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NewLake Q2 Earnings + Why Dr. Oz Entered The Hemp Fight

By Shadd Dales On Aug 11, 2026

It’s Monday on today’s Trade To Black podcast presented by Flowhub, and with Shadd Dales in New York for the AdvisorShares MSOS bell-ringing at the NYSE, host Anthony Varrell steers the show — welcoming NewLake Capital Partners President and CEO Anthony Coniglio for a Q2 earnings breakdown, then ATACH President Michael Bronstein for the weekly Insiders Edge. We open on the day’s headlines: MSOS ringing the NYSE bell, and a record quarter out of Village Farms.

Village Farms (NASDAQ: VFF) leads the tape. We break down a standout print — consolidated net sales of $64 million, up 27% sequentially and 7% year over year, with net income of $7.1 million, or $0.06 a share, driven by record cannabis revenue and international momentum. Export sales hit a record $20.9 million, up 74% year over year, out of what the company calls the world’s largest EU-GMP-certified facility in Delta, B.C., feeding Germany and its adult-use footprint in the Netherlands. It’s exactly the kind of growth tier-one MSOs are hunting for, and we flag CEO Michael DeGiglio joining us in the weeks ahead.

Coniglio then walks us through NewLake Capital’s (OTCQX: NLCP) second quarter: revenue of $12.1 million, AFFO of $10.3 million ($0.49 per share), and 100% collection of contractual rent, against a vacancy drag from three properties that came available in 2025. He details the 43-cent quarterly dividend at an 88% AFFO payout, one of the most conservative balance sheets in cannabis — just $7.6 million drawn on a $90 million revolver, roughly 0.2x debt-to-EBITDA — and a newly amended facility that extends maturity to May 2029 at a lower rate. We also get into what The Cannabist Company’s restructuring and the pending Vireo Growth transaction mean for four NewLake properties in Illinois and Massachusetts, plus how a portfolio that’s roughly half federally legal could split to pursue a senior-exchange listing and clear the custody hurdle keeping institutions away.

For Insiders Edge, Bronstein unpacks the four-week hemp extension buried in the Senate’s continuing resolution — moving the federal hemp THC ban from November 12 to December 11 — and the support behind it that genuinely surprised everyone, including CMS Administrator Dr. Oz’s intervention on behalf of senior CBD access. He argues whatever regulation emerges will look nothing like today’s market, with synthetic cannabinoids still recriminalized on schedule and THCA flower in the crosshairs. We also get his read on the widening GOP split on hemp heading into December, and hemp as a live electoral issue from James Talarico versus Ken Paxton in Texas to Pennsylvania’s governor race and a Massachusetts repeal ballot initiative ATACH is working to beat back.

Catch the full breakdown on today’s episode.

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Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.