The Conversation (0)
Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Aurora Cannabis (NYSE: ACB)(TSX: ACB), and Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED).
Cannabis leaders are focusing on innovation in premium branding, global expansion, and tight operational execution in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders:
Tilray, Inc. (NASDAQ: TLRY) CEO, Brendan Kennedy: "Europe Cannabis is Next Big Growth Opportunity"
"...We are operating in an efficient manner across our entire business, global medical cannabis, Canadian adult use-cannabis and global hemp. With the completion of our significant cost reductions, we are now poised to leverage our cost structure and ensure we are one of the global winners in this industry. We have ample cash availability on our ATM to execute our strategy...With our infrastructure in place, we will continue to focus on building brands and developing products that resonate with consumers and established Tilray as the most trusted cannabis and hemp company in the world."
"...I think that we'll see possibly the entire EU legalize cannabis for medical-use over the course of the next, let's call it, 18 months...We are committed to long-term profitable growth in Europe as regulations continue to change and country markets develop...We are continuing to see increases in both the number of patients in Germany with cannabis prescriptions, as well as the number of doctors who are writing prescriptions for these patients... We believe that we are effectively building brand awareness similar to the way that we did in Canada four years ago and expect to see continued patient and revenue growth given Germany's large population base. In fact, we believe that the adoption curve in Germany is occurring at a faster pace compared to Canada during 2014 and 2015. Recently, we have seen a number of competitors either cease European operations or significantly reduced their presence there. We believe this will become a long-term strategic advantage for Tilray. The commitments we have made to the EU market with our Portugal GMP campus and regional leadership team based in Germany, position us well to continue to capture market share in Germany and more broadly in Europe..."
Tilray, Inc. (NASDAQ: TLRY ) Earnings Call Highlights: https://bit.ly/3m2MqdY
Icanic Brands (OTC: ICNAF) (CSE: ICAN) CEO Brandon Kou: " Ready to Scale with Quality Brands, and a Superior Gross Margin Profile"
Icanic Brands (OTC: ICNAF) (CSE: ICAN) was recently a featured presenter at Wall Street Reporter's "Investors Discovery Day" livestream event. ICNAF is a leader in the California market, and specifically in the pre-rolled space, with its award-winning, "Ganja Gold" brand, sold in hundreds of retail outlets. A key component of ICNAF's success is it's pre-roll manufacturing technologies which produce consistent, high-quality pre rolls at high gross margins - a major competitive advantage in the cannabis industry.
Watch ICNAF Investors Discovery Day Livestream Video: https://bit.ly/3p3t36n
In his livestream presentation, ICNAF CEO Brandon Kou outlines the company's growth strategy, based on a "three pillar approach": sales platform, technology, and vertical integration which lead to a superior gross margin profile. With a profitable foundation established, ICNAF is now at an inflection point where it's ready to start scaling revenues and expand with strategic M&A opportunities. VIDEO: https://bit.ly/3p3t36n
November 10 - Ganja Gold has been recognized by LeafLink as Fastest Growing pre-rolls in the nation. LeafLink analyzes orders between 1,700+ cannabis brands and 5,500+ retailers, in North America. The Fastest-Growing categories represent the most popular brands and products on the platform in 2020.
October 29 - ICNAF announces expansion to new facility in Concord, California, increasing manufacturing capacity for its pre-roll brands. Over the past 12 months, ICNAF has seen a significant increased demand for its pre-roll brands (Ganja Gold and Taylors) and the addition of automation equipment that has been sourced and developed to keep up with the demand requires a much larger physical manufacturing facility.
Watch ICNAF Investors Discovery Day Livestream Video: https://bit.ly/3p3t36n
Aurora Cannabis (NYSE: ACB) (TSX: ACB) CEO, Miguel Martin: "Focused on Delivering ‘Quality Revenue' through Premium Brands"
"...the consumer has demonstrated very dynamic tendencies with market share moving very quickly between brands, unlike in more stable CPG categories. This provides us with a great opening for our pivot to premium brands….Data from Canada and other mature markets indicate that premium and super premium brands have been and will continue to be successful in all formats. Therefore, Aurora has a real opportunity for a more articulated and balanced portfolio offering with a greater focus on higher margin and sustainable premium assets, such as vapes, pre-rolls and premium flower offerings across multiple price tiers....
We are also working to expand our leading concentrates and to refocus our dried flower business toward higher gross profit dollar pools...The key of course, is to ensure that in doing so we are delivering more dollars to the gross profit line versus simply just delivering low margin revenue. We are therefore much more interested in our market share within premium and super premium categories, along with our market share of categories, such as vapor, pre-rolls and concentrates that are margin accretive compared to our market share in the deep discount flower business...our intention is to generate not just revenue but quality revenue, that will deliver a healthy gross profit dollar as opposed to essentially just a gross margin percentage."
Aurora Cannabis (NYSE: ACB) Earnings Call Highlights: https://bit.ly/3lgMGWB
Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), CEO David Klein: "Momentum is Building - On Path to Profitability"
"...Momentum is building across our key businesses as our new strategy is coming to fruition. We achieved record quarterly revenue in Q2 led by our Canadian recreational business and strength across our strategic businesses, including Storz & Bickel, This Works in BioSteel...We're continuing to improve execution and agility. Our fill rates are now consistently exceeding 90%, our flower quality improvement program is generating positive results, and we've improved our new product development process to allow us to bring better products to market faster...We're accelerating our path to profitability, notably in our largest market, Canada...I'm confident that we're now firmly on a path to achieve positive adjusted EBITDA at some point next fiscal year."
"We're building a portfolio of scalable brands across cannabis and CPG. Our goal is to become a cannabis-focused CPG company. We're bringing our THC brands such as Tweed and Houseplant into the U.S. market through multi-state operator relationships or CBD line extensions. We're growing new-to-world CBD brands, such as Martha Stewart, to meet consumer needs. We're establishing routes to market with our CPG brands such as BioSteel, This Works, and Storz & Bickel. These are strong brands in their own right with distinct value propositions. Building these brands today allows us to generate revenues without the headwinds of regulatory challenges. And then, we plan to line extend these brands into CBD or even THC as regulations evolve.We will layer in additional brands over time, which will create further scale with our existing distribution networks and further build our relationships with retailers..."
Canopy Growth (NASDAQ: CGC) Earnings Call Highlights: https://bit.ly/32y4Ag1
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