Florida Tracker with Revenue Estimates
We have added estimated revenues for each company operating in Florida for calendar 2021 and the current reporting quarter. This is based on the average price of CBD and THC products in the entire state. Therefore, the estimates may vary for companies selling products at an average price higher or lower than the Florida average. The % Change QoQ and % Change YoY provide an approximate gauge for a company's growth in the state. For companies with a high percentage of their assets concentrated in Florida, such as Ayr, Trulieve, and Surterra, the tracker provides a fairly accurate gauge for how the overall company's top line is performing in the current quarter (in the state of Florida).
The overall state had a slower week than last, with THC sales down 12% and CBD sales down 17%. This comes in contrast to patient growth which has been consistently increasing sequentially, with an increase of .46% since last week. Curaleaf and Ayr continue to expand in terms of market share while Trulieve, Verano, and iAnthus contract. Based on the new data points added, Trulieve, Verano, and Curaleaf all have the largest revenue per store, with MedMen and Green Thumb with the lowest. Columbia Care and Curaleaf are showing the greatest sequential growth in terms of revenues. This past week, Trulieve and VidaCann each added one dispensary location in the state.
Georgia License Lottery
A total of 96 companies applied to be able to manufacture medical marijuana oil. On July 24th, six companies won the lottery to receive licenses to manufacture these oils. The commission scored each business based on criteria set by the cannabis oil production program in 2019. The highest-scoring companies won the licenses. Both Botanical Sciences LLC and Trulieve were awarded Class 1 production licenses, which will allow both companies to use more than 100,000 sq. Ft. for growing space. Four other companies were chosen for Class 2 licenses which allow for 50,000 Sq. Ft. of growing space. “It’s a great day for Georgians who need access to low-THC oil and their families who have advocated a quality of life for their loved ones,” said Dr. Christopher Edwards, chair of the commission. For background, Georgia passed Bill 324 in 2015, which allowed patients access to medical cannabis oil with no more than 5% THC. Until now, patients have obtained low THC oil illegally, either through an informal network of patients or by traveling to other states to buy it.
Canada Beverage Restrictions
Health Canada's calculations 'feel like a mistake for anyone specifically focused only on cannabis beverages; it's particularly challenging.' says the beverage producer, Molecule in Canada. Since Canadians can only carry 30 grams of cannabis out of a store, it's illegal to sell more than five 350 ml drinks at a time — frustratingly shy, he said, of the six-pack, many consumers are accustomed to buying. With the current regulations, a customer could walk out of a store with 100 bottles of cannabis oil spray, but only a 5-pack of cannabis beverages, short of the 6-packs individuals are used to. "Health Canada is now actively considering the input received from a broad range of stakeholders and individuals during these consultations," a spokesperson told CBC News by email.
