- Q3/21 EBITDA miss on delayed product approval in PA, MA cultivation underperformance and inflated freight costs.
- Expect freight costs to linger into ’22.
- Management reduced ’21 adjusted EBITDA guidance by nearly 20% at midpoint while stating that revenues would come in at low end of range.
- Maintain positive outlook for ’22 on scaling revenues and enhanced margins on greater proportion of branded product sales.
- Shinnecock Nation agreement in NY offers potential for meaningful growth.
For further details see:
TILT Holdings: Near-Term Headwinds With Jupiter Shipping Costs