Welcome to our dedicated page for Fluent news (Ticker: CNTMF), a resource for investors and traders seeking the latest updates and insights on Fluent stock.
About Fluent Corp (CNTMF)
Fluent Corp (formerly Cansortium Inc.) is a vertically integrated, multi-state cannabis company operating under the renowned FLUENT™ brand. Headquartered in Tampa, Florida, Fluent Corp is dedicated to delivering high-quality cannabis products through its comprehensive value chain, which spans cultivation, production, distribution, and retail. With licenses and operations in Florida, Pennsylvania, Texas, and New York, the company caters to both medical marijuana patients and adult-use consumers, offering a diverse portfolio of premium cannabis products tailored to meet varying needs and preferences.
Core Operations and Business Model
Fluent Corp’s vertically integrated model ensures strict quality control at every stage of its operations. The company oversees the cultivation of cannabis in state-of-the-art facilities, utilizing advanced techniques to optimize product quality and yield. This is followed by in-house production processes that focus on creating a wide range of cannabis products, including flower, concentrates, edibles, tinctures, and cartridges. Fluent’s retail network, which includes dispensaries operating under the FLUENT™ brand, provides a welcoming environment with knowledgeable staff to guide customers in selecting the best products for their needs. Additionally, the company leverages online ordering and express pickup services to enhance customer convenience.
Market Presence and Expansion
Fluent Corp has established a strong foothold in key markets, particularly in Florida, where it operates an extensive network of dispensaries. The company continues to expand its reach, with plans to open new locations and introduce innovative product lines. Recent initiatives include the launch of the Hyer Kind concentrates brand, the MOODS product line tailored to specific experiences, and the KNACK flower brand, which emphasizes locally grown, high-quality cannabis. Fluent’s commitment to scalability is further demonstrated by its strategic business combination with RIV Capital Inc., positioning it as a significant player in the evolving U.S. cannabis industry.
Commitment to Quality and Innovation
Fluent Corp is driven by an unwavering commitment to operational excellence and innovation. The company employs cutting-edge cultivation and extraction techniques to produce premium cannabis products that prioritize flavor, potency, and accessibility. Its product portfolio is designed to cater to a wide range of consumer preferences, from medical patients seeking therapeutic benefits to recreational users exploring curated cannabis experiences. By continuously expanding its offerings and introducing new formats, Fluent ensures it remains at the forefront of industry trends.
Regulatory and Industry Context
Operating within the highly regulated U.S. cannabis market, Fluent Corp navigates complex state and federal laws to deliver compliant and reliable products. While cannabis remains a Schedule I substance under federal law, the company’s adherence to state regulations and its focus on medical and adult-use markets position it as a trusted operator. Fluent’s proactive approach to compliance, coupled with its strategic partnerships and acquisitions, enables it to adapt to evolving regulatory landscapes while driving growth and profitability.
Strategic Vision
Fluent Corp’s strategic vision is centered on becoming a leading multi-state cannabis operator with a strong brand portfolio and a commitment to community engagement. The company’s recent rebranding and corporate name change reflect its alignment with its operational footprint and growth ambitions. Fluent continues to invest in its infrastructure, expand its retail presence, and enhance its product offerings to meet the needs of a diverse customer base. By prioritizing quality, innovation, and customer experience, Fluent aims to build long-term value for its stakeholders.
Cansortium (CSE: TIUM.U, OTCQB: CNTMF) reported a 14% YoY increase in Q1 2024 revenue to $25.2 million, marking its 10th consecutive quarter of positive cash flow.
Florida revenue rose 16% to $21.1 million. Adjusted gross profit was $12.3 million, representing 48.6% of revenue, up from $10.2 million or 46.4% YoY. Adjusted EBITDA increased to $6.8 million from $5.8 million. Cash flow from operations was $4.1 million, down from $5.1 million a year ago.
The company holds $8.5 million in cash and $62.9 million in debt, with 300 million shares outstanding. Key developments include a new cultivation facility in Tampa, the anticipated opening of three more dispensaries in Florida by year-end, and a business combination with RIV Capital.
Cansortium (CSE: TIUM.U, OTCQB: CNTMF) and RIV Capital (CSE: RIV, OTC: CNPOF) announced a definitive agreement for a business combination. Under this Arrangement Agreement, Cansortium will acquire all outstanding shares of RIV Capital. Shareholders of Cansortium will own approximately 51.25% of the combined entity, while RIV Capital shareholders and The Hawthorne Collective will hold 48.75%. The merger will enhance the combined company's presence in Florida, New York, Texas, and Pennsylvania and aims to eliminate $175 million of debt. The combined entity will have a pro forma cash balance of $74 million, with anticipated annual cost synergies of $5-10 million. The transaction is expected to close in Q4 2024, subject to regulatory and shareholder approvals.
Cansortium, operating under the FLUENT brand, announced a change in its Chief Financial Officer (CFO) position. Jeffrey Batliner resigned as CFO effective May 13, 2024. Patricia Fonseca has been re-appointed as the CFO, effective immediately. Ms. Fonseca previously served as the company's CFO from March 9, 2021, to November 21, 2022.
The company and its board of directors expressed gratitude to Mr. Batliner for his contributions and extended best wishes for his future endeavors.
Cansortium Inc. reported strong financial results for Q4 and full year 2023, with record revenue, positive cash flow, and growth in key markets. Revenue increased 9% YoY to $25.5 million in Q4 and 11% to $97.3 million for the full year. Adjusted gross profit was $49.5 million, with $27.2 million in adjusted EBITDA for the year. The Company remains focused on operational improvements, expansion in Florida and Pennsylvania, and growth in Texas.
FAQ
What is the current stock price of Fluent (CNTMF)?
What is the market cap of Fluent (CNTMF)?
What does Fluent Corp (CNTMF) do?
Where does Fluent Corp operate?
What is Fluent Corp's business model?
What makes Fluent Corp unique in the cannabis industry?
What are Fluent Corp's key product offerings?
Is Fluent Corp involved in both medical and adult-use cannabis markets?
How does Fluent Corp ensure product quality?
What is Fluent Corp's growth strategy?
What is the significance of Fluent Corp's recent rebranding?
How does Fluent Corp navigate regulatory challenges in the cannabis industry?
