The Biggest Cannabis And Psychedelics Highlights In August

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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