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TILT Holdings: Long-Term Opportunity Intact; Expect 1H/22 Pressures And Likely To Need Capital

Apr. 01, 2022 11:36 AM ETTILT Holdings Inc. (TLLTF)2 Comments
Jon DeCourcey profile picture
Jon DeCourcey


  • Modest Q4 miss on pricing pressure and some reduced hardware spending.
  • ’22 guidance was lower than expected on macro pressures. Believe there are sources of upside beyond targets.
  • Remain positive on brand partnership strategy and expect to bear greater fruit on scaled cultivation/production capacity and as pricing pressure impacts East Coast markets.
  • Shinnecock Nation agreement (in NY) offers potential formeaningful growth.
  • Cash an issue. Expect companywill have to complete financing to fund NY expansion and loomingdebt issues. Confident that non-dilutive sources of financing areobtainable.

Scientist testing medical marijuana. Charts and models on computer screens. Modern laboratory interior

janiecbros/E+ via Getty Images

TILT Holdings (OTCQX:TLLTF) reported Q4/21 revenues of $54.1M and $4.8M in adjusted EBITDA. Both came in modestly below our estimates ($57M/$6.8M) and guidance of $56M/$7M. The underperformance can be attributed to more cautious customer spending on hardware inventory for 1H/22 along


This article was written by

Jon DeCourcey profile picture
Jon Decourcey joined Viridian Capital Advisors as Director of Equity Research in November 2020. Prior to this, Mr. Decourcey worked for the Canaccord Genuity equity research team in 2014, initially in the Infrastructure and Manufacturing Technology sector, and since 2018, with a focus on the Cannabis sector. There, he was responsible for the research coverage of public companies involved in the U.S. cannabis industry, from vertically integrated cannabis operators, to branded products manufacturers and ancillary service providers. He also developed and maintained proprietary market forecast models for the U.S. cannabis and hemp-derived CBD markets overall, and for specific states individually.

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Comments (2)

snosaint profile picture
Long term opportunity??? So if i wait longer i might be able to buy it at at 10 cents a share and therefore only lose 10 cents a share when it does the goldfish thing?
OneStrawRevolutionFarming2023 profile picture
If as patients we do not grind our flower and instead delicately break it apart

and then make a polyculture preroll

inclusive of many medicinal THC flowers and
CBD flowers and
CBG flowers

(CBG is anti-tumoral and a hedge for safety and probably needs to be in EVERY flower preroll for that reason alone)

then the spaces between the small pieces of flower in the preroll

allow for a vaporizer action

as we draw air through the preroll :-)

So, WHY would people spend lavishly on vape tech.

when we can still vape even without the tech. :-)
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