Cannabist Company Holdings Inc · NEO:CBST
Cannabist — The Cannabist Company — Q4 2024 Earnings Presentation
23 slides from Cannabist's earnings presentation, Mar 13, 2025
Slide 1: The Cannabist Company Investor Presentation Fourth Quarter & FY 2024
THE CANNABIST COMPANY INVESTOR PRESENTATION FOURTH QUARTER & FY 2024 Cboe CN: CBST OTCQX: CBSTF FSE: 3LP
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
The Cannabist Company Cultivating a Higher Experience The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with operations in 14 US jurisdictions. The Company operates 84 facilities
Slide 5: Company Overview By the Numbers
Company Overview By the Numbers 14 67 17 Cultivation & Manufacturing US Jurisdictions Retail Locations (1) Facilities ~2M $459M $55M Sqft Cultivation & Production FY 2024 Revenue FY 2024 Adjusted EBITDA(3) Capacity(2) 1) Includes facilities under development 2) Total capacity under existing licenses
Slide 6: A More Focused Strategic Footprint
A More Focused Strategic Footprint PENNSYLVANIA NEW YORK MASSACHUSETTS 1 3 2 8 1 2 OHIO COLORADO 2 8 NEW JERSEY 2 19 2 3 DELAWARE 1 3 MARYLAND 2 4 ILLINOIS VIRGINIA 1 2 1 6 CALIFORNIA WEST VIRGINIA 1 4 1 5 67 Retail Locations* (56 Active / 11 In Development) 17 Cultivation & Manufacturing Facilities
Slide 7: 2024 In Review
2024 In Review A Year of Transformation Simplified retail footprint, with net reduction of 27 retail locations YoY Executed corporate restructuring to align with focused footprint, generated $23M in annualized savings in 2024 Increased emphasis on wholesale growth, with wholesale revenue up 11% over
Slide 8: Optimizing the Retail Portfolio
Optimizing the Retail Portfolio 56 active retail locations across 12 markets In 2024: March: Sold 1 location in Utah June: Closed 2 retail locations in New York, 1 in Colorado and 1 in Washington, DC; Opened Cannabist Richmond, Virginia August: Sold 6 locations in Eastern Virginia & 2 in Arizona Oct
Slide 9: 2025 Mandate
2025 Mandate Finalize Simplification of Portfolio Simplification & Optimization Complete divestitures, reduce operating and overhead costs to align with more focused footprint Continued Optimization of Assets Refine inventory assortment, limited CAPEX spend prioritizing retail locations in key marke
Slide 10: Multiple Catalysts In Key Growth Markets
Multiple Catalysts In Key Growth Markets Optimization of canopy capacity in Leveraging low-cost production in New York Vineland with wholesale growth & expected to accelerate margin expansion and opening of 1 retail location in New scale adult-use market share via wholesale Jersey to reach maximum o
Slide 11: Embedded Upside in Transitioning Growth Markets
Embedded Upside in Transitioning Growth Markets Ohio Market Updates • In November 2023, voters approved Issue 2, paving the way for adult-use sales, which began August 6, 2024 $200M+ Delaware Market Updates • New regulations remove all penalties for use or possession of up to 1 • Adult use sales beg
Slide 12: Scaled Cultivation & Manufacturing Footprint
Scaled Cultivation & Manufacturing Footprint Market Facility Count Total Size (sqft) Status California 1 45,572 Operational Colorado 2 108,227 Operational Delaware 1 20,000 Operational Illinois 1 32,802 Operational Maryland 2 59,040 Operational Massachusetts 1 38,890 Operational New Jersey 2 320,724
Slide 13: Financial Results Q4 & FY 2024
Financial Results Q4 & FY 2024
Slide 14: Top Performing Markets
Top Performing Markets Fourth Quarter 2024 Revenue Adj. Gross Margin Adj. EBITDA Adj. Adj. EBITDA EBITDA Margin Margin $ % $ % Colorado Delaware Maryland Delaware Maryland New Jersey New Jersey New Jersey New Jersey New York New York New York Ohio Virginia Ohio Ohio Virginia West Virginia Virginia V
Slide 15: Financial Snapshot
15 Title Here Financial Snapshot Fourth Quarter & FY 2024 (in US$ thousands) FY 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Revenue 458,722 122,611 125,190 114,783 96,138 Adjusted EBITDA 54,711 15,304 17,475 14,815 7,054 Interest Expense 37,978 9,034 9,716 9,744 9,484 Capital Expenditure 5,831 965 1,664 1,
Slide 16: Financial Results Full Year 2024
16 Title Here Financial Results Full Year 2024 TABLE 1 - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in US $ thousands, except share and per share figures, unaudited) Three Months Ended Full Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Revenue $ 96,138 $ 12
Slide 17: Financial Results Full Year 2024
17 Title Here Financial Results Full Year 2024 TABLE 2 - CONDENSED CONSOLIDATED BALANCE SHEET (SELECT ITEMS) (in US $ thousands, unaudited) Three Months Ended Full Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Cash $ 33,607 $ 35,764 $ 33,607 $ 35,764 Total curren
Slide 18: Financial Results Full Year 2024
18 Title Here Financial Results Full Year 2024 TABLE 4 - RECONCILIATION OF US GAAP TO NON-GAAP MEASURES (in US $ thousands, unaudited) Three Months Ended Full Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income (loss) $ (55,152) $ (72,498) $ (105,126) $ (174
Slide 19: Brands & Innovation
Brands & Innovation Vy oy | antl CANNABIST
Slide 20: Our House Brands
Our House Brands Optimized house brand strategy delivering targeted consumer solutions through a simplified portfolio of flower, pre-rolls, concentrates, vapes, edibles and tinctures. • FPO
Slide 21: Award-Winning Products & Services
21 Award-Winning Products & Services 2022 2023 2024 High Times Cannabis Cup California Errl Cup Errl Cup Sativa Flower 2nd Place: Triple 7, Super Boof Isolate Category 1st Place: Amber, Dat Flava Diamond Dust Isolate Category 1st Place: Amber, Cake Crasher Live Resin Diamond Dust Indica Flower 3rd P
Slide 22: 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 23: Thank You
Thank You
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