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The Biggest Cannabis And Psychedelics Highlights In August

By Shadd Dales On Aug 28, 2023

August has been an interesting month to say the least! As we stand at the threshold of September, host Shadd Dales, lead financial writer Benjamin A. Smith, and millennial investor Anthony Varrell take a look back at the past month to remember and recap the highlights of August in both cannabis and psychedelics.

In cannabis, one of the biggest earnings reports was Curaleaf, who had fantastic Q2 2023 earnings. Curaleaf’s Q2 earnings report showed revenue of $338.6m and adjusted EBITDA of $70m. It was an increase of 4% YOY in revenue, and their adjusted gross margin and EBITDA were 44% and 21% respectively. They also ended Q2 with $85m on the balance sheet.

TerrAscend was the Q2 topper, however. With their net revenue up 3.9% sequentially to $72.1m and 12.7% YOY, plus gross profit margins of 50.2%, they put up some truly impressive numbers in the tough cannabis climate. We also had a sidebar with CEO Ziad Ghanem who explained why TerrAscend was doing so well.

The future of psychedelics: so bright we have to wear shades? We take a look over some of the interviews we’ve had this past month, including with Payton Nyquvest, CEO of Numinus Wellness Inc. (TSE: NUMI). Nyquvest expects big things from the MAPS Phase 3 MDMA assisted clinical therapy readouts. We’ll do a recap on some future expectations and how they might just change an industry.

Lastly, we touch back on two more cannabis issues. Pelorus’ successful first securitization for cannabis-related real estate assets even before changes to legislation is the first – and a huge win. The other is MariMed, who has been thriving despite cannabis market challenges. Amazingly enough, they’re still scaling up despite the issues that plague competitors.

Want more details on what highlights happened in August? Tune in to hear the highlights.

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* In accordance with an executed agreement between The Dales Report and Pelorus Capital Group, The Dales Report is engaged with the aforementioned on a 12-month contract for $7,500 per month, with the purpose of publicly disseminating information pertaining to Pelorus Capital Group via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.

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.