Vireo Growth Inc · CSE:VREO
Vireo Growth — Goodness Growth Holdings — Q4 2023 Earnings Presentation
15 slides from Vireo Growth's earnings presentation, Apr 1, 2024
Slide 1: 4Q23 Results Call
4Q23 Results Call April 1, 2024 CSE: GDNS OTCQX: GDNSF
Slide 2: Forward Looking Statement Disclaimer
Forward Looking Statement Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This presentation includes information, statements, beliefs, and opinions which are forward-looking, and which reflect current estimates, expectations, and projections about future events, referred to herein
Slide 3: Fiscal Year 2023 Business Highlights
Fiscal Year 2023 Business Highlights 2023 was a transformational year and we are entering fiscal year 2024 in a much stronger position to drive profitable growth and generate cash from operations • Decentralized reorganization initiatives were successful • We infused the organization with “mature-ma
Slide 4: Year of CREAM & Fire: Strong Execution Against Strategic Objectives
Year of CREAM & Fire → Strong Execution Against Strategic Objectives Heatmap / SG&A % of Sales FINANCIAL OBJECTIVES Trajectory • CREAM (Cash Rules Everything Around Me) → Focus on 45.3% 39.0% 39.9% building a valuable long-term business as defined by the 37.5% ability to generate and grow cash flow
Slide 5: Core Market Key Performance Indicators (KPIs)
Core Market Key Performance Indicators (KPIs)1 Formed “Weed Hustle Office” in early 2023 comprised of our state leaders and third-party partners -- focused on driving improvements in several core market key performance indicators 4Q22 1Q23 2Q23 3Q23 4Q23 FY22 FY23 Inventory Turns Total Flower Harves
Slide 6: 2023 Product & Brand Highlights
2023 Product & Brand Highlights 6
Slide 7: 2023 Product & Brand Highlights
2023 Product & Brand Highlights 7
Slide 8: Core Market Updates
Core Market Updates MINNESOTA NEW YORK MARYLAND Baltimore Moorhead 3 Albany Frederick Massey Hermantown / Duluth Johnstown Minneapolis, Bloomington, Hurlock Otsego 5 Blaine, Burnsville, Woodbury Binghamton White Plains Rochester Home Delivery Queens • Cannabis became legal in Minnesota on August 1,
Slide 9: Core Market Revenue Performance
Core Market Revenue Performance1 Q4 Sequential Q4 YoY FY 2023 4Q23 3Q23 %∆ 4Q23 4Q22 %∆ FY23 FY22 %∆ Total Retail: $19,858,893 $20,147,074 (1) $19,858,893 $15,230,064 30 $71,656,581 $56,082,510 28 Minnesota $11,182,332 $11,791,001 (5) $11,182,332 $10,622,384 5 $45,171,621 $37,461,646 21 New York $2,
Slide 10: Summary Financials
Summary Financials Q4 and FY23 results reflect continued revenue growth with strong early performance in Maryland’s adult-use market and benefits of recent operational improvement initiatives Summary of Key Financial Metrics Three Months Ended Year Ended US $ in millions December 31, December 31, 20
Slide 11: Balance Sheet & Liquidity Update
Balance Sheet & Liquidity Update December 31, 2023 December 31, 2022 • Convertible loan facility closed during the Cash $15,964,665 $15,149,333 second quarter gave us needed financial flexibility to execute our plan for the year Total Current Assets $148,730,280 $46,728,741 following Verano’s wrongf
Slide 12: Summary of Debt Outstanding as of April 1, 2024
Summary of Debt Outstanding as of April 1, 2024 Principal Amount Maturity Dates Notes ● Prime + 10.375% paid monthly in cash ● 2.75% PIK Green Ivy Credit Facility $60,088,461 30-Apr-24 ● $4.3M related to Baltimore dispensary acqusition due November 2024 ● Potential to extend maturity to 1/31/26 thro
Slide 13: Capitalization Table
Capitalization Table Goodness Growth Holdings Capitalization Table FD Treasury Method Shares Outstanding (@ stock price of US $0.4113) 232,816,920 Stock Price @ 3/29/24 US $0.4113 Market Cap ($ USD) $95.8M Balance Sheet as of 12/31/23: Cash Balance $16.0M Principal Long-Term Debt $60.2M Lease Liabil
Slide 14: EBITDA Reconciliation
EBITDA Reconciliation Three Months Ended Year Ended December 31, December 31, 2023 2022 2023 2022 Net income (loss) $ (4,582,837) $ (13,283,798) (25,547,089) (42,457,444) Interest expense, net 8,465,556 7,120,667 31,260,798 22,593,552 Income taxes 988,129 5,948,000 7,723,000 5,893,000 Depreciation &
Slide 15: Contact Information
Contact Information Sam Gibbons O: 612-314-8995 E: sam.gibbons@alpha-ir.com CSE: GDNS OTCQX: GDNSF
Goodness Growth Holdings — Q4 2023 Earnings Presentation on 6ix