3 revenue amounted to $141.6 million, up 0.3% year-over-year and 0.1% quarter-over-quarter. Q3 net loss was $28.3 million, compared to a net loss of $11.2 million in the third quarter of 2023 and $21.8 million in the prior period. It also initiated cost-saving measures to reduce expenditures by $30 million in 2025.

Cronos Cannabis Co. Reports 38% YOY Increase In Q3 Revenue, Boosts International Sales

Cronos' Q3 net revenue totaled $34.3 million, up by $9.5 million year-over-year. Q3 net income totaled $7.3 million compared to a net loss of $1.6 million in the prior year's period. The company has set an operating expense savings target of $5 to $10 million for 2024,

Cannabis Vape Co. Ispire Grows Abroad As US Sales Decline Slows Q1 Revenue

Ispire Technology Inc. (NASDAQ: ISPR), a company with a focus on innovations in vaping technology and precision dosing, reported on Monday first quarter 2025 results for the period ended on Sept. 30, 2024. Revenue totaled $39.3 million, representing a decrease of 8.2% year-over-year to $42.9 million due to lower U.S. product sales (by $8.1 million year-over-year), partially offset by growth in Europe and other regions (notably South Africa). Gross profit increased by 13.2% to $7.7 million from $6.8 million, with gross margin improving to 19.5% from 16%, driven by a shift toward higher-margin products. Net loss amounted to $5.6 million ($0.10 per share), compared to a net loss of $1.3 million ($0.02 per share) in the prior year's period.

Medical Marijuana Shop Closes Down In South Dakota, What Went Wrong?

The first store in South Dakota that kicked off medical cannabis sales in 2022 is closing its door to customers.Unity Rd. store, located at 404 West Opal Lane in the Sioux Falls suburb of Hartford, was opened on July 27, 2022.The store's closing follows South Dakota voters' rejection of Measure 29 this past Tuesday.

Jelena Martinovic

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga