As the industry waves goodbye to 2023 and the “tough times” that characterized it for so many cannabis companies, we are starting to receive predictions about what to expect in 2024, only this time few people are expressing any confidence that external catalysts (descheduling, SAFER Banking, etc.) are coming to the rescue. If there is optimism – and there is – it is about individual markets, internal company achievements, and the overall growth of the industry. Beyond that and the usual expressions of hope that Congress will finally get its act together, no one is making any bold prognostications.

David Goubert: President & CEO, AYR Wellness

“MSOs will be focusing on the financial health of their companies, prioritizing cash flow generation and fostering leaner, more efficient operations.

If rescheduling and 280E relief occurs as anticipated, annual tax expenses would, allowing companies to pay down debt and reduce annual interest expense. This coupled with the prospect of Adult Use in Ohio, Pennsylvania and Florida has the potential to result in significant de-leveraging by 2025.