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    Nicholas Anderson

    Vice President and Senior Research Analyst at Roth MKM

    Nick Anderson is a Vice President and Senior Research Analyst at Roth MKM, specializing in U.S. consumer and tobacco sectors with specific coverage of companies such as Turning Point Brands and Ispire Technology. He is recognized for his Buy-rated calls, including raising the price target on Turning Point Brands amid strong revenue growth in the nicotine pouch category. According to TipRanks, Anderson holds a 50% success rate on published ratings with an average return of -3.4%, ranking #6,133 among Wall Street analysts. With earlier experience not publicly listed, Anderson currently holds FINRA registration and relevant securities licenses for research analysts.

    Nicholas Anderson's questions to Ispire Technology (ISPR) leadership

    Nicholas Anderson's questions to Ispire Technology (ISPR) leadership • Q3 2025

    Question

    Nicholas Anderson of Roth MKM inquired about the potential impact of the FDA's crackdown on illicit vapes on the U.S. market and Ispire's near-term growth outlook in North America. He also asked about the company's strategy regarding the upcoming disposable vape bans in the European Union and any potential supply chain constraints for expanding overseas.

    Answer

    Executive Michael Wang explained that Ispire's age-gating technology could convert a significant portion of the $50B+ illicit market to regulated products upon FDA approval, though near-term growth is expected primarily outside the U.S. Regarding the EU, Wang stated that the ban on disposables presents an opportunity for Ispire's strong 'Aspire' brand in pod and refillable systems. He expressed confidence that the Malaysian facility, scaling to 80 production lines, will provide ample manufacturing capacity to meet the shifting demand without supply constraints.

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    Nicholas Anderson's questions to Ispire Technology (ISPR) leadership • Q2 2025

    Question

    Nicholas Anderson of Roth MKM inquired about the progress of Ispire's cannabis business partnerships and the monetization pipeline for its I-80 technology. He also asked for details on the drivers behind the strong year-over-year revenue growth in Europe, particularly in light of regulatory changes like the U.K.'s ban on disposable vapes.

    Answer

    Michael Wang (Executive) explained that the cannabis business has successfully pivoted to larger MSO/SSO customers, with three key partnerships expected to contribute significantly to near-term revenue. He added that the I-80 filling machine is gaining traction with these high-volume partners. Regarding Europe, Wang attributed the strong performance to the company's strategic positioning ahead of the U.K.'s ban on disposable vapes, which favors Ispire's portfolio of refillable and open-system products.

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    Nicholas Anderson's questions to Turning Point Brands (TPB) leadership

    Nicholas Anderson's questions to Turning Point Brands (TPB) leadership • Q1 2025

    Question

    Nicholas Anderson asked about the advertising environment for modern oral products, wondering if regulations were becoming more relaxed due to the harm reduction narrative and how the company plans to market its offerings. He also inquired if the recent FDA headcount reductions could change expectations for the timing of PMTA application approvals.

    Answer

    An executive, Summer Frein, responded that while there is more advertising flexibility for nicotine pouches compared to traditional tobacco, restrictions still exist, and the company is focused on responsible marketing through digital and out-of-home channels. Regarding the FDA, executive Andrew Flynn stated that the timing for PMTA approvals remains difficult to predict given governmental changes and that there is no new clarity on the timeline.

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    Nicholas Anderson's questions to Turning Point Brands (TPB) leadership • Q4 2024

    Question

    Nicholas Anderson of ROTH Capital Partners questioned the potential impact of the FDA capping nicotine levels and the broader regulatory outlook. He also asked about the direct-to-consumer (DTC) opportunity for nicotine pouches versus the traditional brick-and-mortar channel mix.

    Answer

    CEO Graham Purdy viewed the recent FDA marketing authorization for a competitor's full product range, including flavors, as a bullish sign for the category and expressed confidence in their own filings. Regarding channels, Purdy noted that while TPB's core strength is brick-and-mortar (the initial focus for FRE), the ALP brand may have an 'outsized opportunity' online due to its target audience and marketing dynamics.

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    Nicholas Anderson's questions to Tilray Brands (TLRY) leadership

    Nicholas Anderson's questions to Tilray Brands (TLRY) leadership • Q3 2025

    Question

    Nicholas Anderson, on for Bill Kirk, asked about the potential impact of rising aluminum costs on beverage margins and questioned the current supply-demand dynamics in the Canadian cannabis market given increased exports.

    Answer

    Chairman and CEO Irwin Simon stated that while aluminum costs could rise, they are expected to be manageable and offset by other cost-saving initiatives. Regarding Canadian cannabis supply, he confirmed that there is 'tremendous' demand for wholesale product as competitors have exited the market, and Tilray is increasing its cultivation to supply its own brands, international markets, and select third parties.

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