Cresco Labs (CSE: CL) (OTCQX: CRLBF) - Investor Dashboard


➔ Cresco Labs
CSE Ticker: CL
OTCQX Ticker: CRLBF
Market Focus: United States
Classification: Vertically Integrated
Country: United States
Employees: ~2000 as of November 2020
Established: 2013
CEO: Charles Bachtell

Summary

Fiscal Year-End: December
Auditor: Marcum LLP
Exchanges: CSE, OTCQX
Sector:  Healthcare
States: 9
Headquarters: Chicago, IL

Financials (09/30/20)

Cash on hand: $57.7 million
Fixed Investment: $180.6 million
Shareholders’ Equity: $611.8 million
Revenues – Last Quarter: $153.3 million
Adj. Gross Margin : 51.6%
EPS : -$0.03

Capital Structure (11/17/20)

Last Financing: 7.35 million units at C$10.00
Shares: 348.2 million
Warrants:  6.4 million
Options:  22.4 million
Diluted Shares: 380.0 million

Company Brief

Cresco Labs (CSE: CL) (OTCQX: CRLBF), based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis with operations in nine states, the company focuses on entering markets with outsized demand potential, significant supply constraints and high barriers to entry.

Its unparalleled speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Cresco’s proven ability to execute is complemented by a well-defined brand strategy that is tailored to all major consumer segments: everyday cannabis, medicinally focused, connoisseur grade, and chef-inspired edibles by James Beard Award-winning pastry chef Mindy Segal. The company’s growth strategy is focused on brands and distribution.

Featured Video

Cresco is set to grow significantly after having completed several acquisitions. Following the close of the Origin House acquisition, Cresco is now one of the largest wholesale distributors in California. Origin House’s indoor cultivation and production facilities will help rapidly grow access to Cresco branded products in the state.


Highlights

  • One of the largest, vertically integrated multi-state operators
  • Brands to address variant consumer groups: Remedi, Cresco, Reserve, Mindy’s, Wonder Wellness Co., High Supply, Good News, and dispensary brand Sunnyside
  • Strong medical advisory board and R&D partnerships with leading institutions and universities
  • 29 retail licenses, 19 open dispensaries and 16 production facilities
  • More than 5,000 SKUs in production
  • Operations in Illinois, Pennsylvania, Ohio, Arizona, Maryland, California, Massachusetts, New York and Michigan
  • Branded products sold through company-owned dispensaries and through wholesale; products sold in more than 830 dispensaries across the country

Growth Strategy

  • Developing operations across Ohio, New York, Michigan and Massachusetts
  • Hope Heal Health acquisition to help the company serve growing adult-use market in Massachusetts
  • Create licensing and/or distribution partnerships to expand Mindy Segal edible products
  • Growth fueled by brands and distribution
  • Marketing strategy driven by awareness and education, in-store experience, and outreach
  • Formation of hemp and CBD subsidiary WellBeings
  • Actively pursuing the acquisition of licenses and existing cannabis operations

Differentiators

  • Obtained cultivation licenses in more than one of the modern, limited license, merit-based application state programs
  • Developing a variety of products based on traditional pharmaceutical delivery systems – pills, tinctures, topical salves, transdermal patches and edible forms with a variety of cannabinoid profiles
  • One of 10 vertically integrated license holders in New York
  • Holds two of seven licenses available in Chicago’s Central District and one of six available licenses in the Southeast District
  • 630,000 square feet of potential canopy space and 10 stores in Illinois; 88,000 square feet of cultivation in Pennsylvania
  • One of the largest wholesale distributors in California following the Origin House acquisition
  • Social Equity and Education Development (SEED) initiative aims to make the cannabis space more inclusive

Building Distinct Brands That Scale


Institutional Analyst Coverage

Kenric Tyghe
ATB Capital Markets

Glenn Mattson
Ladenburg Thalmann

Russell Stanley
Beacon Securities

Vivien Azer
Cowen, Inc.

Matthew McGinley
Needham

Scott Fortune
ROTH Capital Partners

Derek Dley
Canaccord Genuity

Matthew Pallotta
Echelon Partners

Jason Zandberg
PI Financial

Andrew Partheniou
Stifel

Pablo Zuanic
Cantor Fitzgerald

Graeme Kreindler
Eight Capital

Michael S. Lavery
Piper Jaffray


Curated Stories & News


Visit Cresco Labs, Inc.
at www.crescolabs.com.

New Cannabis Ventures in partnership with due diligence platform 420Investor, is the definitive source for fact-based, data-driven, financial information and relevant company news for qualified publicly traded cannabis companies. NCV extracts and parses only the most important content. Information is provided “as is” and solely for informational purposes, not for trading or advice. Cresco Labs, Inc. is a client of NCV Media, LLC. Read our full disclaimer.