GOODNESS GROWTH HLDGS INC Stock Price, News & Analysis

On August 25, 2022, Goodness Growth Holdings announced the launch of its Boundary Waters line of premium cannabis pre-rolls in Minnesota, inspired by the Boundary Waters Canoe Area Wilderness. These pre-rolls are hand-rolled from premium whole flower and come in various strains. The company emphasizes sustainability, using 57% plant-based packaging that is recyclable and biodegradable. A portion of the proceeds will support environmental preservation efforts in the Boundary Waters. The products are available exclusively at Green Goods dispensaries, with plans for future expansion pending regulatory approval.

Goodness Growth reported second quarter GAAP revenue of $21.1 million, up 48.2% year-over-year and 34.9% sequentially. Excluding former Arizona operations, revenue increased 62.7% YoY. Gross profit rose to $10.4 million with a margin of 49.2%. Operating income improved to $0.3 million, a significant turnaround from a loss of $3.2 million last year. Despite a net loss of $6.2 million, the company showed gains in sales growth, primarily in Minnesota and New Mexico, and anticipates continued momentum from recent regulatory changes.

Goodness Growth Holdings announced the launch of cannabis-infused gummies under its Vireo brand in Minnesota, effective August 1, 2022. This addition aligns with new regulations allowing certified medical cannabis patients in the state to purchase edible products. The gummies, available in 10mg THC formulations and various flavors, aim to enhance patient choices. The launch follows the successful introduction of similar products in Maryland and New York. Goodness Growth continues to focus on developing differentiated cannabis products across multiple states.

Goodness Growth Holdings, Inc. has launched its HiColor™ cannabis-infused chews in New York, available in five gourmet flavors with two formulations including THC and CBD options. The chews, designed for various cannabis consumers, are vegan, gluten-free, and use natural flavors. The products are now available through retail and wholesale channels in New York, including Vireo Health dispensaries. Following their success in Maryland, the company plans to introduce HiColor™ in Minnesota pending regulatory approval.

Goodness Growth Holdings is hosting a free cannabis expungement clinic on May 7, 2022, at its Green Goods dispensary in Baltimore. The event aims to aid residents with simple, non-violent cannabis convictions in clearing their records. Participants will receive guidance from legal professionals, including the Maryland Office of the Public Defender. The initiative addresses the ongoing disparities from the 'War on Drugs', with an estimated 200,000 cannabis convictions in Maryland eligible for expungement. Registration is required for appointments, accessible via bit.ly/baltimoreexpungement.

Goodness Growth Holdings announced the launch of the 'Green Ticket Giveaway' contest at its eight Green Goods® medical cannabis dispensaries in Minnesota. Running from May 1 to May 31, 2022, the contest will award eight registered Minnesota medical cannabis patients with $420 in store credit and a VIP tour of the cannabis cultivation greenhouse. Winners will be drawn on May 31. The initiative aims to enhance patient engagement and showcase the environmentally friendly cultivation practices of Vireo Health, a subsidiary of Goodness Growth.

Goodness Growth Holdings, a science-focused cannabis company, will take part in the Spring into Cannabis Symposium in Minneapolis on March 15, 2022. This two-day event is aimed at medical professionals and includes educational sessions on cannabis as an alternative treatment, offering up to six Continuing Medical Education (CME) credits. Keynote speaker Sherry Yafai will present alongside experts discussing recent advancements in the Minnesota Medical Cannabis Program. Attendees will also tour a cannabis cultivation facility. For more details, visit Goodness Growth's registration page.

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) reported Q4 and full-year 2021 financial results, revealing a 10.5% revenue increase to $13.7 million in Q4 and a 10.6% rise to $54.4 million for the year. Despite growth in most markets, crop losses in Arizona negatively impacted gross margin, resulting in a gross profit of $2.2 million (15.8% margin). Operating expenses rose 37.3% in Q4 to $9.2 million. Net loss for the year was $33.7 million, up from $22.9 million. The company plans to withdraw performance outlooks due to a pending acquisition by Verano Holdings Corp.

Goodness Growth Holdings has launched a comprehensive line of cannabis flower products in Minnesota's medical cannabis program, in line with new regulations that permit the sale of cannabis in its natural form. This launch, supported by legislation signed by Governor Tim Walz on May 26, 2021, aims to improve patient access to safer, state-tested cannabis. The company anticipates the move will attract new patients and enhance affordability. Over 2,000 patients made consult appointments on the first day of availability, highlighting strong demand.