Despite the setbacks, majority of the companies in the sector have shown strong resilience and they continue to thrive as major states continue to legalize adult-use and sale of cannabis.
According to a news release that was issued on Monday, March 14, 2022, the Massachusetts-based developer of indoor agriculture technologies, said that under the senior secured debt facility, $65 million will be available at closure.
In addition, the warrants, which have a term of 5.5 years, are potentially exercisable for a number of shares equal to 65% of the funding amount, divided by the closing stock price on the trading day before the definitive agreement.
The agreement also requires that Agrify should pay the interest on the loan in cash and on a quarterly basis for the first year.
In the fourth quarter, net sales were $49.2 million, up from $49.1 million in the third quarter and $49.6 million in the same period the previous year.
TerrAscend attributed the loss to a $3.3 million one-time loss in lease termination fees, $6.9 million in finance and other expenses, $6.9 million in accumulated income taxes, and $2.0 million in transaction costs, all of which were predominantly linked to the Gage Growth Corp.
In addition, the net sales also reflected the profits from the acquisition of KCR in May 2021, as well as a full year of operations at the three existing Apothecarium shops.
TerrAscend is a prominent North American cannabis company with vertically integrated operations in Pennsylvania, New Jersey, Michigan, and California, as well as licensed cultivation, processing, and production in Maryland and Canada.
The company also said that it earned $23 million in net income for the quarter and $0.35 in earnings per share.
Irrespective of these solid Q4 results, the company predicts that the first half of the year will be flat, but that the second half will pick up.
Ayr Wellness reported that if everything goes according to plan and the company receives approvals in the third quarter, the fourth quarter of 2022 may see an annualized run-rate of $250 million in Adjusted EBITDA, $100 million in operating income, and $800 million in revenue.
, a Canadian cannabis company, released its financial results for the first fiscal quarter of 2022, which ended January 31, 2022.
Geographically, $52.4 million in revenue was earned in Canada in the first quarter of 2022, $17.4 million in the United States, and $2.3 million internationally.
Our forward-thinking approach makes us a leader amongst our peer group in Canada, as we keep introducing innovative retail concepts such as our discount club model, while remaining agile and pivoting quickly when needed due to the constantly evolving dynamics in the global cannabis landscape,” said Raj Grover, President and Chief Executive Officer of High Tide.
The company plans to expand its Canadian retail store portfolio to at least 150 locations by the end of the calendar year 2022, with a major concentration on the province of Ontario.
Wholesale biomass sales, which climbed 31% over Q3 2021, were credited with driving the sequential revenue improvement, according to Glass House.
As for the full year results, Glass House said that in 2021, the company had a 44 percent rise in revenue to $69.4 million, an increase of $21.2 million.
Glass House also said that the full-year impact of the company’s Berkeley store, which opened in January 2021, generated $6.8 million in revenue during the year.
Finally, Glass House said that Looking ahead, they expects to be able to fully utilize the Phase 1 capacity of the SoCal Facility this year and next, assuming wholesale and CPG pricing stay steady.
Awakn’s breakthrough treatment protocol, established in their newly published Phase II a/b clinical trial, will be given to clients seeking therapy for Alcohol Use Disorder.
Anthony Tennyson, Awakn’s CEO, commented, “This is a very exciting moment for Awakn and for ketamine-assisted therapy overall as it starts to become a more accessible option for patients.
Mr. Lorenz will be in charge of Awakn’s therapeutics commercialization activities in the United States, beginning with the launch of its Licensing Partnership business in the second half of 2022, which is projected to generate revenue.
He formerly worked at Alkermes as a Senior Regional Sales Director, where he oversaw a team of executives and representatives responsible for Vivitrol, an FDA-approved medicine for the treatment of Alcohol Use Disorder and Opiate Use Disorder, across 32 states.
Shares of cruise company Carnival fell 2.9% by noon ET on Monday after the company confirmed that it will provide a first-quarter 2022 business update on Tuesday morning, following release of its first-quarter earnings report.
When markets turn volatile, it’s natural to look for some signal to cut through the additional noise and to clarify the stocks that are set for long-term gains.
“We have been trimming estimates across our OEM coverage, but we are raising them at Tesla on price increases more than compensating risk from volume and battery cost inflation.
But a slowing Chinese economy has caused a bit of a rethink at the higher echelons of Chinese decision-making.
Investors are wondering if the price has found a grip, or if the stock is still losing ground, especially with today’s price action prompting investors to re-evaluate their thesis.
While the warehouse club steadily expands and returns capital to shareholders via dividends , it guards and uses its cash balance carefully.
If you want to skip reading about how the commodities market has been performing so far, you can go directly to 5 Commodities Stocks That Pay Dividends.
Shares of the large crypto exchange Coinbase fell nearly 5% today after a big investor took a short position in the company, which currently has a nearly $38.5 billion market cap.
Cowen analyst Cai von Rumohr says that the move frees up cash for Lockheed to dramatically expand its share-repurchase program, estimating that each incremental $1 billion in shares repurchased would add about $0.25 per share to annual earnings.