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STEM Holdings, Inc. (STMH) is a vertically integrated cannabis operating company headquartered in Boca Raton, Florida. Established in 2016, the company has grown to become a key player in the cannabis industry, focusing on the production, distribution, and sale of cannabis and cannabis-infused products across various states. The company's operations span across Oregon, Nevada, California, Massachusetts, Maryland, and Oklahoma.
STEM Holdings, Inc. operates through a robust business model which involves purchasing, improving, leasing, operating, and investing in properties intended for cannabis production and distribution. As of September 30, 2020, the company holds ownership interests in 22 state-issued cannabis licenses, including 9 for cannabis cultivation, 3 for cannabis production, 5 for cannabis processing, 1 for cannabis wholesale distribution, 1 for hemp production, and 10 for cannabis dispensaries. These licenses enable the company to maintain a significant presence in the cannabis market and support its vertically integrated operations.
Recent achievements for STEM Holdings, Inc. include expanding its portfolio of licenses and enhancing its production capabilities. The company continues to work on various projects aimed at consolidating its market position and increasing its production and distribution efficiency. Financially, STEM Holdings, Inc. remains committed to optimizing its operations and exploring new opportunities for growth through strategic partnerships and investments.
For investors and stakeholders, STEM Holdings, Inc. represents a comprehensive approach to the cannabis industry, balancing production, distribution, and retail to maximize value. The company is continually advancing towards its goal of becoming a leading cannabis operator, leveraging its licenses and expertise to deliver high-quality products to the market.
Stay updated with the latest news and developments from STEM Holdings, Inc. to ensure you have the most current information about the company's performance and strategic initiatives.
Stem Holdings, Inc. has officially launched its Budee™ cannabis e-commerce and delivery platform in Oregon, marking its first expansion outside California. Budee™ provides express delivery of best-selling cannabis products in under 60 minutes across Greater Metro Portland, with plans for a rollout in Eugene in October. Oregon's cannabis market exceeded $1 billion in sales in 2020, driven by pandemic-related demand. The company aims to integrate its delivery service to enhance customer experiences and expects significant growth, leveraging its established operations in California.
Stem Holdings, a multi-state, vertically integrated cannabis company (OTCQX: STMH), announced the availability of its virtual roadshow presentation on ChannelChek. CEO Adam Berk discussed the company's Farm-to-Home strategy and plans for organic and acquisitive growth. Stem Holdings features a proprietary Delivery-as-a-Service marketplace and operates various award-winning brands such as TJ's Gardens and Cannavore. The company emphasizes its integrated operations across cultivation, processing, and retail.
Stem Holdings (OTCQX:STMH) and Tinley Beverage Company have integrated their technologies to facilitate home delivery of cannabis-infused beverages across California. This partnership leverages Stem’s Budee delivery network, reaching 92% of the state’s population within two hours. Customers can order directly from Tinley’s website for seamless delivery. The collaboration aims to expand access to cannabis through beverage-specific online portals, targeting new consumers who prefer non-smoking options. This initiative is a strategic move to capitalize on the growing market for cannabis beverages.
Stem Holdings, d/b/a Driven By Stem, reported record gross revenue of $12.4 million for Q1 2021, up from $2.7 million in Q1 2020. Gross profit surged 269% to $2.7 million, with retail revenue comps increasing 49.5% year-over-year. The company is expanding its Budee delivery service into Oregon and plans a new retail dispensary in Michigan by September 2021. Adjusted EBITDA rose to $1.7 million, and a public offering raised C$10.3 million. Management is optimistic about continued growth through expanded market share and product offerings.
Stem Holdings, operating under the brand Driven by Stem (OTCQX: STMH CSE:STEM), is scheduled to present virtually at the 2021 Canaccord Genuity Virtual Cannabis Conference on May 11 at 10:00 a.m. ET. The event will highlight leading players in the cannabis sector, with a webcast available on the company's website. Stem Holdings focuses on a vertically integrated Farm-to-Home cultivation model, offering innovative cannabis products and technology. Known for its award-winning brands, it emphasizes direct-to-consumer logistics and an omnichannel user experience.
Stem Holdings, Inc. (OTCQX: STMH) is expanding its presence in the cannabis market by opening a new dispensary in Kalamazoo, Michigan, in partnership with Organic Guyz. This will be Stem's second branded dispensary and aims to meet increasing demand for cannabis delivery, particularly in a state where cannabis sales surged 179% last year. The new 2500-square-foot dispensary is part of a broader strategy to tap into Michigan's growing market, projected to reach $1.2 billion in sales next year. Stem also plans to introduce its Budee e-commerce platform to service Michigan.
On April 19, 2021, Stem Holdings (OTCQX: STMH) announced its participation in two upcoming investor events on April 20, in celebration of '4/20', the unofficial cannabis holiday. CEO Adam Berk will present at VirtualInvestorConferences.com at 2:30 PM ET and participate in the Planet MicroCap Showcase at 8:00 PM ET. These events aim to enhance investor engagement and showcase the company's position in the growing cannabis industry. Stem offers a unique Farm-to-Home™ model and operates a Delivery-as-a-Service platform, with a portfolio of well-known cannabis brands.
Stem Holdings, Inc. (OTCQX: STMH, CSE: STEM) reported a preliminary gross revenue of US$12.88 million for Q1 2021, reflecting a 456% increase year-over-year. The company integrated its recent acquisitions, driving record sales and improved margins while reducing SG&A costs. Key metrics for the quarter included a 32.1% rise in total dispensaries and an 81.5% increase in total units sold. Stem expects gross revenue from its expanded operations in Oregon to reach US$8 million over the next year. Full financial results will be available on or about May 15, 2021.
Stem Holdings has launched its first co-branded product, Rick Simpson Oil (RSO), combining its well-known brands, TJ's Gardens and Yerba Buena. The RSO is produced at TJ's Gardens facility in Oregon, utilizing high-CBD cultivars from both brands. CEO Adam Berk emphasized the commitment to wellness and accessibility, noting the product's high demand. The RSO will be available statewide in Oregon, further expanding Stem's market presence as a leading cannabis and hemp company.
The recent acquisition of Driven Deliveries by Stem Holdings is set to redefine the U.S. cannabis market. The deal, valued at approximately C$41.3 million, will form Driven By Stem, a vertically-integrated cannabis company with a Delivery as a Service (DaaS) platform. With combined revenues projected at USD$49 million and a gross profit of USD$18 million for the year, Driven By Stem aims to leverage both companies' strengths to enhance market share. The acquisition is expected to close by late 2020 and will be accretive to earnings, offering substantial synergies and cost savings.
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