TILT Holdings - (NEO: TILT) (OTCQX: TLLTF) - Investor Dashboard
| ➔ TILT Holdings | |||||
|---|---|---|---|---|---|
| NEO Ticker: | TILT | ||||
| OTCQX Ticker: | TLLTF | ||||
| Market Focus: | United States |
| Classification: | Ancillary |
| Country: | United States |
| Employees: | 400 as of 8/2022 |
| Established: | 2018 |
| CEO: | Gary Santo |
Summary
| Fiscal Year-End: | Dec 31 |
| Exchange: | NEO, OTCQX |
| Auditor: | MGO |
| Headquarters: | Phoenix, AZ |
| MSO Operations: | 4 States |
Financials (09/30/22)
| Cash on hand: | $6.6 million |
| Fixed Assets: | $69.9 million |
| Shareholders’ Equity: | $198.7 million |
| Revenues – Last Quarter: | $40.5 million |
| Adj. Gross Margin : | 23.6% |
| EPS : | -0.04 |
Capital Structure (10/31/22)
| Last Financing: | US$35m debt with C$0.33 warrants |
| Basic Shares: | 332.0 million |
| Warrants: | 10.3 million |
| Options: | 10.2 million |
| Diluted Shares: | 409.3 million |
Company Brief
Headquartered in Phoenix, Arizona, TILT (Follow Company) is a different kind of MSO focused on B2B sales and supporting MSOs, LPs, and cannabis businesses brands worldwide through a diverse portfolio of technology, hardware, cultivation and production assets. The company spans across 36 states in the U.S., as well as Canada, Israel, Mexico, South America and the European Union.
TILT’s core businesses are in the vaporization segment focused on hardware design, research, development and manufacturing and its cannabis operations in Massachusetts, Pennsylvania and Ohio. The company has also broken ground on an operation in New York through a partnership with the Shinnecock Indian Nation.
TILT’s B2B Strategy
Highlights
- #1 seller of CCELL™ vape technology
- Plant-touching operations in Massachusetts, Pennsylvania, Ohio and New York
- Sales in 15 countries and 37 states
- 125,000 square feet of cultivation and production space
- 15+ major public and private MSO customers, 5+ major LP customers and 300 dispensaries with TILT’s branded products
- Nine signed brand partners
- Disruptive inhalation tech powers more than 700 cannabis brands throughout the world
- Avoiding commoditization by becoming specialized
Growth Strategy
- Prior investments position TILT for scale
- Funding growth through cashflow and EBITDA positive operations
- Opportunity for expansion in multiple markets through cross-selling between inhalation and plant-touching customers
- Ability to internally fund growth through cashflow and EBITDA-positive operations
- 57% of customer base offers an untapped cross-sell opportunity
- Building a 60,000-square-foot cultivation and processing facility and two-story facility in New York through a partnership with the Shinnecock Indian Nation
Differentiators
- Unique multi-state and international operator focused on B2B
- Turnkey plant-touching assets in fast-growing markets
- Leader in vape technology that is now the backbone of the inhalation industry
- 90% wholesale penetration in Pennsylvania, 60% wholesale penetration in Massachusetts and 35% wholesale penetration in Ohio
Institutional Analyst Coverage
Bobby Burleson
Canaccord Genuity
Aaron Grey, CFA, CPA
Alliance Global Partners
Jon Decourcey
Viridian
Curated Stories & News
Visit TILT Holdings, Inc.
at www.tiltholdings.com
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