4Front Ventures
4Front Ventures operates in Illinois, Massachusetts, and Washington, developing over 20 cannabis brands and 1,800 products, and runs Mission Dispensaries across diverse locations.
Company Overview
4Front Ventures is a cannabis company with a focus on innovation in cultivation, manufacturing, and retail. With headquarters in Arizona, the company operates across Illinois, Massachusetts, and Washington. 4Front Ventures is known for developing over 1,800 products and more than 20 different cannabis brands in the past decade. They have a vertically integrated approach, handling everything from cultivation to retail through their Mission Dispensaries network.
Operations and Facilities
4Front Ventures operates cultivation and manufacturing facilities as well as retail centers in Illinois, Massachusetts, and Washington. Their largest facility is in Illinois, with a production and cultivation capacity of over 250,000 square feet. The company uses custom-built automated machinery and scalable techniques for extraction, production, and automation. A new cultivation and production facility in Matteson, Illinois, is expected to enhance supply capabilities by summer 2024.
Mission Dispensaries
4Front Ventures operates Mission Dispensaries, which are medical cannabis dispensaries and adult-use stores located in diverse locations including South Chicago, Georgetown, Worcester, and Brookline. These dispensaries use a consumer-first retail approach to serve a wide range of customers. Offerings include flower, pre-rolls, vaporizers, concentrates, edibles, tinctures, soft gels, and topicals.
Financial Performance
In Q1 2024, 4Front Ventures reported revenue of $18.8 million and an adjusted EBITDA of $2.5 million. In efforts to improve financial efficiency, the company converted $23 million of senior secured debt into common stock, reducing its annual interest expense by approximately $3 million. As of April 10, 2024, the company has 912,923,993 Class A subordinate voting shares and 1,276,208 Class C multiple voting shares outstanding.
Product Innovation and Brands
4Front Ventures consistently launches multiple brands each year to meet market trends and consumer demand. They've introduced products like the marque flower brand Mission Cannabis in Illinois and Massachusetts, and Crystal Clear Blast, an innovative vape product. The company's extensive product line includes flowers, pre-rolls, vaporizers, concentrates, edibles, tinctures, soft gels, and topicals.