By now you’ve probably noticed that most cannabis-related businesses are a lot better at raising money than they are at making it. Cannabis companies have started holding conference calls to discuss the three-month period ended June, and so far only a handful have reported a profit.
How did these three report an operating profit while most of their peers lost money? Let’s take a closer look at the way they’re making money now to see if they can keep it up.
1. MariMed: This isn’t going to work much longer
This cannabis producer squeezed out the largest adjusted operating profit in the second quarter, but the means by which it accomplished this feat isn’t going to work forever. MariMed’s still transitioning from its former role as an advisory firm for smaller canna-businesses to a seed-to-sale operator and hemp seed wholesaler.
In the first half of the year, MariMed spent $20