Sign in

    Robert Fagan

    Research Analyst at GMP Securities

    Robert Fagan's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership

    Robert Fagan's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership • Q3 2019

    Question

    Robert Fagan of GMP Securities inquired about iAnthus's capital deployment priorities, the operational reasons for a recent drop in Florida flower volume, and potential pricing pressures in that market. He also asked for an updated timeline on the Sierra Well acquisition and its competitive advantages.

    Answer

    CFO Julius Kalcevich outlined capital priorities, focusing on Massachusetts, Florida, and Arizona, followed by New York and New Jersey. COO Pat Tiernan explained the Florida volume dip was a planned result of shifting from a seasonal shade structure to a new indoor facility, and he confirmed no significant pricing pressure. CEO Hadley Ford praised Sierra Well's strong retail reputation and projected a closing in the first half of 2020.

    Ask Fintool Equity Research AI

    Robert Fagan's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership • Q2 2019

    Question

    Robert Fagan from GMP Securities followed up on gross margins, asking about the drivers for the quarterly improvement and future outlook. He also questioned if the company had reached scale for operating leverage in its SG&A and sought details on the planned MPX entry into California.

    Answer

    CFO Julius Kalcevich stated that the current gross margin level is sustainable long-term, though new facilities might cause temporary fluctuations. He affirmed the SG&A base is well-scaled, with minor future additions expected in marketing. CEO Hadley Ford emphasized the strategic importance of California and confirmed the company would take significant steps in the second half of the year to establish a meaningful presence for MPX products in the state.

    Ask Fintool Equity Research AI

    Robert Fagan's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership • Q1 2019

    Question

    Robert Fagan from GMP Securities inquired about the pro forma EBITDA for Q1, the potential margin contribution from the MPX acquisition, the acceleration of pro forma revenue from April into May, and the key drivers behind the company's impressive wholesale penetration.

    Answer

    CFO Julius Kalcevich explained that including the full MPX results would have improved Q1 EBITDA and that May revenue continued the strong trend from April. CEO Hadley Ford added that the wholesale strength is driven by the strong MPX brand presence in Arizona, Nevada, and Maryland, and by high demand and product shortages in the vibrant Massachusetts market.

    Ask Fintool Equity Research AI

    Robert Fagan's questions to iANTHUS CAPITAL HOLDINGS (ITHUF) leadership • Q4 2018

    Question

    Robert Fagan of GMP Securities inquired about the Q4 pro forma results, specifically seeking color on the trends within the $11.6 million MPX contribution from Arizona and Nevada, and the significance of Maryland's contribution. He also asked about potential one-time items in MPX's pro forma EBITDA and the company's plans for its outstanding in-the-money warrants.

    Answer

    CFO Julius Kalcevich explained that Maryland's Q4 contribution was minimal as its dispensaries were in a startup phase but are now performing well. He stated that Arizona and Nevada's Q4 performance was consistent with Q3 and that iAnthus management would implement significant improvements in Q1/Q2. Kalcevich attributed MPX's EBITDA loss to duplicative public company costs and aggressive expansion, noting over $7 million in legal and professional fees for MPX in 2018, which presents a synergy opportunity. He confirmed there are no forced conversion features on the warrants.

    Ask Fintool Equity Research AI