US Cannabis Investor Portal

Share count is fully diluted (includes outstanding shares, warrants, preferred shares, options, etc.). Annualized revenue is factored by taking the most recent quarterly revenue and multiplying it by four. Company names link to their investor relations page and tickers link to their investor presentations. You can support my work on Patreon here (comes with benefits!)

69 thoughts on “US Cannabis Investor Portal

  1. MJ – First, I’d like to thank you for this website and all of your research. It is a site that I check daily for news, research, etc. One comment and potential small opportunity to improve – On top of this page (the investor portal), there is a heading with a date of Jan. 23, 2021 – that may be the date the page / spreadsheet was created?. It does appear the pricing is current, so that date is just confusing. May want to update the spreadsheet to show the current date. Just a suggestion

    1. Thanks for the feedback. Yes, that was the day I started that spreadsheet. The pricing is automatic (20-minute delay) which then updates the market cap and P/S ratios.

    2. Any idea if Cresco or Trulieve can accelerate to call back their warrants like Ayr did now? This worries me now as I bought the cresco warrants at high of bull market in March.

  2. Wow this is awesome. Stuff like this can be super helpful for investors and really shed a light on names that are overlooked.

    If I may suggest one more piece to add, it would be square footage of cultivation space. By state would be ideal- similar to your dispensary sheet. In the mid to long term I think it will be critical to identify the vertically integrated players, vs the more wholesale and retail-centric. Often easy forget this is a commodity.

  3. Thanks for sharing this site. Really valuable resource for investors in the space.

    I did some quick visualizations based on these charts (just for fun). I’d be happy to help you build out some more charts/dashboards that you could host here if you’re interested. I could plug data studio into your spreadsheets and get a much cooler dashboard worked up depending on what data is available. Let me know!
    https://datastudio.google.com/s/kL8_YCqYpkU

  4. Hi,

    Thanks for all your work synthesizing an enormous amount of data. It would be great to see Body and Mind, who operate in California, Nevada, Ohio and Arkansas added to your list

  5. Very nice, thanks for the hardwork. I’ve compared many of your companies with the SEC/SEDAR filings and although there are some errors, I find this to be mostly accurate. So hard with all this anyways given the multible sources out there. I only read form the horses mouth – filings & disclosure.

    I was wondering if you can privide insite into how you’ve calculated your P/S ratios?

    Many thanks, R

    1. I calculate P/S by:

      1. Multiply the most recent Q revenue by 4 to get an annualized revenue. I prefer that over TTM.
      2. Divide market cap by that annualized number to get a P/S ratio.

  6. Hello again MJ,

    Just wanted to suggest you put a disclaimer for “Shares” as it is unclear how you are listing that info. As you know, there are many types of shares and even amongst ‘Shares Outstanding’ there can be a couple different types of that. So as to be consistent, I suggest a disclaimer in how/what you are listing that colume as. For example, Body & Minds latest filing(Feb 2, 2021) lists ‘shares outstanding’ as 108, 307,278, while you post 130 mil?

    Some investor decks are not updated for long periods of time, but the filings are the latest.

    Again, LOVE your work and this has been an invaluable tool for comparison purposes for investing!

    Many thanks, R

  7. Thank you for putting this together! Great service. I see only one error: Tilt Holdings has 366 million outstanding shares according to their most recent Sedar filings, not 470 million. Small nit on an excellent project!

  8. This is awesome. Thanks for all the hard work that went into putting it together. One question – where are you getting your revenue estimates? Many of the companies haven’t given guidance for full year 2021 or 2022. I think FactSet does have estimates for the Tier 1 and Tier 2 US operators, but it doesn’t look like you’re using those. Thanks again.

  9. Great site! I don’t see a link to contact you directly, but just wanted to say 4Front Ventures now has 2 stores in IL (the chart says 1).

  10. This is a great resource. Thank you for sharing this.
    Question: what is the unit of measurement for the “Total Grow” column?

  11. Ah I see. I’m a small time investor (still a college student) so I can’t afford $300/year but thank you for putting together this information!

  12. Thanks for putting this together. Just a heads up SHWZ fully diluted share count is 120 million per the recent investor presentation. 2021 estimated revenue of 125m and 2022 estimated revenue of 250m.

    Thanks again!

  13. Thanks for putting this together, lots of great info! Had a couple more questions for you, any chance you can send me an email offline?

  14. Great Site
    However have noticed a couple of issues
    Tilray now reports in usd $$$ and did so with their most recent Q1, 2022 earnings report
    NEW YORK & LEAMINGTON, Ontario–(BUSINESS WIRE)–Oct. 7, 2021– Tilray, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today reported financial results for the first fiscal quarter ended August 31, 2021. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated, and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”).

    Also Verano reports PreMarket on November 16th not After the close
    https://investors.verano.com/news/news-details/2021/VERANO-TO-REPORT-THIRD-QUARTER-2021-FINANCIAL-RESULTS-ON-NOVEMBER-16-2021/default.aspx

    Just thought you would like to know

    Cheers

  15. well organized…but what happened to the current and forward EV,EBITDA columns ?

    FYI, there is a twitter account that also puts up a regular data table as a second check.

  16. I have followed you on Twitter for a few months and really enjoy your commentary and work. Appreciate the good work.

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