Marijuana stocks are still having issues catching bigger waves of momentum. Even with most cannabis companies reporting strong Q4 earnings it only did so much for the public sector. Many feel as more reform and regulatory issues are met in favor of legal operators it will help the public sector. The biggest fight for legal cannabis is better laws in place that help legal operators, not just corporate cannabis. There are many parts to what makes a strong industry and a solid company.

For the most part, companies that are profitable or are working on big projects seem to catch the volatile pops in trading. Even with the current volatile downtrend at times when there is a strong enough catalyst cannabis stocks have seen jumps in trading. Yet often they are short-lived it still give shareholders a chance to potentially make a profit. Right now investors see cannabis stocks as the investment of the future.

So as the sector is down some see it as a means to find the best marijuana stocks to buy. Better to find the top companies at low share prices than a pot stock that has a low entry but doesn’t trade well. Having a good strategy and taking the time to do your due diligence is important. Below are several marijuana stocks to watch as investors watch for any upward market changes.

Top Marijuana Stocks For Investors 2025

1. FLUENT Corp. (OTC:CNTMF)
2. Curaleaf Holdings, Inc. (OTC:CURLF)
3. Ascend Wellness Holdings, Inc (OTC:AAWH)

FLUENT Corp.

FLUENT Corp., through its subsidiaries, produces and sells medical cannabis in Florida, Pennsylvania, and Texas. At the end of February 2025 the relocation of its Miami dispensary from North Miami Beach to Aventura.

Words From The Company

“As our store in North Miami Beach was an outdated first-generation store, our newly opened Aventura location is reflective of FLUENT’s current store model boasting many updates such as an open showroom floor, digital menu screens, an expanded vault and twice the number of POS stations,” said Robert Beasley, CEO of FLUENT.”

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Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. operates a cannabis operator in the United States. It operates through two segments, Domestic Operations and International Operations. On March 3rd the company reported its Q4 and full-year 2024 results.

Fourth Quarter 2024 Financial Highlights

• Net Revenue of $331.1 million, a year-over-year decrease of 4% compared to Q4 2023 revenue of $345.3 million.
  Gross profit of $157.4 million and gross margin of 48%, an increase of 230 basis points year-over-year.
• Adjusted gross profit(1) of $158.7 million and adjusted gross margin(1) of 48%, an increase of 150 basis points year-over-year.
• Net loss attributable to Curaleaf Holdings, Inc. from continuing operations of $71.8 million.
• Cash at quarter end totaled $107.2 million.

[Read More] March 2025 Watchlist: Top Ancillary Cannabis Stocks Poised for Growth

Ascend Wellness Holdings, Inc

Ascend Wellness Holdings, Inc. engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods in the United States.

Q4 2024 Earnings And Highlights

Full Year 2024 Net Revenue Increased 8% Year-over-Year to $562 million
Full Year 2024 Adjusted EBITDA1 Increased 9% Year-over-Year to $116 million
Second Full Year of Positive Cash from Operations and Positive Free Cash Flow2
Company Ended Q4 2024 with $88 Million of Cash and Cash Equivalents

The post 3 Marijuana Stocks To Keep On Watch After Q4 Earnings appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry..

This hemp is often sold and marketed online without age verification, in packaging attractive to minors, or at unlicensed retail stores. Most labels lack clear potency information, and the products are not traceable to test results. On the bright side, the report didn’t seem to turn up much pesticide contamination, although 4 of the 51 samples contained prohibited “artificially derived cannabinoids.” Those are semisynthetic substances like delta-8 THC or CBN derived from CBD.

Not a great look overall. But again, no surprise.

The technical report at issue runs 45 pages, and covers marijuana as well as hemp. It was produced by the Oregon Liquor and Cannabis Commission (OLCC) in conjunction with the Oregon Department of Agriculture (ODA) and the Oregon Health Authority (OHA). The OLCC’s news release published alongside the report summarizes things nicely. I’m not going to recap it—you can click the link. But I’ll share a few quick thoughts.

The hemp product registry isn’t working (yet)

Last year, Oregon House Bill 4121 tasked OLCC with overseeing the establishment of a hemp product registry. I wrote about it here and here. Aside from that coverage, hemp-related aspects of HB 4121 didn’t get a lot of press. This is because the marquee provision of HB 4121 was a permanent cap on marijuana licenses. That sexy topic dominated the headlines.

The hemp aspects of the bill were important too, though. And they were there because everyone has long known about the issues highlighted in this week’s report. Thus HB 4121 contained a myriad of regulatory and law enforcement provisions in respect of hemp—including the creation of a registration program for hemp products. One aspect of this program is a hemp vendor license. In December, I explained that:

The [hemp vendor license requirement] took effect July 1. At that time, I wrote that the rule was “very broad and likely to catch people off guard.” That proved to be the case in my experience, including with respect to OLCC—I ended up writing them on September 30 after stumbling across incorrect FAQs on the topic. My guess is that a large number of Oregon businesses are still unaware of the license requirement, and therefore not compliant, and that it doesn’t really matter because enforcement is sparse or nonexistent.

I believe this is still the case. Few hemp vendors, whether online or brick-and-mortar, local or out-of-state, understand there are rules around selling hemp to Oregon consumers. Or that they need a license of any type.

I’m still not aware of any enforcement around this and I don’t think anyone selling hemp is all that worried. Let’s see if anything changes with the publication of this preliminary report and further rulemaking around the topic. But again, best to keep a lid on expectations.

Most hemp growers don’t care

When the 2018 Farm Bill passed, legalizing hemp, many growers moved into the ODA system with no intention of growing cannabis for fiber or grain. In an old blog post tracing the evolution of regulated Oregon cannabis, I explained that in 2019 “people started to use ODA licenses as cover for diversion . . . . as opposed to persisting in the OHA (medical marijuana) system.”

Oregon hemp, like hemp nationwide, has always been an intoxicating products game. Maybe one day the disconnect between fiber and grain farmers, on the one hand, and manufacturers, on the other, will resolve. And demand will follow and it will become a winning proposition to grow industrial hemp. Someday.

I don’t think Oregon can fix it

The OLCC news release offers a sunny subtitle: “Agency sets path forward for better compliance.” The report also lays out three key measures, which include: 1) honest labeling requirements; 2) product testing and 3) enforcement and penalties— including fines on out of state operators. Good luck guys! Been talking about all of this stuff for over a decade.

I don’t think hemp is all that regulable at this point, for the same reason that “marijuana” has always been such a cluster for states. The reason is that federal law and policy make it so. With hemp in particular, the feds did nothing of consequence to stem the tide of intoxicating products, or of hemp in food and beverages for that matter. This dynamic puts the states in an impossible position.

Still, Oregon keeps saying we will give this a shot. I haven’t talked to anyone down in Salem in a minute; my guess is this report will galvanize some conversations around proposed cannabis bills in the ongoing legislative session.

Elsewhere, the news cycle on this should fade pretty fast. My guess is that next year at this time, you and your niece and your nephew will be free to buy funky hemp products in Oregon—both in stores and online.

The U.S. cannabis industry continues expanding, creating opportunities for ancillary companies that support cultivation and retail operations the U.S. legal cannabis industry experienced significant growth, with sales reaching approximately $31.4 billion, marking a 9.14% increase from the previous year. Industry experts predict sales could reach $50 billion by 2028 as more states legalize marijuana. Recently, Congress discussed federal cannabis reform, increasing speculation about potential rescheduling. If federal legalization advances, ancillary stocks could see strong momentum. These companies provide essential products, including hydroponics, lighting, and packaging, benefiting from growing cannabis demand. As the industry evolves, investors are closely watching top-performing ancillary stocks this week.

To navigate cannabis stocks, investors should use technical analysis and risk management strategies. Identifying key support and resistance levels helps time entries and exits efficiently. Volume trends and moving averages also provide insight into stock momentum. Additionally, diversifying investments reduces risk in this volatile sector. As legalization efforts progress, tracking market sentiment and sector news remains essential.

Key Players in the Industry

The cannabis industry continues to expand in the U.S., creating strong demand for ancillary companies. These companies provide essential products and services to cannabis cultivators and dispensaries. With legalization efforts gaining traction, ancillary stocks could see significant growth in 2025.

This month, three top ancillary cannabis stocks stand out. GrowGeneration Corp. (GRWG) specializes in hydroponic and organic gardening products. Hydrofarm Holdings Group, Inc. (HYFM) supplies lighting, ventilation, and nutrients to cannabis growers. Scotts Miracle-Gro Company (SMG) dominates the lawn and garden market while expanding its cannabis-focused division. Each of these companies plays a vital role in the industry’s supply chain.

Investors should consider these stocks due to their strong market presence and financial performance. Let’s take a closer look at what makes each of them a top pick in March 2025.

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March 2025’s Top Ancillary Cannabis Stocks: Companies Powering the Green Industry

1. GrowGeneration Corp. (NASDAQ: GRWG)
2. Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM)
3. Scotts Miracle-Gro Company (NYSE: SMG)

GrowGeneration Corp. (GRWG)

GrowGeneration Corp. (GRWG) is the largest hydroponics and specialty gardening retailer in the U.S. The company operates over 60 retail locations nationwide, supplying cannabis cultivators with nutrients, lighting, and grow tents. It has a strong presence in key cannabis markets, including California, Colorado, and Michigan. These states have established recreational and medical cannabis programs, making them critical to GrowGeneration’s success.

The company also sells its products online through its e-commerce platform. This has allowed it to reach customers beyond its physical locations. GrowGeneration continues to expand by acquiring smaller hydroponics companies and opening new stores in emerging markets. Its strong distribution network gives it an edge over competitors.

Financially, GrowGeneration has maintained stable revenue despite industry challenges. In its latest earnings report, the company reported $260 million in annual revenue. While this is a slight decline from previous years, cost-cutting measures have helped improve profitability.

Gross margins have remained strong at around 28%, showing efficient operations. The company has reduced operating expenses and streamlined its supply chain. These actions have helped maintain positive cash flow. Additionally, GrowGeneration’s e-commerce sales continue to grow, contributing to overall revenue stability.

Looking ahead, the company plans to focus on higher-margin products. It also aims to expand into new markets as more states legalize cannabis. With improving financials and strategic expansion, GrowGeneration remains a key ancillary stock to watch in 2025.

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Hydrofarm Holdings Group, Inc. (HYFM)

Hydrofarm Holdings Group, Inc. (HYFM) is a leading supplier of hydroponic equipment and agricultural technology. The company provides lighting, climate control systems, and nutrients for indoor cannabis cultivation. It operates multiple distribution centers across North America, ensuring efficient delivery of products.

Hydrofarm’s largest presence is in the United States, where it serves commercial and home growers. The company’s products are widely used in California, Oregon, and Washington. These states have a strong cannabis cultivation industry, making them key markets for Hydrofarm.

The company has expanded its product portfolio through acquisitions of leading hydroponics brands, strengthening its position in the cannabis industry. It also continues to invest in research and development to improve its products.

Financially, Hydrofarm has faced challenges in recent years. However, its latest earnings report showed signs of recovery. The company reported $350 million in revenue, marking a 10% increase from the previous year. Cost reductions and supply chain improvements have contributed to better margins.

Despite previous losses, Hydrofarm has improved its cash flow and reduced debt. This financial discipline is helping the company stabilize its operations. The demand for hydroponic solutions remains high as cannabis cultivation expands.

Looking forward, Hydrofarm plans to introduce new energy-efficient lighting solutions. These innovations aim to reduce growers’ cultivation costs. The company also expects further growth from its commercial partnerships. Hydrofarm could see stronger financial performance in 2025 if the industry continues expanding.

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Scotts Miracle-Gro Company (SMG)

Scotts Miracle-Gro Company (SMG) is a lawn and garden care household name. While known for traditional gardening products, it has built a strong presence in the cannabis industry. Through its subsidiary, Hawthorne Gardening Company, Scotts provides lighting, fertilizers, and hydroponic systems for cannabis growers.

The company operates nationwide, with a significant presence in states like California, Colorado, and Michigan. Both home and commercial cannabis cultivators widely use its products. Hawthorne Gardening has become a market leader in hydroponic solutions, making Scotts a major ancillary cannabis stock.

In addition to its hydroponic business, Scotts continues expanding its organic and environmentally friendly product lines. This strategy aligns with increasing consumer demand for sustainable cultivation practices.

Financially, Scotts Miracle-Gro has maintained steady revenue growth. In its latest report, the company announced $4.2 billion in annual sales. This represents a slight increase from the previous year, driven by its Hawthorne division.

However, rising production costs have impacted overall profit margins. Scotts has responded by optimizing operations and streamlining product distribution. Despite economic challenges, it remains profitable, with strong cash reserves.

The company also continues to return value to shareholders through dividends and stock buybacks. Its diversified product portfolio provides stability in fluctuating markets. With continued investment in the cannabis sector, Scotts Miracle-Gro remains a strong pick for ancillary cannabis investors in 2025.

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Must-Watch Ancillary Cannabis Stocks for Smart Investors

Ancillary cannabis stocks not only provide essential products and services to the growing cannabis industry but also play a vital role in its expansion. Companies like GrowGeneration, Hydrofarm, and Scotts Miracle-Gro have not only positioned themselves as industry leaders but have also built strong market presence. Because of this, their dominance in key U.S. cannabis markets makes them attractive investment options.

Even though the industry faces challenges, these companies continue to adapt by focusing on financial improvements, strategic expansions, and new product developments. As a result, their growth remains strong. Investors seeking exposure to the cannabis sector without directly investing in cultivation should seriously consider these ancillary stocks.

Furthermore, with increasing legalization and rising demand for cultivation products, these companies are set to benefit in 2025. Therefore, keeping an eye on their financial performance and market trends will help investors make informed decisions. Ultimately, as the cannabis industry evolves, ancillary stocks will remain crucial to its success.

The post March 2025 Watchlist: Top Ancillary Cannabis Stocks Poised for Growth appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry..

Step 1: Check the Legalities

First things first—know your laws! In the U.S., cannabis laws vary widely from state to state. As of 2025, 23 states have legalized recreational cannabis use, and many more allow medical use. However, restrictions on home cultivation differ. For example, states like California allow adults over 21 to grow up to six plants for personal use, whereas others may limit cultivation to registered medical users only (California Department of Cannabis Control, 2024). Always double-check your local regulations before getting your hands dirty.

Step 2: Planning Your Garden Space

Cannabis can be grown indoors or outdoors, each offering unique advantages. Indoors, you have complete control over your plant’s environment—light, temperature, humidity—but you’ll need to invest in equipment like grow lights and ventilation systems. Outdoor growing is generally cheaper, harnessing the power of natural sunlight, but is subject to the whims of weather and pests.

Location is key. Cannabis loves sun, so if you’re planting outdoors, find a spot that gets at least 6-8 hours of direct sunlight per day. If you’re going indoors, a spare room or closet will do, as long as you can control the light cycle and maintain good airflow (Cannabis Training University, 2023). Don’t forget about privacy—your garden should be discreet if you have neighbors nearby.

Step 3: Choosing Your Seeds

Here’s where the fun really begins—picking your strains! There are hundreds of cannabis strains, each offering different effects, flavors, and growing requirements. For beginners, consider starting with hardy strains like Northern Lights or Blue Dream, known for their resilience and relatively forgiving nature. Indica strains are often shorter and bushier, making them ideal for indoor growing, while sativas can grow tall and thrive outdoors.

Make sure you’re buying seeds from a reputable source. Many online seed banks ship discreetly to ensure privacy and legality (High Times, 2024). Look for feminized seeds, which are guaranteed to produce the valuable female plants that bear buds, as opposed to male plants, which are often culled to prevent pollination.

Step 4: Germination and Planting

The germination process is straightforward—think of it as “waking up” your seeds. A popular method is to place seeds between damp paper towels for a few days until they sprout tiny roots. Once sprouted, they’re ready to be transferred into soil or your chosen medium.

Cannabis prefers well-draining soil rich in organic matter. Many growers swear by soil mixes that include ingredients like compost, perlite, and coconut coir. If you’re growing in pots, start small and transplant as your plants grow.

Watering is crucial—too much can lead to root rot, while too little will cause wilting. Aim to keep the soil consistently moist but not waterlogged, and be aware that cannabis has a sensitive pH range, preferring slightly acidic soil (pH 6.0-7.0).

Step 5: Lighting, Nutrients, and Maintenance

Cannabis is a light-loving plant, so if you’re growing indoors, invest in good-quality LED or high-pressure sodium (HPS) lights. The light cycle is vital—young plants need about 18 hours of light a day, while mature plants in the flowering stage need about 12 hours of light (Cannabis Grow Bible, 2024).

Nutrients are another essential aspect of growth. Cannabis plants require a balanced mix of nitrogen, phosphorus, and potassium, along with micronutrients like calcium and magnesium. You can buy specialized cannabis fertilizers or make your own organic compost.

Step 6: Harvesting Your Buds

After months of care, your cannabis plants will start showing signs that they’re ready for harvest. Look for buds that are dense and coated with trichomes (tiny, crystal-like structures). A magnifying glass can help you see the color of the trichomes—when they turn from clear to a milky white, it’s usually a good indicator that they’re ready (Ed Rosenthal, 2024).

Cutting, drying, and curing your buds properly is essential to ensure the best flavor and potency. Trim the buds, hang them upside down in a dark, ventilated space for a week or two, and then cure them in glass jars for a few more weeks. Patience pays off in the end!

Final Thoughts

Growing cannabis is more than just a hobby; it’s an art and a science that can be incredibly rewarding. With the right planning and care, you’ll enjoy the fruits of your labor—literally. And whether you’re in it for the relaxation, the therapeutic benefits, or just the satisfaction of growing your own, there’s nothing quite like harvesting your own cannabis garden.

So, roll up your sleeves, put on your gardening gloves, and start planning your own cannabis adventure. Happy growing!

Sources:

• California Department of Cannabis Control. (2024). “Cannabis Cultivation Regulations.”
• Cannabis Training University. (2023). “Indoor vs. Outdoor Cannabis Growing.”
• High Times. (2024). “Top 10 Cannabis Strains for Beginners.”
• Cannabis Grow Bible. (2024). “Light Cycles for Cannabis Growing.”
• Ed Rosenthal. (2024). “The Complete Guide to Cannabis Harvesting and Curing.”

Date nights can be a vital to maintain a relationship, but did you know marijuana can help date night for all ages? A study by the National Marriage Project found that about 48% of married couples reported going on date nights “one or twice a month” or more frequently, while 52% reported going on date nights “a few times a year” or not at all. Couples who prioritize them are more likely to report better relationship quality and higher levels of intimacy, passion, and commitment. Date nights can help couples maintain a sense of connection and prevent their relationships from becoming mundane. 

Middle-aged couples juggling work and family responsibilities may find cannabis particularly beneficial for unwinding and reconnecting. The stress-reducing properties of marijuana can help partners shed the day’s tensions, creating a more relaxed atmosphere conducive to open communication. This can lead to deeper, more meaningful conversations, strengthening emotional bonds and mutual understanding.

For older adults, cannabis offers a range of benefits that can rejuvenate their romantic lives. Studies suggest moderate cannabis use may enhance sexual desire and satisfaction, potentially by promoting relaxation. While many seniors are discovering the potential of marijuana to alleviate common age-related issues such as chronic pain, sleep disturbances, and anxiety. By addressing these concerns, cannabis can help older couples feel more comfortable and present during intimate moments allowing them to fall in love with enjoyable intimacy again.

The Fresh Toast is a daily lifestyle platform with a side of cannabis. For more information, visit www.thefreshtoast.com.

Copyright 2025 The Fresh Toast. Distributed by TRIBUNE CONTENT AGENCY, LLC.

State Assemblyman Matt Haney, D-San Francisco, plans next week to introduce AB 564, or the Cannabis Tax Relief bill, to stop a tax hike — from 15% to 19% — set to go into effect on July 1.

Haney also authored AB 1775, which this year allowed dispensaries to open Amsterdam-style cannabis cafes with food and non-alcoholic drinks. While that bill and the one Haney is introducing next week could help boost local dispensaries’ revenues, some shops are nevertheless worried a tax hike will drive more cannabis consumers to the black market.

“The illicit or unregulated market is the biggest competition,” said Zoe Schreiber, director of compliance and public affairs for The Highlands Dispensary, which opened in unincorporated Livermore in 2022. “As a full retail community, our biggest competitors are not each other, but rather a market that’s unregulated.”

Schreiber said customers often complain of the high taxes on cannabis products at her dispensary, which can make up about 30% to 40% of the overall price out the door, she said. She said that in addition to the expected 4% excise tax increase, licensing and regulatory fees continue to drive the prices of legal cannabis products up, while pushing consumers away from the regulated market.

“‘I know a guy,’ or ‘my guy can get it to me for less.’ Those comments are ones that we do hear,” Schreiber said. “By continuing to do things to make regulated cannabis more expensive, or even where it’s at now, we lose over half the market. We lose the ability to create that safe space, which is what consumers voted for in 2016 with Prop. 64.”

Haney said he is putting the Cannabis Tax Relief forward to protect legal cannabis businesses from closing as the illegal market continues to grow at a faster rate.

“California’s cannabis industry is struggling. And a huge tax increase right now could be the nail in the coffin,” Haney said in an interview Wednesday. “This is absolutely the wrong time for a 25% tax increase on a fledgling legal cannabis industry that is trying to follow all of the rules and pay their taxes and is losing out everyday to those who are not.”

He also compared the legal weed industry’s tax bracket to that of wine or beer, saying a glass of alcohol includes about one or two cents in taxes, whereas taxes on a joint can cost over a dollar.

Haney added that California’s legal cannabis industry appears to be falling behind the cannabis-industry growth of other states such as Michigan, Colorado and Washington, which have lower taxes and friendlier regulations.

“I think that when cannabis was legalized in California, they did not expect that the illegal market would continue to thrive and grow and compete at the scale that it has,” Haney said. “They are operating outside of our laws entirely.

“Until California takes action to put a stop to that, we have to make sure that our businesses that are following the law are not so overly taxed and burdened that they cannot operate at all. This is common sense.”

California is known for its progressive approach to cannabis, and its wellness industry has embraced the plant’s potential for relaxation, creativity, and healing. Cannabis wellness retreats combine the therapeutic benefits of cannabis with holistic practices like yoga and meditation, offering a well-rounded approach to wellness.

What to Expect at a Cannabis Wellness Retreat

At a cannabis wellness retreat, you can expect a blend of experiences designed to nurture both the mind and the body. Many retreats offer a variety of activities, but the core focus remains on mindfulness and relaxation. Here’s a taste of what you might experience:

• Cannabis-Infused Yoga: A typical class might incorporate cannabis as a tool to deepen your practice. The plant’s calming effects can enhance flexibility, help you tap into deeper relaxation, and promote a sense of connection between your body and mind.
• Guided Meditation with Cannabis: Cannabis is known for its ability to heighten sensory experiences, which can make meditation practices even more profound. Some retreats offer guided sessions, where you can enhance your mindfulness practice while under the gentle influence of cannabis.
• Nature Walks and Scenic Views: Often, these retreats are held in beautiful, tranquil areas like the mountains, forests, or coastal regions, providing the perfect backdrop to connect with nature and yourself.

Where to Find Cannabis Wellness Retreats in California

California is home to several destinations offering cannabis wellness experiences. Here are a few spots where you can explore this unique blend of mindfulness and relaxation:

1. The Cannabis Spa at Sacred Garden (Los Angeles)
   Sacred Garden offers wellness packages combining yoga, cannabis consumption, and spa treatments. Located in the heart of LA, it provides an accessible and luxurious environment to unwind and reconnect. 
2. The Bloom Farms Retreat (Santa Barbara)
   Nestled in the rolling hills of Santa Barbara, this retreat is all about slowing down, finding balance, and nurturing your well-being. Their curated cannabis-infused yoga and meditation sessions are designed to help you relax and reset. 
3. The Healer’s Retreat (Northern California, Sonoma)
   In the tranquil wine country of Sonoma, this retreat integrates cannabis therapy with mindfulness practices. From yoga classes that feature cannabis to mindful breathing techniques, you’ll be guided by professionals who understand how to blend the plant’s properties with wellness practices. 
4. Canna-Camp at Camp Redwood (Big Sur)
   Set in one of California’s most scenic and serene locations, Big Sur, Canna-Camp offers a truly immersive cannabis retreat experience. Aside from yoga and guided meditation, guests are introduced to cannabis in a safe and therapeutic way, with educational sessions on consumption methods and wellness benefits. 

Why Choose a Cannabis Wellness Retreat?

If you’re wondering whether a cannabis wellness retreat is for you, consider this: these retreats can help with everything from reducing stress to enhancing creativity. They provide an opportunity to disconnect from the daily grind and reconnect with your body, mind, and spirit. Plus, they offer a safe and guided way to explore cannabis in a holistic context—helping you better understand its effects and how it can fit into your wellness journey.

So, if you’re craving a getaway that combines mindfulness, cannabis, and nature, California’s cannabis wellness retreats might just be what you need to recharge and rejuvenate. Whether you’re looking for relaxation or healing, these retreats promise an experience that’s both exciting and deeply restorative.

Sources:

• The Cannabis Spa at Sacred Garden – sacredgarden.com
• The Bloom Farms Retreat – bloomfarms.com
• Healer’s Retreat, Sonoma – sonomacannabiswellness.com
• Canna-Camp at Camp Redwood – cannacamp.com

What Are Cannabis Art Classes?

Cannabis art classes are just what they sound like: creative workshops where you can get your hands dirty (literally) and make something beautiful while enjoying cannabis in a legal, chill space. Depending on where you are, these classes can range from painting and pottery to other forms of art, all with the option to consume cannabis in a relaxed setting. The idea is to combine the calming, creative effects of cannabis with the joy of making art—whether that’s painting a masterpiece or crafting the perfect pottery mug.

For example, you might attend a cannabis painting class, where you’re encouraged to puff, pass, and paint. Or, you might try a pottery workshop, shaping clay into your next favorite piece while mellowing out with a little cannabis. The vibe is relaxed, social, and—most importantly—creative.

Why You’ll Love Cannabis Art Classes

1. Boost Your Creativity: We all know that cannabis can open up new ways of thinking. Studies show that it can enhance creative thinking, helping you come up with fresh ideas (hello, masterpiece!). Whether you’re painting or sculpting, cannabis helps you get into that flow state where you’re free to create without self-doubt. 
2. Relax and Unwind: Cannabis is known for its ability to help people relax, which is perfect for an art class where you want to escape the stress of everyday life. When you’re not stressing, you’re free to really enjoy the process, whether it’s mixing colors on a canvas or molding your perfect clay piece. 
3. Meet Cool People: Cannabis art classes often have a social component. You’ll be surrounded by like-minded people who are there to have fun, try something new, and share in the creativity. It’s a great way to meet others who share your love for cannabis and art. 

How to Sign Up for Cannabis Art Classes Online

Joining a cannabis art class is super easy! Here’s how to do it:

1. Look for Local Classes: First, start by searching for cannabis art classes in your area. Websites like Leafly and Weedmaps are great for finding local cannabis-friendly events. These sites list cannabis-infused art workshops, along with the details you need, like where to go and what to expect. 
2. Check Availability: Once you find a class that piques your interest, head over to the event’s website to check if spots are available. Some popular classes can fill up fast, so make sure to sign up early if you’ve got your eye on one. 
3. Register Online: Most cannabis art workshops use online event platforms like Eventbrite or Meetup to handle sign-ups. These platforms make it easy to book and pay for your spot. Just make sure to check the details for age restrictions or any cannabis rules (like bringing your own or using the venue’s cannabis). 
4. Get Ready: Some workshops provide everything you need—brushes, clay, paints, and all the art supplies. But it’s always a good idea to double-check what’s included so you’re fully prepared. And remember, some places will have specific rules about how and when cannabis can be consumed. 

Finding Tutorials to Get Started

If you’re new to painting or pottery, don’t worry! There are tons of online tutorials to help you ease into your new hobby before signing up for a class. You can find plenty of free tutorials on YouTube for painting (check out “The Art Sherpa” for step-by-step guides) or pottery (Skillshare and Udemy have great beginner courses).

Examples of Cannabis Art Classes

Cities like Los Angeles, Denver, and Portland are full of cannabis art classes, and they’re definitely worth checking out. In LA, Art + Cannabis offers a chill space to paint and get creative with others who love cannabis. They even have live music, so it’s more like a creative party.

In Denver, you’ll find workshops like HighArt, where you can take painting classes while being in a cannabis-friendly environment. Denver is pretty known for its cannabis culture, so these events are a great way to tap into the city’s creative vibe.

Final Thoughts

Cannabis art classes are a fun and relaxing way to get your creative juices flowing while enjoying cannabis in a welcoming environment. From painting to pottery, these workshops offer the perfect mix of creativity, community, and relaxation. So, if you’re looking to try something new, meet cool people, and maybe even discover your inner artist, a cannabis art class could be your next adventure. Just sign up, bring your good vibes, and get ready to create!

Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”), a market leader in full spectrum hemp extract wellness products, today reported financial results for the fourth quarter and year-ended December 31, 2024.

2024 Business Highlights

Achieved sequential quarterly revenue growth throughout 2024

Reduced operating expenses by over $22.4 million while strengthening operational performance

Successfully launched a new e-commerce platform with significantly enhanced capabilities

Expanded retail distribution, including 847 Walmart stores and now with a presence on Walmart.com, as well as Chewy.com, America’s largest online pet retailer

Introduced new product innovations, including functional mushroom gummies and CBD gel caps

Reduced operating expenses by over $22.4 million while strengthening operational performance

“2024 marked a turning point for Charlotte’s Web operationally as we delivered consecutive quarterly revenue growth, strengthened operations, and positioned the Company for sustained growth in 2025,” said Bill Morachnick, Chief Executive Officer of Charlotte’s Web. “With the successful launch of new product innovations, expanded retail partnerships, and transition underway to in-house manufacturing, we have laid the foundation for further strengthening the business in 2025. We’re particularly excited to announce that we will soon be offering our functional mushroom gummies on Amazon.com, representing our first meaningful presence on Amazon and introducing the Charlotte’s Web brand to millions of potential new customers. This not only diversifies our revenue streams but also reflects our commitment to access, including where consumers increasingly purchase health and wellness products. We are committed to delivering shareholder value through disciplined execution and continued expansion, evolving as a broader botanical wellness leader, beyond CBD.”

“Disciplined expense and cash flow management were top priorities throughout 2024,” added Erika Lind, Chief Financial Officer. “Our omnichannel strategy and operational optimization have been instrumental in navigating a complex regulatory environment while improving our cost structure. We executed significant expense reductions, reduced cash burn, and improved efficiencies across the business. The substantial improvement in our fourth quarter Adjusted EBITDA1 performance reflects the effectiveness of these measures, positioning us to continue reducing cash burn as we approach positive cash flow. We anticipate further improvements in 2025.”

2024 Business Review

Charlotte’s Web made significant strides in 2024, stabilizing its business and advancing strategic initiatives across product innovation, retail expansion, and operational efficiency.

Omnichannel Expansion and E-Commerce Growth
The Company’s new e-commerce platform, launched in mid-2024, improved site performance, enhanced the shopping experience and drove higher customer engagement. Advanced customer tools and marketing automation have increased conversion rates and sales volumes. New retail partnerships were added, including Walmart for topicals and Chewy.com for pet wellness products, further strengthening Charlotte’s Web’s national footprint. The transition toward an omnichannel model allows Charlotte’s Web to leverage direct-to-consumer (DTC), retail, and third-party platforms, streamlining distribution while broadening consumer accessibility.

New Product Innovations
New product innovations and categories included a successful expansion into minor cannabinoid CBN with the launch of Stay Asleep CBN Gummies, demonstrating strong demand for targeted botanical solutions and reinforcing Charlotte’s Web’s position in sleep wellness. In addition, launched in Q4 2024, Charlotte’s Web expanded into botanical wellness beyond CBD with functional mushroom gummies for focus, stress support, and energy.

Operational Efficiencies and Cost Management
Preparation for in-house manufacturing of gummies for full commercial production progressed in Q4 2024, with production ramp-up expected in 2025, improving margins and enhancing speed-to-market for future innovations. Expense reductions initiated in early 2024 materially lowered operating costs by $22.4 million, with similar spending continuing in 2025. The Company ended 2024 with $22.6 million in cash reserves, and the discipline of stringent expense management supports a strategic roadmap toward positive cash flow.

“With deeper retail penetration, new product categories, and improved operational efficiencies, we enter 2025 with momentum,” added Morachnick. “Charlotte’s Web is positioned to lead the next growth phase in botanical wellness while creating lasting value for shareholders.”

DeFloria Milestone
On February 24, 2025, the Company announced that the U.S. Food and Drug Administration (“FDA”) completed its review of the Phase 1 data and Investigational New Drug (“IND”) application submitted by DeFloria, Inc., an entity in which the Company is a stakeholder. The FDA has concluded that DeFloria may now proceed with the Phase 2 clinical trial for its botanical pharmaceutical candidate, AJA001 Oral Solution, a treatment for symptoms of autism spectrum disorder (“ASD”).

DeFloria is a collaboration between Charlotte’s Web, Ajna Biosciences, and British American Tobacco to develop AJA001 as a treatment for irritability associated with autism spectrum disorder. AJA001 employs the Company’s proprietary full-spectrum cannabidiol hemp extract derived from one of its patented cultivars. Charlotte’s Web has rights related to manufacturing for any eventual commercialization of AJA001 as an FDA-regulated botanical drug. Being the manufacturer of this product could represent a substantial long-term revenue opportunity for Charlotte’s Web upon potential FDA approval.

Financial Review

The following table sets forth selected financial information for the periods indicated:

Three months ended

Year ended

December 31,

December 31,

U.S. $ millions, except per share data

2024

2023

2024

2023

Revenue

$ 12.7

$ 15.9

$ 49.7

$ 63.2

Cost of goods sold

$ 7.6

$ 7.0

$ 28.4

$ 27.6

Gross profit

5.1

8.9

21.3

35.6

Selling, general and administrative expenses

10.6

18.6

53.3

75.6

Goodwill and asset impairments

–

0.6

–

0.6

Operating loss

(5.5)

(10.3)

(32.0)

(40.6)

Gain on initial investment in unconsolidated entity

–

–

–

10.7

Change in fair value of financial instruments and other

(0.1)

3.7

0.6

9.3

Other income (expense) , net

2.2

(1.4)

1.6

(2.7)

Income tax expense

–

(0.5)

–

(0.5)

Net loss

$ (3.4)

$ (8.5)

$ (29.8)

$ (23.8)

EPS basic and diluted

$ (0.02)

$ (0.06)

$ (0.19)

$ (0.16)

Adjusted EBITDA

$ 0.3

$ (6.5)

$ (12.6)

$ (22.7)

Assets:

Dec 31, 2024

Dec 31, 2023

Cash and cash equivalents

$ 22.6

$ 47.8

Total assets

$ 113.4

$ 152.5

Liabilities:

Long-term liabilities

$ 70.4

$ 73.3

Total liabilities

$ 86.4

$ 97.0

Fourth Quarter 2024 Financial Review

Consolidated net revenue for the fourth quarter ended December 31, 2024, was $12.7 million, compared to $15.9 million in the fourth quarter of 2023. Revenue increased modestly on a quarter-over-quarter basis versus Q3 2024 revenue of $12.6 million.

Quarterly revenue trend for 2024:

Q1

Q2

Q3

Q4

U.S. $ millions

2024

2024

2024

2024

Total revenue

$ 12.1

$ 12.3

$ 12.6

$ 12.7

In the fourth quarter, some retailers were negatively impacted by state regulations restricting the sale of certain CBD products, despite meeting federal requirements. However, e-commerce revenue increased quarter-over-quarter following the launch of the Company’s new e-commerce platform.

Gross Profit in Q4 2024 was $5.1 million, or 40.2% of revenue, compared to Gross Profit of $8.9 million, or 56.0% of revenue, in Q4 2023. The reduction in gross margin reflected holiday promotional investments, temporary shipping inefficiencies, and reduced fixed cost absorption on lower-than-expected revenue. The Company models gross margin to return above 50% in 2025.

Total selling, general, and administrative (“SG&A”) expenses in the quarter were $10.6 million, a 43% improvement from $18.6 million in Q4 2023. Stringent expense controls were implemented during the year to better align with current revenue levels.

Net loss for the fourth quarter of 2024 was $3.4 million, or ($0.02) per share basic and diluted, compared to a net loss of $8.5 million, or ($0.06) per share basic and diluted, for the fourth quarter of 2023.

Excluding depreciation, amortization and other non-cash items, Charlotte’s Web reported positive Adjusted EBITDA1 for the fourth quarter of 2024 of $0.3 million, a $6.8 million improvement compared to negative Adjusted EBITDA of $6.5 million in the fourth quarter of 2023.

Fiscal Year 2024 Financial Review
On a year-over-year basis, consolidated net revenue for the twelve months ended December 31, 2024, was $49.7 million, a decrease of 21.4% from $63.2 million in 2023. Revenue was negatively impacted by inflationary impacts on consumer spending and reduced retailer shelf allocations to the CBD category. The Company adopted a new e-commerce platform mid-year that has resulted in improving marketing, customer management, and sales volumes.

Gross profit for the year ended December 31, 2024, was $21.3 million, compared to $35.6 million for the year ended December 31, 2023. Gross profit was negatively impacted by a $4.1 million increase in inventory provision for 2024 due to the revaluation of aged hemp based on current market conditions. The increase was partially offset by lower inventory expenses and other variable costs associated with lower revenue in 2024. Gross profit before inventory provision was $25.4 million, or 51.1%, and $36.6 million, or 58.0%, in 2024 and 2023, respectively.

Total SG&A expense for 2024 was $53.3 million, compared to $75.6 million in the prior year. The $22.4 million or 29.6% decrease resulted from multiple actions taken in 2024 to reduce operating expenses and better align SG&A against the lower revenue levels, including workforce and insurance program adjustments, contract reviews and negotiations, and software optimizations. Additionally, in 2024, the Company amended its MLB Promotional Rights Agreement, resulting in a decrease in amortization and media expense related to MLB assets of approximately $4.9 million compared to 2023.

An operating loss of $32 million in 2024 improved 21.2% from an operating loss of $40.6 million in 2023. Net loss for 2024 was $29.8 million, or $(0.19) per share, basic and diluted, compared to a net loss of $23.8 million, or $(0.16) per share, basic and diluted, in 2023. The lower net loss in 2023 was due to a combined net gain of $20.0 million in that year in the fair value of the Company’s debt derivative and from its investment in DeFloria.

Excluding depreciation, amortization, and interest, the EBITDA1 loss for 2024 was $17.6 million, as compared to an EBITDA loss of $6.3 million for 2023. 2024 included a higher inventory provision than 2023, which included the combined net gain of $20.0 million in fair value of the Company’s debt derivative and from its investment in DeFloria. Excluding these items, the Adjusted EBITDA1 loss was $12.6 million for 2024, as compared to the Adjusted EBITDA loss of $22.7 million for 2023.

Balance Sheet and Cash Flow
Net cash used for operations in the fourth quarter of 2024 was $1.8 million. Net cash used for operations in the year ended December 31, 2024, was $21.2 million, including cash paid to MLB for license and media rights assets of $5 million. Capital expenditures of $3.9 million were primarily used for the in-house production of topical and gummy projects.

The Company’s cash and working capital as of December 31, 2024, were $22.6 million and $31.1 million, respectively, compared to $47.8 million and $54.5 million as of December 31, 2023, respectively.

“With reduced cash burn, having cash reserves exceeding $22 million provides the runway for 2025 growth and beyond,” said Mrs. Lind. “In-house production will increase in 2025, and continued expense discipline is key to stabilizing our financial position.”

Consolidated Financial Statements and Management’s Discussion and Analysis
The Company’s audited consolidated financial statements and accompanying notes for the three and twelve-month periods ended December 31, 2024, and 2023, and related management’s discussion and analysis of financial condition and results of operations (“MD&A”), are reported in the Company’s 10-K filing on the Securities and Exchange Commission website at www.sec.gov and on SEDAR+ at www.sedarplus.ca and will be available on the Investor Relations section of the Company’s website at https://investors.charlottesweb.com.

Analyst Conference Call
Management will host a conference call to discuss the Company’s 2024 fourth quarter and year-end results at 11:00 A.M. ET on March 19, 2025.

There are three ways to join the call:

Register and enter your phone number at https://emportal.ink/3EK35Bz to receive an instant automated call back, or

Dial 1-646-357-8785 or 1-800-836-8184 approximately 10 minutes before the conference call, or

Listen to the live webcast online.

Earnings Call Replay
A recording of the call will be available through March 26, 2025. To listen to a replay of the earnings call, please dial 1- 646-517-4150 or 1-888-660-6345 and provide conference replay ID 90317#. A webcast of the call will also be accessible through the investor relations section of the Company’s website for an extended period of time.

Subscribe to Charlotte’s Web investor news.

About Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc., a Certified B Corporation headquartered in Louisville, Colorado, is the market leader in innovative hemp extract wellness products that include Charlotte’s Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD certified NSF for Sport®. Charlotte’s Web branded premium quality full-spectrum CBD extract products start with proprietary hemp genetics that are North American farm-grown using organic and regenerative cultivation practices. The Company’s hemp extracts have naturally occurring botanical compounds including cannabidiol (“CBD”), CBN, CBC, CBG, terpenes, flavonoids, and other beneficial compounds. Charlotte’s Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, functional mushroom gummies, CBD capsules, CBD topical creams, and lotions, as well as CBD pet products for dogs. Through its substantially vertically integrated business model, Charlotte’s Web maintains stringent control over product quality and consistency with analytic testing from soil to shelf for quality assurance. Charlotte’s Web products are distributed to retailers and healthcare practitioners throughout the U.S.A. and online through the Company’s website at www.charlottesweb.com.

Shares of Charlotte’s Web trade on the Toronto Stock Exchange (TSX) under the symbol “CWEB” and are quoted in U.S. Dollars in the United States on the OTCQX under the symbol “CWBHF”.

Charlotte’s Web is the official CBD of Major League Baseball©.

© Major League Baseball trademarks and copyrights are used with permission of Major League Baseball. Visit MLB.com.

(1)

Non-GAAP Measures: The press release contains non-GAAP measures, including EBITDA and Adjusted EBITDA. Please refer to the section in the tables captioned “Non-GAAP Measures” below for additional information and a reconciliation to GAAP for all Non-GAAP metrics.

Forward-Looking Information
Certain information provided herein constitutes forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements are typically identified by words such as “may”, “will”, “should”, “could”, “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “target”, “believe” and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. The forward-looking statements contained in this press release are based on certain assumptions and analysis by management of the Company in light of its experience and perception of historical trends, current conditions and expected future development and other factors that it believes are appropriate and reasonable.

Specifically, this press release contains forward-looking statements relating to, but not limited to: organizational changes, marketing plans and operational platform upgrades, and the impact of these initiatives on retail expansion, operational efficiencies, cash flow,‎ revenue and e-commerce monetization; expectations relating to IT upgrades, marketing optimization and operational integrations; product expansion activities and the corresponding ‎results thereof; sales volume ad gross margin expectations; anticipated timing for, and business impact of, in-house manufacturing of topical ‎and gummy products; ‎the impact of the Company’s product innovations on product development; regulatory developments and the impact of developments on both consumer action and the Company’s opportunities and operations; activities relating to, and sponsorship of, legislation to advance regulatory framework; the impact of insourcing on operating margins, capital expenditures and R&D; anticipated consumer trends and corresponding product innovation; anticipated future financial results; the impact of the Company’s partnership with the MLB and PLL on the Company’s exposure and sales; the Company’s ability to increase online traffic and demographic exposure through new products and marketing; and the impact of certain activities on the Company’s business and financial condition and anticipated trajectory.

The material factors and assumptions used to develop the forward-looking statements herein include, but are not limited to: regulatory regime changes; anticipated product development and sales; the success of sales and marketing activities; product development and production expectations; outcomes from R&D activities; the Company’s ability to deal with adverse growing conditions in a timely and cost-effective manner; the availability of qualified and cost-effective human resources; compliance with contractual and regulatory obligations and requirements; availability of adequate liquidity and capital to support operations and business plans; and expectations around consumer product demand. In addition, the forward-looking statements are subject to risks and uncertainties pertaining to, among other things: supply and distribution chains; the market for the Company’s products; revenue fluctuations; regulatory changes; loss of customers and retail partners; retention and availability of talent; competing products; share price volatility; loss of proprietary information; product acceptance; internet and system infrastructure functionality; information technology security; available capital to fund operations and business plans; crop risk; economic and political considerations; and including but not limited to those risks and uncertainties discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ending December 31, 2024, and other risk factors contained in other filings with the Securities and Exchange Commission available on www.sec.gov and filings with Canadian securities regulatory authorities available on www.sedarplus.ca. The impact of any one risk, uncertainty, or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent, and the Company’s future course of action depends on management’s assessment of all information available at the relevant time.

Any forward-looking statement in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable law, the Company assumes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. All forward-looking statements, whether written or oral, attributable to the Company or persons acting on the Company’s behalf, are expressly qualified in their entirety by these cautionary statements.

CHARLOTTE’S WEB HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands of U.S. dollars, except share and per share amounts)

December 31,

2024

2023

ASSETS

Current assets:

Cash and cash equivalents

$ 22,618

$ 47,820

Accounts receivable, net

1,263

1,950

Inventories, net

18,907

21,538

Prepaid expenses and other current assets

4,194

6,864

Total current assets

46,982

78,172

Property and equipment, net

26,337

27,513

License and media rights

13,691

17,070

Operating lease right-of-use assets, net

12,876

14,601

Investment in unconsolidated entity

10,800

11,000

SBH purchase option and other derivative assets

1,075

2,602

Intangible assets, net

1,049

887

Other long-term assets

632

703

Total assets

$ 113,442

$ 152,548

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$ 3,426

$ 2,860

Accrued and other current liabilities

5,246

8,682

Lease obligations – current

2,055

2,252

License and media rights payable – current

5,209

9,852

Total current liabilities

15,936

23,646

Convertible debenture

43,631

42,528

Lease obligations

13,652

15,655

License and media rights payable

11,809

11,338

Derivative and other long-term liabilities

1,327

3,823

Total liabilities

86,355

96,990

Commitments and contingencies

Shareholders’ equity:

Common shares, nil par value; unlimited shares authorized; 158,009,541 and 154,332,366 shares issued and outstanding as of December 31, 2024 and 2023, respectively

1

1

Additional paid-in capital

328,655

327,280

Accumulated deficit

(301,569)

(271,723)

Total shareholders’ equity

27,087

55,558

Total liabilities and shareholders’ equity

$ 113,442

$ 152,548

CHARLOTTE’S WEB HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands of U.S. dollars, except share and per share amounts)

Year Ended December 31,

2024

2023

Revenue

$ 49,667

$ 63,155

Cost of goods sold

28,407

27,589

Gross profit

21,260

35,566

Selling, general and administrative expenses

53,247

75,630

Asset impairment

—

548

Operating loss

(31,987)

(40,612)

Gain on initial investment in unconsolidated entity

—

10,700

Change in fair value of financial instruments

615

9,339

Other income (expense), net

1,565

(2,694)

Loss before provision for income taxes

$ (29,807)

$ (23,267)

Income tax expense

(39)

(529)

Net loss

$ (29,846)

$ (23,796)

Per common share amounts

Net loss per common share, basic and diluted

$ (0.19)

$ (0.16)

CHARLOTTE’S WEB HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(in thousands of U.S. dollars, except share amounts)

Common Shares

Additional
Paid-in
Capital

Accumulated
Deficit

Total
Shareholders’
Equity

Shares

Amount

Balance—December 31, 2022

152,135,026

$ 1

$ 325,431

$ (247,927)

$ 77,505

Common shares issued upon vesting of restricted share units, net of withholdings

2,197,340

—

(251)

—

(251)

Share-based compensation

—

—

2,100

—

2,100

Net loss

—

—

—

(23,796)

(23,796)

Balance—December 31, 2023

154,332,366

$ 1

$ 327,280

$ (271,723)

$ 55,558

Common shares issued upon vesting of restricted share units, net of withholding

3,677,175

—

(145)

—

(145)

Share-based compensation

—

—

1,520

—

1,520

Net loss

—

—

—

(29,846)

(29,846)

Balance—December 31, 2024

158,009,541

$ 1

$ 328,655

$ (301,569)

$ 27,087

CHARLOTTE’S WEB HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands of U.S. dollars)

Year Ended December 31,

2024

2023

Cash flows from operating activities:

Net loss

$ (29,846)

$ (23,796)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

9,979

15,160

Change in fair value of financial instruments

(615)

(9,339)

Gain on initial investment in unconsolidated entity

—

(10,700)

Convertible debenture and other accrued interest

3,724

3,857

Gain on foreign currency transaction

(3,631)

1,142

Share-based compensation

1,520

2,100

Changes in right-of-use assets

1,771

1,918

Allowance for credit losses

140

1,240

Inventory provision

4,154

1,039

Asset impairment

—

548

Other

611

3,313

Changes in operating assets and liabilities:

Accounts receivable, net

361

(809)

Inventories, net

(1,520)

4,376

Prepaid expenses and other current assets

1,332

85

Operating lease obligations

(2,247)

(2,304)

Accounts payable, accrued and other liabilities

(1,664)

151

License and media rights payable

(5,000)

(8,000)

Income tax and other receivable

—

4,261

Other operating assets and liabilities, net

(330)

372

Net cash used in operating activities

(21,261)

(15,386)

Cash flows from investing activities:

Purchases of property and equipment and intangible assets

(3,851)

(3,691)

Proceeds from sale of assets

55

185

Net cash provided by/(used in) investing activities

(3,796)

(3,506)

Cash flows from financing activities:

Other financing activities

(145)

(251)

Net cash used in financing activities

(145)

(251)

Net decrease in cash and cash equivalents

(25,202)

(19,143)

Cash and cash equivalents —beginning of year

47,820

66,963

Cash and cash equivalents —end of year

$ 22,618

$ 47,820

Non-cash activities:

Non-cash issuance of note receivable

—

(170)

Non-cash purchases of property and equipment and intangibles

(3)

(233)

(1) Non-GAAP Measures – EBITDA and Adjusted EBITDA
Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) is not a recognized performance measure under U.S. GAAP. The term EBITDA consists of net loss and excludes interest, taxes, depreciation, and amortization. Adjusted EBITDA also excludes other non-cash items such as changes in fair value of financial instruments (Mark-to-Market), Share-based compensation, and impairment of assets. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP. The non-GAAP financials measures do not have a standardized meaning prescribed under U.S. GAAP and therefore may not be comparable to similar measures presented by other issuers. The primary purpose of using non-GAAP financial measures is to provide supplemental information that we believe may be useful to investors and to enable investors to evaluate our results in the same way we do. We also present the non-GAAP financial measures because we believe they assist investors in comparing our performance across reporting periods on a consistent basis, as well as comparing our results against the results of other companies, by excluding items that we do not believe are indicative of our core operating performance. Specifically, we use these non-GAAP measures as measures of operating performance; to prepare our annual operating budget; to allocate resources to enhance the financial performance of our business; to evaluate the effectiveness of our business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of our results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communications with our board of directors concerning our financial performance. Investors should be aware, however, that not all companies define these non-GAAP measures consistently.

(1)

EBITDA and Adjusted EBITDA are non-GAAP financial measures with reconciliations provided in the table below:

Adjusted EBITDA for the three and twelve months ended December 31, 2024, and 2023 is as follows:

Charlotte’s Web Holdings, Inc.

Statement of Adjusted EBITDA

(In Thousands)

Three Months Ended

Year Ended

December 31,

December 31,

(unaudited)

(audited)

U.S. $ Thousands

2024

2023

2024

2023

Net loss

$ (3,371)

$ (8,589)

$ (29,846)

$ (23,796)

Depreciation of property and equipment and amortization of intangibles

2,473

3,650

9,979

15,160

Interest (income) expense

643

350

2,201

1,786

Income tax expense

(22)

529

39

529

EBITDA

(277)

(4,060)

(17,627)

(6,321)

Stock Comp

223

454

1,520

2,100

Mark-to-market financial instruments

86

(3,752)

(615)

(9,339)

Impairment

–

548

–

548

Inventory Provision

228

309

4,154

1,039

Initial gain on investment in DeFloria

–

–

–

(10,700)

Adjusted EBITDA

$ 260

$ (6,501)

$ (12,568)

$ (22,673)

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SOURCE Charlotte’s Web Holdings, Inc.

The post Charlotte’s Web Holdings, Inc. (CWBHF) Reports 2024 Fourth Quarter and Year-End Financial Results appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry..

Marijuana stocks have been facing a downward trend in the market for some time. A big reason is regulatory uncertainty and reform issues. Legislative changes, particularly in major markets like the U.S., can greatly affect how shareholders think. Additionally, oversupply in certain regions has led to falling prices, which negatively affects revenue for companies in the sector. This has created a volatile sector where the trading behavior of the most public companies is more on the low end.

Yet this has also been an optimistic time where due to how low the sector is can be seen as a buying opportunity. Many see the future of cannabis as where the gains will lie. Although most of the cannabis sector is not trading well the industry as a whole is thriving. The cannabis industry continues to grow and show progress. In recent earning reports, most companies were able to show stronger profits and company gains. Still, this has not added much momentum to the public sector.

So with this most shareholders are preparing for the future and waiting for the moment to take profits. Now is a good time to do your research and follow the sector as much as you can. With cannabis still, a fairly young developing industry things can change for the better at any time. Below are several marijuana stocks to watch in today’s stock market.

Marijuana Stocks For Your 2025 Watch List

1. Aurora Cannabis Inc. (NASDAQ:ACB)
2. SNDL Inc. (NASDAQ:SNDL)
3. Cronos Group Inc. (NASDAQ:CRON)

Aurora Cannabis Inc.

Aurora Cannabis Inc., together with its subsidiaries, engages in the production, distribution, and sale of cannabis and cannabis derivative products in Canada and internationally. It has been some time since the company has released news.

Yet back on February 20th, 2025 the company announced the company’s extended pastille offerings in Australia. This development marks another meaningful step in Aurora’s deep commitment to offering patients premium medical cannabis products.

SNDL Inc.

SNDL Inc. engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. In recent news, the company announced its Q4 2024 and full-year earnings.

Highlights And Key Mentions

• Net revenue for the fourth quarter of 2024 was $257.7 million, and $920.4 million for the full year of 2024,
• Gross profit also reached new records, with $68.8 million in the fourth quarter of 2024, and $240.3 million for the full year.
• Gross margin (1) of 26.7% in the fourth quarter of 2024 and 26.1% for the full year are also new records.
• Operating loss was $(76.1) million for the fourth quarter of 2024, driven by a negative valuation adjustment of the SunStream portfolio of $(65.7) million.
• Free cash flow (1) was positive both in the fourth quarter of 2024, at $11.6 million, and for the full year, at $8.9 million.

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Cronos Group Inc.

Cronos Group Inc. operates as a cannabinoid company that engages in the cultivation, production, and marketing of cannabis products in Canada, Israel, and Germany.

Recently the company announced the appointment of Anna Shlimak as CFO. Ms. Shlimak, who previously served as Cronos’ Chief Strategy Officer, will succeed James Holm.

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Words From The Company

“I am incredibly pleased Anna Shlimak is stepping into the Chief Financial Officer role,” said Mike Gorenstein, President and Chief Executive Officer, Cronos. “Anna has been an essential part of our senior leadership team.

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