Cannabist Company Holdings Inc · NEO:CBST
Cannabist — The Cannabist Company — Q3 2024 Earnings Presentation
35 slides from Cannabist's earnings presentation, Nov 7, 2024
Slide 1: The Cannabist Company Investor Presentation Third Quarter 2024
THE CANNABIST COMPANY INVESTOR PRESENTATION THIRD QUARTER 2024
Slide 2: Disclaimer and Forward-Looking Statements
2 Disclaimer and Forward-Looking Statements Disclaimer The Cannabist Company Holdings Inc. (the “Company” or “The Cannabist Company”) derives a substantial portion of its revenues from the cannabis industry in certain U.S. states, which industry is illegal under U.S. federal Law. The Cannabist Compa
Slide 3: Disclaimer and Forward-Looking Statements
3 Disclaimer and Forward-Looking Statements Caution Concerning Forward-Looking Statements This presentation contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning The Cannabist Com
Slide 4: The Cannabist Company At a Glance
The Cannabist Company At a Glance
Slide 5: Who We Are
Who We Are Cultivating a Higher Experience The Cannabist Company, formerly known as Columbia Care, one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with operations in 14 US jurisdictions. The Company operates 91 facilities including 71 d
Slide 6: Company Overview By the Numbers
Company Overview By the Numbers 14 71 20 Cultivation & Manufacturing US Jurisdictions Retail Locations (1) Facilities (1,2) +2M $115M $14.8M Sqft Cultivation & Production Q3 2024 Revenue Q3 2024 Adjusted EBITDA(3) Capacity(1) 1) Includes facilities under development 2) Total capacity under existing
Slide 7: Strategic Footprint On A National Scale
Strategic Footprint On A National Scale PENNSYLVANIA NEW YORK MASSACHUSETTS 1 3 2 8 1 2 OHIO COLORADO 2 8 NEW JERSEY 2 22 $33B 2 3 DELAWARE 2 3 MARYLAND 2028 TAM in Licensed ILLINOIS WEST VIRGINIA 2 4 US States(1) 1 2 1 5 WASHINGTON DC 1 CALIFORNIA FLORIDA 1 5 1 VIRGINIA 1 6 71 Retail Locations* (59
Slide 8: Strategically Positioned MSO
Strategically Positioned MSO The Cannabist Company US Footprint The Cannabist Company Addressable Market(1) Pursuit ActivityMedical Only Adult Use Anticipated State Population (M) Est 2024 Sales (US$M) Est 2028 Sales (US$M) Status Licenses Adult Use & Medical California 39.0 $ 5,160.7 $ 6,104.8 AU &
Slide 9: Revenue and Retail Footprint
Revenue and Retail Footprint 74 active retail locations, 12 locations in development In Q3 2024: $140.0 $133 • Wholesale revenue increased 2% QoQ $130 $129 $129 $128 $126 $125 $125 $123 $123 • Wholesale revenue represented 17% of total revenue in Q3, $120.0 $115 up from 15% in Q2 2024; continued eff
Slide 10: Profitability Trends By Market Third Quarter 2024
Profitability Trends By Market Third Quarter 2024 Top 5 Markets by Revenue Top 5 Markets by Adj. Gross Margin(1) Top 5 Markets by Adj. EBITDA(1) Top 5 Markets by Adj. EBITDA Margin(1) Colorado Arizona Colorado Delaware Maryland Delaware Maryland New Jersey New Jersey Ohio New Jersey Ohio Ohio Virgin
Slide 11: Multiple Catalysts Driving Profitability Growth
Multiple Catalysts Driving Profitability Growth Optimization of canopy capacity in Leveraging low-cost production in New York Vineland with wholesale growth & adding expected to accelerate margin expansion and 1 retail location in New Jersey to reach scale adult-use market share via wholesale maximu
Slide 12: Embedded Upside in Transitioning Growth Markets
Embedded Upside in Transitioning Growth Markets Ohio Market Updates Delaware Market Updates • In November 2023, voters approved Issue 2, paving the way for adult-use sales, which began August 6, 2024 $200M+ • New regulations remove all penalties for use or possession of up to 1 ounce of cannabis and
Slide 13: Scaled Cultivation & Manufacturing Footprint
Scaled Cultivation & Manufacturing Footprint Jurisdiction Facility Count Total Size (sqft) Status California 1 45,572 Operational Colorado 2 108,227 Operational 20,000 Operational Delaware 2 37,524 Under development Florida 1 40,000 Pending Divestiture Illinois 1 32,802 Operational Maryland 2 59,040
Slide 14: Financial Highlights Q3 2024
Financial Highlights Q3 2024
Slide 15: Business Highlights Third Quarter 2024
Business Highlights Third Quarter 2024 1 2 3 4 Launch of adult use in Ohio, Quarter-end cash balance of Revenue of $114.8 million in Wholesale revenue grew 2% which saw largest increase in $31.5M; capital expenditures Q3; Adj. EBITDA margin of over Q2; impact of revenue QoQ as volume nearly during t
Slide 16: Financial Performance Third Quarter 2024
16 Title Here Financial Performance Third Quarter 2024 (in US$ thousands) FY 2023A Q4 2023A Q1 2024A Q2 2024A Q3 2024A P&L / Cash Flow Revenue 511,327 128,365 122,611 125,190 114,783 Adjusted EBITDA(1) 69,645 12,472 15,304 17,537 14,815 Interest Expense 50,687 11,917 9,974 10,611 9,744 Capital Expen
Slide 17: Capital Allocation Priorities
Capital Allocation Priorities Financial Highlights Invest in Organic Growth CAPEX prioritization of retail locations in high- growth markets, improved production Committed to disciplined capital allocation, capabilities, investment in high ROI continued debt reduction, improved cash flow technology
Slide 18: Strategic Footprint Cannabist Markets
Strategic Footprint Cannabist Markets
Slide 19: California, Colorado, Delaware
California $6B+ Projected TAM(1) • Adult-use & Medical • Unlimited License Market Cannabist Footprint 5 Retail Locations 1 Cultivation & Production Facility 45,572 sqft Total Cultivation Capacity Colorado Delaware $200M+ $1B+ Projected TAM(1) Projected TAM(1) • Adult-use & Medical • Medical Only, ad
Slide 20: Florida, Illinois, Maryland, Massachusetts
Florida $4B+ Illinois $2B+ Projected TAM(1) Projected TAM(1) • Medical Only • Adult-use & Medical • Limited License Market • Limited License Market • Pending Divestiture of remaining cultivation facility Cannabist Footprint Cannabist Footprint 2 Retail Locations 1 Cultivation & Production Facilities
Slide 21: New Jersey, New York, Ohio, Pennsylvania
New Jersey $3B+ New York $5B+ Projected TAM(1) Projected TAM(1) • Adult-use & Medical • Adult-use & Medical • Limited License Market • Limited License Market Cannabist Footprint Cannabist Footprint 3 Retail Locations (1 in development) 8 Retail Locations (6 in development) 2 Cultivation & Production
Slide 22: Virginia, Washington D.C., West Virginia
Virginia $3B+ Washington D.C. $40M Projected TAM(1) Projected TAM(1) • Medical Only, adult-use • Medical Only anticipated • Limited License Market • Limited License Market • Pending divestiture Cannabist Footprint Cannabist Footprint 6 Retail Locations (1 in development) 1 Cultivation & Production F
Slide 23: Product Portfolio
Product Portfolio Recognize us.
Slide 24: Brands & Innovation
Brands & Innovation Vy oy | antl CANNABIST VI at |NABIST
Slide 25: Cannabist Retail Brand
Early Insights Cannabist Rebrand Impact Cannabist Retail Brand Villa Park, IL Case Study(1) Revitalizing the Retail Experience • +15% increase in revenue • +19% increase in number of transactions The Cannabist retail storefront experience is centered on making • Top 3 all-time highest weekly sales s
Slide 26: Seed & Strain
Seed & Strain Category: Flower, Vapes Rooted in Land & Harvested by Hand We believe in the naturally restorative properties of cannabis and we proudly propagate that belief by sharing our bounty of flower with you. Upscale yet accessible, Seed & Strain is the most widely distributed brand across the
Slide 27: Triple Seven
Triple Seven Category: Flower Cannabis, Connected Our Cannabis is at the uppermost end of the quality spectrum, and our strains are unwavering in consistency. We’ve gone above and beyond the highest industry standards to cultivate the best strains that deliver every time. Our ultra-premium brand has
Slide 28: Classix
Classix Category: Flower Amplify Today Classix is our every day, timeless lifestyle brand that celebrates incredible cannabis moments shared with friends. Now available in all markets where the Cannabist Company is located, Classix successfully launched in 5 markets (AZ, MA, IL, DE, & NJ), and repre
Slide 29: Hedy
Hedy Category: Edibles Goodness in every dose Whichever path you choose, it’s always an exhilarating one. With HEDY the sky's the limit. Infused with Azuca fast-acting TiME INFUSION , allowing high- quality cannabinoids to take effect in a groundbreaking, consistent, and predictable two to fifteen m
Slide 30: Amber
Amber Category: Concentrates, Vapes Formulations crafted by connoisseurs. Vibes crafted by you Additional products launched in multiple markets during Q4 2022, including AMBER Diamonds, Cured Crumble, Diamond Sauce, Live Resin and Shatter. AMBER has won multiple awards, including 1st Place in the Er
Slide 31: Press 2.0
Press 2.0 Category: Edibles Ready to fine tune your day? High potency and high quality aren’t mutually exclusive. Take control of your cannabis with hard pressed THC tablets formulated by industry experts for morning, day and night. The choice is yours. The pleasure is ours. PRESS 2.0 was created as
Slide 32: Forage
Forage A retail platform built for continuous innovation How do you want to feel today? Technology and efficiency innovation will continue to heighten the in-store and at-home shopping experience at Cannabist and create an all-encompassing ecosystem from home to dispensary and online. Forage is our
Slide 33: Stash Cash
Stash Cash Cannabis Rewarded Earn rewards for enjoying cannabis. It doesn’t get any simpler than that. Build your stash, save your cash Stash Cash app offers a streamlined shopping experience to build and track loyalty rewards, shop from anywhere and discover new products. The Stash Cash app is a pl
Slide 34: Award-Winning Products & Services
34 Award-Winning Products & Services 2022 2023 2024 High Times Cannabis Cup California Errl Cup Sativa Flower 2nd Place: Triple 7, Super Boof Isolate Category 1st Place: Amber, Dat Flava Diamond Dust Indica Flower 3rd Place: Triple 7, Pancakes #7 Sun Grown Flower 1st Place: Classix, Ice Cream Cake E
Slide 35: Thank You
Thank You
The Cannabist Company — Q3 2024 Earnings Presentation on 6ix