MJBiz - May/June 2024 - 11

FIVE QUESTIONS
We manufacture and co-pack
all of our own products. We have
a distribution company (Stately
Distribution) that distributes
throughout the state.
We do all our own sales
in-house for our own first-party
brands. We also represent a
couple of third-party brands.
We've got 16 operating retail
stores throughout California. We
have 17 licenses. We'll be opening
up our 17th store probably in (the
second quarter).
What are your plans now?
The immediate plan is to get
to free cash flow. I think that's
where companies are today.
We all know that a few years
ago, everyone was chasing topline
revenue, then getting to
positive EBITDA (earnings before
interest, taxes, depreciation and
amortization). Now it's all about
free cash flow.
We obviously want to grow
top-line revenue.
What is your biggest
challenge in California?
That's a catch-22. We believe
that the California market represents
a significant opportunity,
especially for the right operators
who have vertically integrated
companies.
If you're vertical in California,
you control your own supply
chain. You are insulated from
a lot of the problems that are
occurring in the market.
To give you an example: We
have 107,000 square feet of
canopy. You can look at the cycle
as a push or a pull: We don't
need to push our product out. We
literally have enough demand to
supply all our own flower today.
That de-risks our platform,
if you will. We are cultivating,
we're using all our flower, we're
pushing it out into the market.
We've done a really good job at
(matching) supply and demand.
And that's a really nice place to
be in.
This interview was edited for
content and clarity.
Solomon Israel
covers finance for
MJBizDaily. Reach
him at solomon.
israel@mjbizdaily.com.

http://atlasgreenhouse.com

MJBiz - May/June 2024

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MJBiz - May/June 2024 - 1
MJBiz - May/June 2024 - 2
MJBiz - May/June 2024 - 3
MJBiz - May/June 2024 - 4
MJBiz - May/June 2024 - 5
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