fbpx
QQQ
+ 2.73
293.55
+ 0.92%
DIA
+ 0.63
297.96
+ 0.21%
SPY
+ 1.22
361.27
+ 0.34%

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

Pure Sunfarms Inks Supply Deal With Shoppers Drug Mart

Pure Sunfarms opted to supply Shoppers Drug Mart Inc's customers with its cannabis products. The Village Farms International Inc. (NASDAQ: VFF) (TSX: VFF) subsidiary teamed up with the Canadian retail pharmacy chain to provide consumers with Pure Sunfarms' dried flower products. read more

Cannabis Movers & Shakers: Cannabis Growth Opportunity, Bhang, CanaFarma Hemp, Amfil Technologies

Here is a summary of the latest company shakeups within the cannabis industry. 3 Execs Exit Cannabis Growth Opportunity Investment company Cannabis Growth Opportunity Corporation (CSE: CGOC) has parted ways with several executives. read more

Earnings Update: Vireo, Rubicon, Flower, Planet 13, Driven Deliveries, Decibel, Pure Harvest

Vireo Health Revenue Spikes, New Stores To Open By Q1 2021 read more

A Weed-Infused Cooking Class For Thanksgiving? One Cannabis ETF's Unique Marketing Strategy

ETFMG has come up with a very interesting marketing idea. read more

Jay-Z Inks Largest Cannabis SPAC Deal Ever With Subversive Capital, Roc Nation, Caliva, Left Coast Ventures

Music industry mogul Jay-Z is set to join a newly formed cannabis company that's expected to become the largest in California. read more