A complete overview of an iAnthus competitor.. iAnthus has many competitors within the tight US operator space - however, there is one that has taken the business model that Hadley originally envisioned. They’ve since ran with it and built it into a successful operation based out of Colorado. Here’s our thesis on the company..
We can break the investment thesis for Cannabis One Holdings (CSE: CBIS) into the following key points:
- Cannabis One has extensive experience operating in the most mature and competitive markets in the US.
- These markets over time have proven to be largely fragmented and saturated.
- Branding is the key to being successful within fragmented and saturated markets.
- The company has established itself as a “House of Brands” within the cannabis industry; acquiring a portfolio of top manufacturers and dispensaries in the most competitive states.
- Using synergies, economies of scale and best practices CBIS will roll up dispensaries across the West Coast under Leafly’s number one ranked Colorado dispensary “The Joint.”
- In addition to their already established wholesale channels, CBIS will have 25 operating dispensaries under “The Joint” banner. This would put them in line with many other MSOs in terms of operating stores.
- The company currently does not have an East Coast footprint, providing an opportunity for significant catalysts in the coming months.
- Cannabis One has conservatively estimated system wide revenue of US$116MM for 2019, and US$289MM for 2020, which puts them at under 2x sales prior to completing the acquisitions(3/31/2019).