IANTHUS | Accelerating operational momentum
Accelerating operational momentumAssets growth to underpin revenue growth: On the back of a solid store opening programme, we are expecting iAnthus to hit of USD100m revenues in 2019 and around USD240m in in 2020. Already in its first quarter iAnthus reported pro forma revenues of USD 18.5m, up 22% sequentially from the prior quarter and we expect growth to continue in the coming quarters. For April alone, the company reported USD8.5m pro forma revenues. At the end of the first quarter, the company was operating 14 dispensaries compared to 11 at the end of 2018. We expect the number of dispensaries to increase to 17 at the end of Q2, 27 at the end of Q3, 39 at the end of 2019 and 61 at the end of 2020. (the company has licenses to open 68 dispensaries). That store opening program should be the most important driver of revenue growth; we expect iAnthus’ monthly revenue to reach USD15m in December. Next to focusing on opening the 68 stores for which it has licenses, the company is likely to continue to look for acquisitions opportunities : to increase its presence in states like Nevada and New Mexico, next to be interested in expansion into Michigan, Philadelphia, Illinois, California and Texas.
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• Operational update : In recent weeks we have seen the CBD For Life acquisition closed and the brand is gaining customer momentum as with distribution agreements with Dillard’s, DSW, Urban Outfitters. ...
• Be. The Cannabis Store : On May 14, 2019, iAnthus announced its national retail brand "Be." ...
• MPX as a (one of its) national brand(s): After the merger with MPX, iAnthus was contemplating to replace the MPX brand given that MPX International (still an independent company) would continue as a separate brand. ...
iAnthus Capital Holdings is principally engaged in the delivery of solutions for financing, developing and managing state-licensed cannabis cultivators and dispensaries throughout the United States. Through its subsidiaies, Co. provides financing and related management and advisory services to state-licensed operators engaged in the cultivation, manufacturing and dispensing of cannabis throughout the United States, where medical and/or adult use cannabis is legal. Co. operates through the following two geographical segments: Canada and the United States of America.
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