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Frank Colombo Unpacks Cannabis Earnings Season

By Shadd Dales On Mar 21, 2025

Shadd Dales and Anthony Varrell welcome Cresco Labs (OTCQX: CRLBF) CEO Charlie Bachtell to the Trade To Black Podcast for March 21, 2025. Charlie will be discussing Cresco’s Q4 and full Fiscal 2024 results. Later, Viridian Capital Advisors CFA, Frank Colombo joins us again to recap the latest cannabis earnings season. Get highlights on standout performers and his perspective on what investors should focus on moving forward when you tune in.

Kicking off with the highlights of Cresco Labs’s full year 2024, Charlie Bachtell says that Cresco posted $724 million in annual revenue. This reflects a 6% decline from the previous year, but the company demonstrated resilience by maintaining adjusted gross profit levels consistent with 2023. Adjusted EBITDA improved 15% year-over-year, reaching $200 million, while operating cash flow rose $74 million to $132 million. Capital expenditures were managed at $20 million, and the company reduced its debt by retiring $40 million of its 2026 note in Q4.

Charlie dives into Kentucky’s launch of their medical marijuana program, and how Cresco is strategically involved with it. Right now Kentucky has only two large cultivation licenses, of which Cresco is one. Check out the interview to learn what cannabis investors should avoid focusing on in the cannabis industry in 2025.

In the markets, Shadd and Anthony chat about Industry Fatigue, the IIPR-PharmaCann Fallout, and the mixed signals coming from states like Texas. Frank Colombo also joins to unpack cannabis earnings season in total. Although 7 out of 12 top companies beat revenue estimates, 8 out of 12 showed year-over-year EBITDA declines, largely due to margin compression from inflation and pricing pressure. Frank warned that 2025 projections show more EBITDA declines, indicating ongoing margin strain. He also analyzed the IIPR-PharmaCann saga, suggesting that PharmaCann’s default on lease payments could force IIPR into rent concessions or dividend cuts—an issue complicated by similar lease risks across their portfolio.

This and more before the weekend.

AN – Sidebar Square

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.