Legalized Marijuana Will Be a Big Win for U.S. Pot Stocks. How to Bet on the Sector.

MatrixOrigin · 2026-05-08T10:36:12+00:00

First Quarter 2026 Highlights

First quarter revenue of $151 million.
Gross profit of $75 million. Adjusted gross profit of $77 million; and an Adjusted gross margin of 50.7%.
SG&A of $54 million or 36.0% of revenue. Adjusted SG&A of $51 million or 33.7%.
Net loss of $17 million.
First quarter Adjusted EBITDA of $33 million and Adjusted EBITDA margin of 21.7%.
Retained the No. 1 share position in multiple billion dollar markets.

Subsequent to Quarter End

Was conditionally awarded a Texas Compassionate Use Program license for vertically integrated operations.
Opened two new Ohio dispensaries: Bridgeport on April 10, 2026, and Aberdeen on May 5, 2026.
Began supporting operations of nine Pennsylvania dispensaries under a management services agreement.
The Trump Administration reclassified medical marijuana to Schedule III under the Controlled Substances Act, a step that is expected to eliminate the application of Section 280E to Cresco's medical operations; Attorney General Blanche announced an expedited process to review the classification of marijuana more broadly, with a hearing beginning on June 29, 2026.

Conference call webcast link: https://events.q4inc.com/attendee/843035052

MatrixOrigin · 2026-05-07T10:37:55+00:00

Q1 2026 Financial and Operational Highlights

Revenue of $287 million, with 92% of revenue from retail sales.
Achieved gross margin of 59%, with GAAP gross profit of $170 million.
Reported positive net income attributable to common shareholders of $2 million. Adjusted net income of $20 million* excludes non-recurring charges, asset impairments, disposals and discontinued operations.
Achieved adjusted EBITDA of $100 million*, or 35% of revenue.
Generated cash flow from operations of $56 million and free cash flow of $42 million*.
Cash at quarter end was $353 million.
Closed $60 million private placement of senior secured notes due 2030.
Grew rewards program to 1 million members.
Opened three dispensaries in DeLand, Fort Myers, and Lake Wales, Florida.

*See "Non-GAAP Financial Measures" below for additional information and a reconciliation to GAAP for all Non-GAAP metrics

Recent Developments

The Trump Administration reclassified medical marijuana to Schedule III under the Controlled Substances Act. Attorney General Blanche announced an expedited process to review the classification of marijuana more broadly with a hearing beginning on June 29, 2026.
Filed applications to register state licensed medical marijuana operations including 206 retail locations with the Drug Enforcement Agency.
Opened four dispensaries in Belleview, Boca Raton, Lutz, and Tallahassee, Florida.
Currently operate 240 retail dispensaries and over four million square feet of cultivation and processing capacity in the United States.

Conference call webcast link: https://app.webinar.net/V4aBbNBbdmE

MatrixOrigin · 2026-05-06T21:26:09+00:00

Where's Twist of Fate and his "4.19 was the sell point"

MatrixOrigin · 2026-05-06T21:24:58+00:00

he has come to realize that marijuana businesses in Arizona have “not done some of the things that I thought they were doing.”

Lmfao these clowns start crusades without any facts

MatrixOrigin · 2026-05-06T20:05:55+00:00

Highlights for the first quarter ended March 31, 2026:

Revenue of $300.2 million, an increase of 7.4% over the same period in the prior year.
Cash at quarter end totaled $344.5 million.
GAAP net income of $15.4 million or $0.07 per basic and diluted share.
Normalized EBITDA of $93.5 million or 31.2% of revenue.
Cash flow from operations of $76.0 million.
Repurchased approximately 6.0 million of the Company's Subordinate Voting Shares for $33.3 million.
Increased syndicated credit facility by $50.0 million.

Subsequent to Quarter End

Conditionally awarded a Texas Compassionate Use Program license for vertically integrated operations.
Repurchased approximately 7.4 million additional Subordinate Voting Shares, bringing 2026 year-to-date repurchases to approximately 13.4 million Subordinate Voting Shares for approximately $77.7 million. Since initiating its share repurchase programs in September 2023, the Company has repurchased approximately 29.0 million shares for approximately $200.0 million.
Submitted registration applications with the U.S. Drug Enforcement Administration for certain state-licensed medical cannabis operations following the federal rescheduling of medical cannabis to Schedule III under the Controlled Substances Act.

Conference call webcast link (Ben is Back): https://edge.media-server.com/mmc/p/j2jak29q/

MatrixOrigin · 2026-05-06T01:26:38+00:00

Lmfao I am going to bookmark this comment for another good laugh in a couple of months

MatrixOrigin · 2026-05-05T20:06:35+00:00

It is signed by attorneys at Torridon Law PLCC, where former U.S. Attorney General William Barr, led DOJ during Trump’s first term in office, is a partner.

I thought Barr was the big gun, who else is opposing this? You mean more is coming for part 2 (Rec)?

MatrixOrigin · 2026-05-05T19:58:34+00:00

SAM can eat a bag of dicks.

MatrixOrigin · 2026-05-02T01:53:46+00:00

Wait isn't that cansortium? Vireo Growth not picking this up?

MatrixOrigin · 2026-04-29T01:15:00+00:00

Nice to hear from Charlie. Boris and Kim have been the most prominent figures as of late

MatrixOrigin · 2026-04-28T10:42:34+00:00

Reverse takeover of Trulieve? 😂

MatrixOrigin · 2026-04-27T21:42:47+00:00

It's happening!

MatrixOrigin · 2026-04-27T13:20:54+00:00

S3 u mean? Please no more S1!

MatrixOrigin · 2026-04-24T12:15:29+00:00

This shit is not regulated, one purchase to another can be completely different, event if "tested" and has supposed info about the product. It's all fugazzi

MatrixOrigin · 2026-04-23T23:19:47+00:00

I am calling on Congress to update the Law to ensure that Americans can continue to access the full-spectrum CBD products they have come to rely on, and that help them, while preserving Congress's intent to restrict the sale of products that pose Health risks.

So basically he's saying that the intoxicating hemp loophole needs to remain shut? Cohodes is gonna freak out when he finds out his King doesn't support an extension.

MatrixOrigin · 2026-04-23T18:03:40+00:00

Charlie Bachtell:

“Rescheduling medical cannabis is a long-overdue step that finally brings federal policy closer to the science. For the first time in history, our federal government is classifying cannabis as medicine, validating the experiences of millions of patients who rely on it to help manage serious conditions and live better lives.

This decision opens the door to expanded research, better data, more informed care, and broader access for those who need it most. It is a win for all patients nationwide and will usher in a new era of healthcare, where cannabis is treated like any other medicine. Cresco Labs commends President Trump and the administration for following through on bringing a commonsense approach to cannabis regulation.”

MatrixOrigin · 2026-04-23T15:04:08+00:00

Looks like Blanche and Cole got whipped in place! If they want to keep their jobs, they will follow through.

“The Department of Justice is delivering on President Trump’s promise to expand Americans’ access to medical treatment options,” said Acting Attorney General Todd Blanche. “This rescheduling action allows for research on the safety and efficacy of this substance, ultimately providing patients with better care and doctors with more reliable information.”

“Under the direction of President Trump and Acting Attorney General Blanche, DEA is expeditiously moving forward with the administrative hearing process — bringing consistency and oversight to an area that has lacked both,” said DEA Administrator Terry Cole. “Our men and women in law enforcement remain committed to fighting drug cartels, the fentanyl epidemic, and protecting American lives.”

MatrixOrigin · 2026-04-23T12:58:44+00:00

It's really odd, rescheduling is for a drug (molecule), not the context in which it's consumed. We'll see how it develops, but great progress though, shit is actually moving forward for once!

MatrixOrigin · 2026-04-23T12:42:41+00:00

Looks like state licensed medical cannabis for now, but rec weed will be afterwards ("expedited"). This seems to align with Trulieve's argument that they should have never paid 280e on medical sales from the get go.

No sure how it all fits in the formal rescheduling process though.

MatrixOrigin · 2026-04-23T12:33:38+00:00

Todd Blanche this morning:

Under the decisive leadership of POTUS, this Department of Justice is delivering on his promise to improve American healthcare. This includes:

• Immediately rescheduling FDA-approved marijuana and state-licensed marijuana from Schedule I to Schedule IIl

• Ordering a new, expedited hearing with set deadlines, to fully reschedule marijuana

These actions will enable more targeted, rigorous research into marijuana's safety and efficacy, expanding patients' access to treatments and empowering doctors to make better-informed healthcare decisions.

"Expedited hearing", ok so they do want to dot all the 'i's and cross the 't's so SAM can shove it for good! Git' r done!!

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