Cannabist Stock Price, News & Analysis

The Cannabist Company has announced the launch of its Seed & Strain brand in Maryland, marking the brand's 12th market expansion. The initial product rollout includes 0.5-gram vape cartridges, available at the Columbia Care location in Chevy Chase and gLeaf locations in Frederick and Rockville. Additional products, including whole flower and pre-rolls, are pending regulatory approval and will be available in the coming months.

The brand is now present in California, Colorado, Delaware, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, Virginia, and West Virginia. This expansion aligns with Maryland's growing cannabis market and reinforces the company's commitment to providing premium and accessible cannabis products to consumers.

The Cannabist Company has expanded its partnership with Ric Flair Drip into the New Jersey market, following its successful launch in Delaware. The collaboration introduces a premium cannabis product line featuring all-in-one 1-gram vapes and vape cartridges in four flavors: Banana Belts, Mango Mania, Strawberry Strut, and Woo Watermelon. The collection also includes cannabis-infused edibles in three flavors: Flairy Cherry, Figure Four Orange, and Watermelon Wooooo.

This expansion coincides with the opening of The Cannabist Company's third dispensary in New Jersey, located in Mays Landing, demonstrating the company's commitment to expanding cannabis product accessibility. The brand, co-founded by wrestling legend Ric Flair and part of Carma HoldCo Inc., aims to deliver bold flavor profiles and exceptional quality to cannabis consumers in the Garden State.

The Cannabist Company (OTCQX: CBSTF) announced the opening of its third dispensary in New Jersey, located in Mays Landing at 4476 Black Horse Pike. The facility began serving medical cannabis patients on December 30, 2024, with adult-use sales planned for early 2025, pending regulatory approval.

The company has established a strong presence in New Jersey with a total cultivation and production capacity of 320,000 square feet, including an upgraded commercial kitchen and manufacturing space. This infrastructure supports both medical and adult-use cannabis sales, complementing existing retail locations in Deptford and Vineland, along with their wholesale program.

The Cannabist Company (CBSTF) has announced a partnership with Ric Flair Drip to launch cannabis products in Delaware, with plans to expand into additional markets in 2025. The initial product lineup includes all-in-one 1-gram vapes and vape cartridges in four flavors: Love Afflair, Mango Mania, Strawberry Strut, and Relaxed AG (exclusive cartridge). The partnership coincides with Delaware's upcoming adult-use cannabis sales launch next year. The brand, co-founded by wrestling icon Ric Flair and part of Carma HoldCo Inc., aims to leverage Flair's dynamic personality while contributing to The Cannabist Company's expanded production capacity.

The Cannabist Company (CBSTF) announced the launch of dreamt, a sleep-focused cannabis brand, in Maryland. The brand, acquired through Ciencia Labs portfolio acquisition, features unique formulations combining specific ratios of THC to CBD, along with supplements like GABA and valerian root.

The initial product offering is a gummy containing 5mg THC, 2mg CBD, and 1mg CBN, sold in 20-pack units at Columbia Care Chevy Chase and gLeaf dispensaries in Maryland, as well as through wholesale channels. The company plans to expand the brand to additional markets and introduce new products in 2025.

The Cannabist Company has announced a partnership with Flower by Edie Parker, launching their products in Virginia and Colorado. The collaboration introduces the Brand's best-selling 'Petal Puffer' all-in-one vape and vape cartridges in these markets. The company will also launch Flower by Edie Parker's cannabis-infused edibles line, 'Seedies', in Colorado and New York next week, with plans to expand to additional markets in Q1 2025, including Delaware. The Brand's smoking accessories and handbags are available at select The Cannabist Company dispensaries across the US, with Flower by Edie Parker now present in eleven states.

The Cannabist Company has announced a partnership with Veda Warrior, a New Jersey-based minority woman-owned Ayurvedic wellness brand. The collaboration launches with three cannabis-infused cooking essentials - ghee butter, olive oil, and coconut oil - available at Cannabist locations and wholesale network. A second phase will introduce nine effects-based products including five infused edibles and four infused topicals. The partnership combines Veda Warrior's holistic Ayurvedic solutions with The Cannabist Company's premium cannabis oil and infusion process. Founded in 2019, Veda Warrior emphasizes ethical sourcing and quality ingredients, marking their first venture into the cannabis industry.

The Cannabist Company has announced a partnership with COAST Cannabis Co., a woman-owned cannabis edibles company, to expand COAST's premium cannabis products into Maryland and New Jersey markets. The collaboration will introduce COAST's award-winning infused chocolates and gummies, manufactured using The Cannabist Company's premium cannabis oil. The products will feature artisanal, all-natural chocolates sourced from South America and organic, gluten-free gummies with varying cannabinoid ratios. The products will be available at gLeaf and Columbia Care locations in Maryland and Cannabist dispensaries in New Jersey, as well as through wholesale channels in both states.

The Cannabist Company reported its Q3 2024 financial results. Revenue was $114.8 million, a decrease from $125.2 million in Q2 and $129.2 million in Q3 2023. Gross profit increased to $43.8 million from $37.1 million in Q3 2023. Net loss was $1.8 million, an improvement from a $36.2 million loss in Q3 2023. The company closed significant transactions, selling assets in Arizona and Eastern Virginia for $105 million, boosting cash reserves to $31.5 million from $22 million in Q2. Adjusted EBITDA was $14.8 million, down from $17.5 million in Q2. The company continues to streamline operations, exiting unprofitable locations in Florida, Washington, D.C., and Boston. It also participated in Ohio's adult-use cannabis market, nearly doubling sales at its retail locations there. Looking ahead, the company aims for an Adjusted EBITDA margin above 20% in 2025, with growth catalysts including new retail locations in New Jersey, Virginia, and Ohio.