4FRONT VENTURES CORP

In the first quarter of 2024, the cannabis sector faces a mixed economic landscape with a notable sequential decline in sales across several states. Pablo Zuanic, senior analyst of Zuanic & Associates has detailed insights into the sector's performance, particularly focusing on multi-state operators (MSOs) and their exposure across pivotal states such as Arizona, Connecticut, Florida, and others. Q1 2024 Sector-Wide Financial Highlights Overall, Q1 saw a downward trend in sales, except for a few states like Florida and Pennsylvania. The most significant sales declines were observed in Connecticut (-6%) and Illinois (-4%), with moderate decreases across Massachusetts (-3%), Ohio (-2%), and both Michigan and Maryland experiencing a -1% change. Pennsylvania, by contrast, reported a 3% increase, showing resilience amidst broader sector struggles. Each state showcased unique trends affecting both sales and market dynamics. Q1 2024 State-by-State Financial Performance And Leading Companies California: Faced a 6% year-on-year decline, adjusting to a $5 billion market size. Notable MSOs like Cresco Labs (OTC: CRLBF) and Green Thumb Industries (OTC: GTBIF) have scaled back operations, reflecting a strategic pivot within the state. Other prominent MSOs include TerrAscend (OTC: TRSSF) and 4Front Ventures (OTC: FFNTF). Michigan: A standout in the sector with a robust 24% year-on-year growth, leading to $793 million in sales for the quarter. Despite stable retail prices, the wholesale market ...Full story available on Benzinga.com

Related tickers: GTBIF, TCNNF, CURLF, CRLBF, FFNTF, VRNOF, AAWH.

In the spotlight of Viridian Capital Advisors' latest Weekly Valuation Report are 16 Tier 2 and 3 U.S. cultivation and retail cannabis companies, each boasting market capitalizations between $10 million and $200 million. This deep dive into the sector, amidst a notably quiet week for equity issues, brings to the forefront the newly available 2025 analyst consensus estimates, illuminating the evolving valuation trends within this dynamic market. The report provides an insightful examination of the financial landscape for these cannabis enterprises, offering key observations on their current and projected standings. Valuation Metrics The analysis provides a snapshot of the sector's financial health and prospects. For 2024, the median Enterprise Value (EV) to EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) ratio stands at 6.51x for the ten companies with available analyst estimates. This ratio, a key indicator of valuation, is projected to decline to 4.78x by 2025 for seven of these companies. This means that the market's valuation of these cannabis companies relative to their earnings is expected to decrease, which could be seen as them being valued more conservatively by investors or potentially becoming more financially efficient, among other factors. The report highlights a distribution of values significantly impacted by outliers such as Planet 13 (OTC: PLNHF), ...Full story available on Benzinga.com

Related tickers: FFNTF, TLLTF.