fbpx
QQQ
+ 0.71
289.67
+ 0.24%
DIA
+ 3.89
288.63
+ 1.33%
SPY
+ 2.74
352.61
+ 0.77%
TLT
-1.09
162.60
-0.67%
GLD
-3.22
178.97
-1.83%

TILT Expects Revenue Of $41M, Confirms Leadership Changes

October 29, 2020 10:30 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

TILT Holdings Inc. (CSE:TILT) (OTCQB:TLLTF) revealed Wednesday its revenue for the third quarter may reach $41 million. That’s a sequential increase between 4% and 6%.

According to its preliminary earnings report, adjusted EBITDA would be between $2.5 and $3 million. Moreover, it’s the third consecutive quarter of positive adjusted EBITDA for the Phoenix-based company.

Meantime, operational highlights from the report are related to its core businesses and include: Jupiter Research LLC’s new monthly record for total cartridges shipped in September; expansion of Standard Farms LLC’s product offering in Pennsylvania, and a sequential increase of 31% at Commonwealth Alternative Care Inc., Massachusetts.

Meantime, the company also opted to promote Gary Santo to the role of the company’s President and current interim CFO Brad Hoch to the CFO position.

Mark Scatterday, TILT’s CEO, said he looks forward to working alongside Santo and help him “drive growth opportunities across our portfolio, and in particular, across our plant-touching assets, which include Commonwealth Alternative Care and Standard Farms.”

In addition, over the quarter, the company’s board welcomed Dia Simms, a protégé of entertainer Sean Combs and former President of Combs Enterprises.

Courtesy image


Related Articles

Australia's Cann Group Ensures $50M Loan To Support Facility Completion

Australian cannabis company Cann Group Limited (ASX: CANN) (PINK: CNGGF) revealed Monday it has obtained credit approval from National Australia Bank (NAB) for its $50 million secured debt facility. read more

SD Police Throw Out Recreational Cannabis Measure Over 'Technicality'

South Dakota Governor Kristi Noem's efforts to challenge marijuana legalization continue.  read more

Cansortium Expands In Florida As Third Quarter Revenue Spikes 94% YoY

Cannabis company Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) reported Monday that it has generated $14.3 million in revenue in the third quarter of this fiscal year. read more

Jushi To Expand Scranton Facility To Create Some 100 New Jobs

Jushi Holdings Inc. read more

Mexico's Cannabis Legalization Bill Will Boost Business, But There Are Concerns

Mexican Senators approved a historic adult use cannabis legalization bill on Nov. 19, with an 82 to 18 vote. read more