Here’s a glimpse of Meta Growth’s (TSXV:META) (OTCMKTS:NACNF) exceptional retail success to date:
More than $60 million in retail sales in the first year of legalization in Canada
Most recent quarter retail revenue of $16.8 million (an increase of 407% over the year’s first quarter)
Canada’s largest publicly traded recreational pot retailer by revenue
Cumulative gross margin of 32%
Rapid development of new stores (37% more stores now than last quarter)
Of all the Canadian cannabis companies that have arisen over the past few years, one of the most promising is Meta Growth (TSXV:META) (OTCMKTS:NACNF). This little-known cannabis retailer has already had some impressive growth, which means investors should be taking a closer look at its operations.
With an experienced and proven management team at its helm, the company has generated an astounding $60 million in sales since Canadian cannabis legalization back in 2018.
Generates Solid Revenues
On top of that, the company has managed to show tremendous growth in the most recent quarter. META’s reached $16.8 million in retail revenue for that quarter, which represents an increase of 407% from the first quarter of the year. Already, Meta Growth has a total of 35 licensed retail stores in Alberta, Saskatchewan, and Manitoba.
By the end of 2020, the company projects that it will have as many as 90 stores in total. Considering that it was one of the first movers into the cannabis retail space, it’s impressive Meta Growth (TSXV:META) (OTCMKTS:NACNF) has managed to become one of the leaders.
Impressive Revenue Per Square Foot
Investors should note that Meta Growth is considerably well positioned, and will likely prove profitable for shareholders. While its dominance of the retail space is a major strength, it has also managed to raise more revenue per square foot than many of the world’s biggest retailers. Currently, the company boasts annual revenues of $1030 per square foot, which places the company in the upper echelons of the retail space.
In the near term, Meta Growth (TSXV:META) (OTCMKTS:NACNF) has two major drivers of growth. The first is that, after the new stores are opened, around 30 of them will be in Ontario, which is the most lucrative province in Canada for cannabis companies.
The second factor is the legalization of derivative, or ‘Pot 2.0’. Cannabis consumables are hitting retail shelves as of next week, and with that, the company projects growth will accelerate. Analysts also believe that this is the next frontier for the cannabis industry and expect Pot 2.0 to add as much as $2.7 billion in yearly sales to the sector. Meta Growth (TSXV:META) (OTCMKTS:NACNF) is in a strong position to take advantage of this second cannabis boom.
The company already sells as many as 40 pot brands and retails a wide variety of products, from dried flower to smoking accessories. META’s growth will be driven by products like edibles, concentrates, and cannabis-infused beverages. Many existing companies will not enjoy much growth, but seeing as Meta Growth (TSXV:META) (OTCMKTS:NACNF) enjoys a first-mover advantage in the retail space, it will likely ride the new wave of profitability.