Industry Proficiency: Big Cannabis Companies Are Getting Better At Costs, Here’s How
Most financial results for cannabis companies in the second quarter of 2024 are here, and they are revealing some interesting trends. One of them is that U.S. multi-state operators (MSOs) are getting better at cutting costs and efficiency in the supply chain.
It’s no surprise that MSOs have been navigating turbulent times, and showing remarkable resilience. Despite facing pressure from lower wholesale prices, growing competition in retail and extra taxation, most of these companies have managed to maintain, and in some cases, improve their costs performance.
Financial Details
According to data analyzed by Viridian, six out of the top eight MSOs reduced their cost of goods sold (COGS) as a percentage of revenue compared to last year. This reduction shows that these companies are managing production costs more efficiently, even amid challenges. The comparison included Green Thumb Industries (OTC:GTBIF), Curaleaf (OTC:CURLF), Trulieve …