85% Of Cannabis Companies Report Positive Earnings, But Not All Are Winning - See Who's Leading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
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Source: Benzinga
Strong Performers in Q3: Green Thumb Industries and Glass House Brands excelled in the cannabis sector's Q3, ranking in the top five for key financial metrics such as adjusted EBITDA, operating cash flow, and free cash flow, while other companies like Grown Rogue and Vext Science also showed significant improvements.
Impact of Tax Strategies: The report highlighted that 85% of analyzed companies achieved positive adjusted EBITDA, aided by tax strategies that improved cash flow; however, only 15 out of 26 operators effectively converted EBITDA to cash flow, indicating challenges ahead for sustaining profitability amidst rising costs.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
