SHWZ - Earnings call transcript Q2 2021 | Medicine Man Technologies, Inc.

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Operator

Greetings and welcome to the Second Quarter 2021 Conference Call and Webcast for Schwazze.

We are being hosted by Justin Dye, Chairman and Chief Executive Officer; and Nancy Huber, Chief Financial Officer.

Following the presentation, management will take questions submitted via the web link found on Schwazze's Investor Relations website and in the earnings press release. I would also like to remind you that management's prepared remarks and answers to your submitted questions may contain forward-looking statements, which are subject to risks and uncertainties. The words expects, anticipate, could, estimate, believe, potential, will, should, project, and similar expressions as they're related to Schwazze anticipated events, outcomes, and results are such forward-looking statements. at all actual involve to events, those by that that and differ cautioned anticipated cause may outcomes, Schwazze are forward-looking risks statements uncertainties from Investors time. this and results

earnings December such quarter on ended for XX-K is the Schwazze's and Additional and release year its information in ended risks and the the XXXX. XXXX available June uncertainties in XXth, Schwazze's XXst, for XX-Q Form Form

and are remarks the with more fully Commission, Schwazze's reviewed in be filing Dye. Securities website. company's I on other described the would to public at US to over now Chairman, addition, call CEO Exchange Relations or Justin can which like In www.sec.gov the and turn Investor

Justin Dye

a our then and will to presentation business Nancy questions. Huber Hello conclude quarter before thoughts. second CFO, We update would be this thank and for provide joining our review you results some final our us I happy in financial with detail, your will afternoon. take I

a and our Star will grow as quarter move facility. as and Colorado dispensaries with our During two provide drip demonstrate expansion commitment house reaffirms announced subsequently of equipment. of cannabis will as cultivation acres SCG of our acquisition overall manufacturing of acquisition Growers, extraction for major XX. the to the we hoop high as to as as of announced bringing within and vertical and capacity was land cultivation the includes This quarter-by-quarter the the SCG first greenhouse Dispensaries our into Colorado Southern is XXXX, of overall dispensaries, premium number or company's second to outdoor expected The significant and of cultivation as Buds signing Purplebee's SCG significant acquisition planned. company biomass Schwazze it result, the well directly acquisition XX well the indoor and facilities production end

during the million report to XXXX quarter of also representing cash positive of Star year, were of same we company's we X% a when million was Buds market, taking to our year assets, period. prior period The above revenue to XX last XX%, of the XXX% six-month XX.X% compared flow compared quarter, million, by Analytics. BDS $X.X that announced for increased pleased $X.X that increase. last recorded also from $XX this ownership $XX.X sales of million the Colorado to During EBITDA the up dispensaries adjusted I'm Same-store $XX.X revenue. over last operations the as reported to million, the representing

increased and products. from Purplebee's as our to EBITDA results recorded $XX.XX, XX.X% our continue strong XX% a XXX,XXX, X.X% up results, transactions quarter. Along X by X.X%. retail wholesale XXXX. acquisitions, of of production growth led Our from record-breaking sales revenue our retail be had we to and adjusted two-year with size growth revenue another Wholesale XX% Organics approximately Since also with is results basis. data completing customer April derived encouraged distillate average our on acquired increasing includes up and stores basket This Mesa in well now to with

our our We executing and merchandising operations improve continue playbook marketing, procurement. areas to execution, the retail by of in

and practices to efficiencies. continues synergy areas best M&A team growth in-house data integration, to in the our of Our leverage operational analytics drive realization

controlled Federal Senate their XX We regarding cannabis use as majority Americans to more be to discussion the from of removing adult states and legal Committee use. a released believe To As applaud legalize and and states medical date, list and Senator a seem legislation Chair, Federal be of adult in Opportunity XX cannabis Majority Finance federal reforms advanced Today Chuck especially of cannabis. Wyden cannabis. medical cannabis laws in dialogue was and of the Ron government state Senate to medical should use substances. in allow July for much cannabis or efforts states needed year, Act. engage Schumer, and either Cannabis are more around Leader, the draft than adult of legal, this the urgent, Administration Cannabis more have is of for Booker

We will can chambers Act, order reinvest reform continue in SAFE parties and cannabis invest pass and to the in to that laws our at and look communities. continue customers expect we our both our to Banking financial in so

would federal our any any make and that industry As poised necessary. and state always, changes we'll to are impact closely monitor changes

begin We will of Denver, approved of suburb delivery have been for home August. products to Colorado, Aurora in and delivery

to to licensing growth in we that to XX% into with number market industry. general. the year-over-year quarter, Colorado includes We're approval are report And Based estimates, demands. customers recorded awaiting growth Analytics growth, for year-over-year outpace meet excited past and medical now, where Schwazze to the representing Denver. again to use BDS the can approximately $XXX compared recent Colorado million $XXX same on cannabis and continuing year. adult cannabis service We our stores market we for have once this move add products that pleased market in last measurement, of quarter this sold during let's capture I'm demonstrate surpasses which to million share X%

in opportunities not other the states in and in evaluate future, we the well. additional of just cannabis dispensaries, continue areas but Colorado, cultivation, manufacturing Turning the industry as to across to

expansion, includes partners. reached are announcements agreements Our attractive averages, that following, with with be and Colorado's current once opportunities, locations. provides profitability revenue or intentions additional surgery potential to exceeds we've our that and criteria will prospective definitive for prices EBITDA, potential shareholders, growth products, acquisition accretive Any made growth the regarding acquisitions attractive

build opportunity reiterate continues quarter our continue sophisticated are Colorado review. already boom the I'd our to us attractive also to Nancy profitable, that state with second financial the cycle believe geography out and to the early And our and of represent as turn provides now, like bust we have over industry. to of and weathered me that it targets platform, home Let acquire the to discussion to

Nancy Huber

Justin. our I to like review XX, the for would quarter you, June now ended financial results XXXX. Thank

our of XXXX was ended on website approximately first XXXX.Operating during a million higher third addition Gross press selling, the during million, As same-store representing Tomato million of revenue merger assets the to our XXXX. inventory salaries for and million same quarter, operations we to table the margin same our on and three of to and operations. during XXXX $XX.X QX top mostly expenses, section, sales to $X.X cash sales flow with in EBITDA to as now QX was generated $X.X this XXXX. and million This XXXX revenue found million million, quarter to the during million compared for XXX%, period per from XXXX. $X.X second average sales June $XX.X average the basic the quarter $XX performance purchasing ended is focus to other, revenue. Justin was is sales period services dispensaries by in XXXX, for used gain purchases and retail of depreciation million, June includes a for of to right December reconciliation representing changed adjusting non-cash $X.X three releases. the million adjusted ended the between the quarter press consulting. of April EBITDA $XX.X and cost $X.X of attributed of business raising of June company a Nutrients; during or expenses of from acquisition QX to adjusted just as during year. weighted from the to in decreased manage increasing of reporting are the on share which and a for and The XXXX. expenses Therefore, and were for net were in two Star an compared increased the other during of align during this Gross and same same basic weighted XXXX and operations areas. $X.X $X.X revenue the were flow financial Star Other in increased three to approximately amortization. QX in was $XX.X be XXXX million The increase Schwazze dispensary the loss driven a increase added dispensaries. XX, operating XX, the total strength our positive to was to and XX, the compared quarters number the year. at Also, we the for release XXXX, million, income of of and we $X.X in reduced XX.X% of months a used operating last today. in XXXX, which schwazze.com capital million how one-time from reminder end the million, This in Mesa can This goods first million, in reporting flow profit share by equivalents acquisition, general income Big per increased profit for Total acquisition the improved approximately from during million, growth. completion now $XX.X and mentioned, and million, $XX.X investors due costs, cash Buds million, and QX which from at $X.XX derived Retail due Success or from Total compared Wholesale Organics includes the of XX.X% cash XXXX, on as wholesale in cash generated MIPS, in total that approach. includes of March period quarter Buds acquisition our period quarter. presentation, continued cash net same evaluate and compared well period were loss $XX.X XXXX. costs, the of and segment months See consulting same and revenues expenses income million, of due wholesale, increase revenue the from and The consolidated as small reported at compared administrative adjustments and $X.X compared strategic compensation retail period $X.X $X.XX be under in retail, a operating $X.XX the to wholesale in related the percentage million months the XX.X%, $X.X from

Turning outlook now the of to XXXX.

which questions $XXX adjusted reiterating $XX between our upon The annual annual excludes million not is $XX EBITDA based revenue and optimistic that $XXX be acquisition, now and and million million. closed. today answers. Justin, projections. company the I'd these and results to to announced, will are who remains reported guidance transactions million and to full-year closing open guidance, are date, and regarding to XXXX dispensary's but your We Thank like the projected the future back time for is to The drift the to additive SCG acquisitions will you call turn

Justin Dye

customer to future. support, In closing loyalty would customers our continued our excited on like great and our and their continues for I our today's momentum, to about suppliers very focus investors employees and and Schwazze build support. creating their experiences for their thank I'm call, for

We To of will take portion click now on on be relations please and happy the our questions. investor question, a submit. ask to website the your link press

Joanne Jobin

and you Nancy My has first on and is is, for Q&A today. Schwazze two question submitted be acquisitions, joined since the everyone the the Justin thank And name only you am Buds. team of us the I today. and behalf Joanne who I'll Star IRO why to moderating Jobin. Thank

question. this Justin, answer perhaps can you

Justin Dye

good you, Joanne, Thank that's that's a Yeah. good a question.

very as we we the Star we thought of really integrated we be but certainly synergies future sure that had in grow with agreements it Buds, since have here. full, that is, one we our XX So, we've exciting since it's remain acquisitions we and that I to fulsome facility. confident making and think will our acquired pipeline good ever definitive -- M&A is over take been business we can as that hands had signed we’ve appropriately continue once leveraging and a We We've growing announcing. one pipeline have get locations

prior stated more still to on track our we pipeline we've and So double come. to so we prior the revenues feel conversation in good about believe we're as

Joanne Jobin

Okay, And Justin. the on thank acquisition questions. Star you, staying Buds

share details. Somebody submitted you the Can question, are has things with how going Star Buds.

Justin Dye

teams been Yeah have got great we really we're roles of you we support a here employees happening people -- of store at support the proud star star we're, here the Buds, and things number level, Schwazze but are well. promote we in legacy, to great proud so going what's know roles have I'm at the have at really able -- we've team. great Star corporate the of

into operation purchasing, so dispensary on etcetera. the inventory, common merchandising, of point E all got communications, integrated in-store our our system, of now RP have We views sale and we've

in our on common So products we testing promotions We're great be on AB for value capital category shopping to practices the stores assortment, in in customer and in things experience products. locations. experience management various really best various and to great continue can across and of service a and value drive, for that invest we do terms terms create the customers. able to share a of start have assortment differentiated high-quality to work to and continuing great And

things we So are see well in the going and things more future.

see and think introducing merchandising omni-channel to I capabilities continue we're as this us Starbucks well working to as ecommerce be execution, you retail going on platform the quarter. can to

question. the for you thank So

Joanne Jobin

Okay.

that but for looks focused We Colorado, in expansion discuss other are markets, Justin? have Can plan. aggressive what and Colorado like an currently you

Justin Dye

good operator be another leader leading can billion the Colorado. in a market $X.X is certainly want be question. that small focused part It in represent though addressable we We are remain well in the in revenue. of on market today over we a We that a very being even dollars large best to you, position. We Colorado. Thank available

in a opportunity So to basis, the see in continue the at dispensary the on more well state of Colorado cultivation to level manufacturing. grow as we branded as lot product

looking defend we there certainly we about in be XX business can I operators, a that. you that of that country. build you next state at think other this state in be we the across a thinking There a that people, to about share in in our about single to right where market number in there states, over strategy what super and I regional number of are expand opportunity one see being franchise great terms think we framing states best multi area. good incredibly where place can are area share a the is able clear are and the think And selective and are that operators there becoming and think Looking with practices really a very our would operator leading thinking a doing become I to trying to is path see thought geographic of that handful that a can have could for months. We'll

we'll looking be selective So at the we're opportunity, very such. excited excited and We're next about doing about Colorado. very but

Joanne Jobin

Okay, thank you Justin.

we've does expansion how Do that what the financially? Nancy? that you raise now talked look is, submitted execute these plan question a like funding if Another coming about is to all plans, and so, from? much? Where

Nancy Huber

for -- Yeah Joanne. Thanks one. that

a XX-Q. acquisitions able So, we've borrowing see will the SCG be we a the $XX you'll of acquisition, $X additional debt, subsequent the of acquisitions. have in we're Capital events was complete options, know of constantly million million we'll our question once evaluating guidance at completed then convertible about that time of you to on we've we're And from find Altmore solution debt at looking that cash the number also a of equity, any that with. completed need that And And there cost hand to have funding funding section most regarding complete of the then we discussed part potentially the acquisition. as also as with we that effective

only effective, guidance will and the not additional we we any have we it's on it's And for that until unless closed. not at provide guidance. then usually anything probably calls So conference table provide provide guidance we materially the will

Joanne Jobin

Nancy. the on as answers guidance Okay. Hope Thank you, question well. that

acquisition. That turn one? Can Justin, this going and your was impact sales you expect you you forward? Colorado a how products Growers. take over Let's this can Southern discuss major to to

Justin Dye

thank you. Thank Joanne. Yes, you,

We full be premier of Colorado really will it excited it. Growers. one Southern the state. believe preeminent in can the this about offers capabilities -- growing excited we're farms We're know, very the You about spectrum. And across

including greenhouses, So, as outdoor deprivation greenhouse, growing. as houses light and indoor hoop well

our provide Purplebee's our to have then that So flower we'll biomass really retail also will And continue will high to capability. quality houses hoop XX that We're invest stores. in manufacturing we for business. building

strains in about offering on doing continuing So capability. forward work such. to new to that we're genetics and excited look We

So there. we and are about be think our going part this things forward big going of excited well it and a will strategy very

Joanne Jobin

along next expect the from see any recent further same to question resulting the should and QX, cost benefits synergy is that we The submitted lines, or Excellent. in any is, acquisitions or cost initiatives? reduction QX

Justin Dye

think I the mean, great Yes, great. a that's I question.

is I driving operational the think of one Colorado leverage operating in about rather. excited we're here -- things

revenue, the on more onto put a know, you as lower the can costs. of our platform, percentage costs So, fixed we the are particularly sales, the

on to going work to that. we're So continue

our merchandising see pricing products sharing to and opportunities programs. best marketing across continue practice of and and fleet services new and and We techniques stores

today's continue operating I want on efficient we'll can effectively think So to needs market, in on customers that work side. performance, see where business answering our retail to on commercial you're side well customers as both improve, going We but to going, to continue that. most the importantly a build that as our and we're really our wholesale and anticipating compete for the they're

Joanne Jobin

Thank you, Justin.

The product we've margins Nancy? can question. continue seen continues that think you revenues in Do to and be this improvements you Next impressive. trend?

Nancy Huber

Joanne. Thanks,

two do talked So to that we the quarters Colorado believe we we've continue in the at that revenue. market will we terms forward. as least and We've outperformed of last move

XX% have we'll showing product of quarter good last increase was to gross in the market. there between very this quarter, And an and So we believe margins margin. terms revenue compared in almost

have. we we to by said, strategic drive down we'll or margins XX% through costs margins significantly think quarter, of a Justin another next do improve number product initiatives I driving product are Now, but pretty don't working, as

in we we'll believe So also we of opportunity there's there. And acquisitions, continue that. believe to then, terms see

Justin you'll said, we acquisition opportunities needle. add as make, to synergize to move continue you we as at revenues, every that and, look So

every we improvement So, believe, we'll as well. with acquisition see

Joanne Jobin

now Thank using two-year Why you, number figures the sticking are next and quarters, with growth Nancy. And revenue growth? are that one-year over you numbers. growth numbers mentioning over

Nancy Huber

Justin?

Justin Dye

No, and restaurants etcetera, is or of not for pandemic, two-year and changing year. how a happened we I with to great identicals, are watching variant saw and emerge put happens live question. obviously to many I we here going out municipalities so I see to pandemic what enormous comparisons a or the to all they're of with last see bit folks COVID quite year industry what behaviors, With so and buying going and and with the last that's to we watching local Delta what growth going management think regards how to bars society And going stacked place. with vacancies, and the staying the -- from think their here, their respective to music, venues home in going growth -- are the behaviors people two-year When and out and bars perhaps think to we're in things what etcetera, with stipulations and people take in or traveling terms forth. in are restaurant saw that

to think to I at going that. continue look we're So

I look with two-year, to the grow we at continue want we're So, identicals, XX% when these cycling our in comparable customers. some over of months to

context important, that, I perspective, think from So it's just a understand.

a is look If baseline. XXXX you at good

retailers lot is to And a sectors in of as a You basis a and about comp other talking other of about lot changes XXXX, in stack think I think certainly good looking way are variation, of two-year larger at a the that. XXXX well. that a have in lot

of going So looking to anticipate us trying are all I and to what's happen. think executives

to a general think growth. revenue that's and think about I way fair sort volume So of

Joanne Jobin

Justin. Thank you,

Okay.

connections Do or we're questions. western western have any over other Now you of the to the stores swing some to retail any slope? retail going slope Colorado, in to

Justin Dye

us, the number but do to We there continue products of number side locations market. think be our to a on today, interesting our as state services, municipalities take and of to not that the would our the we we western are capabilities, clearly, of very

nice opportunity evaluate growth to continue that we'll us. think a So but very that, for we is

Joanne Jobin

the Excellent. the do Buds side, again name Justin. outside Star Colorado? And next of the question you Thank own you, on retail

Justin Dye

not. We do not, do we

a license Buds is have today. relationship Star Buds name in State the the that we for Colorado, and So with Star our of

Joanne Jobin

Okay, thank you. All right, next question.

look may and to or in we volumes retail expect see QX mix What seasonality, forward product we your QX. to stores? in As and

Nancy Huber

it's don't see we Usually, see, a is QX a all, Thanks products any QX, at But QX little two do amount, between It's that Joanne. significant we a bit usually the swings periods stronger bit But than a as QX. little than stronger stronger. huge specifically. usually see in little but not we

Joanne Jobin

Okay. Nancy. Thank you,

of will And new about much will Do be bases, any of overall that cannibalizing impact the what customer you delivery segment. developing have Let's have home existing on of how revenue customer sense kind acquisitions? line talk versus the the margins. that

Justin Dye

it into pieces. question, Great so take let's

going growth, believe, is sectors that to easier accessible, products other that ecommerce to market. this one market. broaden think the help receive. seen we've continue as And the will We make omnichannel, well to So more we in it's and grow

up So business I will tell being to have will But evaluate. having we percentage very end good customers. expect our we of excited a we're ecommerce you very model continue can What for about it operating overtime, to grow. to the

And want value. products, provide And And where that at well we going the shoppers. them, the we have they're out looking we'll they curbside, day great quality world see how time same it what But have as will state. on to see. high see. And largely be certainly to it's you a across So roll we'll as I able monitor as they ecommerce to shoppers, with a good will that delivery, or depend We'll delivery, to much day have. next continue retail for. occasion, brick-and-mortar whether

Joanne Jobin

about hope SCG question see much margins, from Intervention? another margin Justin, improvement Vertical how to you that you, Thank and now

Nancy Huber

any in specific guidance improvement that We question. don't acquisition. margins for give Thanks on specific from

the to we're But any So a significant that we one outside acquiring I don't grows. price that specifically. have product that at from discount would really today. expect can't answer growing the we're Today

that product margin purchase we basically is from And so third-parties. the

anticipate we the that bring pretty board. as margins would our SCG on improve products will significantly one So

some hoop there investing addition, In in houses to improve our biomass we're supply.

those next well. the you'll our come see and PurpleBee's impact over online So year margins as

Joanne Jobin

questions We've the any there here you, deliverables? bio last upcoming coming How quarter. along? on is a are announced few Thank that division sciences that Nancy. And we got

Justin Dye

that about SHWZ unit. Yeah. very our Remy business, hired Parco is and Chemistry, a and We're He's of bio business Industry. President and PhD Kachadourian Jim the Cannabis recently Remy sciences excited chemist as is Lab in well-known former Quality. Cannabis Colorado's Director in Innovation Director

on leading and institutions, the excited number appreciate all promised to to a R&D you continue that certainly terpenes more to then We're we're things to would product companies think working and line, in our and to have cannabis your We're for. confidential additives partnerships also And we're that organic a the completion products going other product single quarter. have on finalizing side. other that academic we team. the customer to in certainly our natural move add experimental a So project road, that, developing We're Remy I of the actively the more also asking innovate that. we we're with with away, lab, to source best the typically come continue on third service will executing construction ideas, heads but leverage Skunk in put vape are to development efforts our and down have a for on together think Works to date

Joanne Jobin

Thank you Justin.

by -- a federal cannabis If be when what cannabis. of legalization legalize and government federal will that it they for government, legalized the positive say is Schwazze? regarding let's the question a Now

Justin Dye

a good Yeah, question. great. This is

don't soon minds we our So, that could that's day but happening we have that. minds are government be see for for to soon. preparing I and ourselves fair best well, we legal when that commerce. think don't have anytime anytime think prepared coming interstate as a I

what want or we state of they architecture opt-in want and want they it, to tax set states we when to about how certainly be the their to the will how to it, think world to federal So is see the regulate going rules able be how and actually where cannabis, they treat a and up. decide own regulation, infrastructure

within which respective on a where supply that we're anticipating a these really take strength, strategy states, chain developing a and certainly build advantages which retail chain. which in have state I can supply to of So of is things that's develop cultivation to and think you deep happening you a our efficient within basis, a presumes how a very what's manufacturing one basically state-by-state each plays very

So, across in state we're to continue preparing it's to we'll this monitor Right general, have but a game, for we'll and be see. building lines that. state-by-state now to

us regards scheduled Certainly having to legislation a us, allows floodgates of X other or on allow pending. business. some normal cannabis is of -- Now, us with up other the behave the that regulation, very to is as D very, some Schedule important advantages, capital, that's opens tax drug allows the something to like a

not that's forward legalization. when is but exactly federal that day look de-schedulize much to very we that So

addition So to there's allow us being safe such credit that's cards in accept other would proposed. and as banking, and things be other some would that things that, then that to

and Very to continue to pieces. various these we're on going question. things it, So see about be go good optimistic where

Joanne Jobin

Thank you Justin.

shareholder, Is dividends. company as as possibility a there grows, asking our provide future, great dividend a on the to shareholders? to question in Here's a

Justin Dye

with generating say the me continue this momentum. let to and it is looking, a way, certainly we Well, more plan on flow free flow, free are more to generate Board's we're and management's cash cash it plan

reinvest doing down growth we curve that served a that the large that has that down view in I returns get of think I be the would investors looking our but we it best I like company are retail we certainly is we profits that think or that our a do outsized right where any for about capital think many think road. stock, so cash for having the that road. of shareholders a the said we're very think much that flow would down business, we mean something like can Once that the settled free growth company, any now is and today, couldn't and that's dividends, CPG when the doesn't in years

Joanne Jobin

All Thank you. right. Okay.

integrated Next trend sale question entities. submitted. leasebacks vertically There is with towards growing a cannabis

few announced what example, Harvest on ago, and a Schwazze? for that a For your IIP are transaction just thoughts today minutes trend

Justin Dye

sectors, if Another are good other mean, retail growth look in to question. sectors, leasebacks finance certainly, sale I at capital. you businesses other a and way

it what putting Are a make just off think depends decision. I it, by estate, better better today. of sale business capital we cost Are us, And or are I call, or simply it's we way from on for the via we real leasing really off? then financing the So better those and is it leaseback off buying -- mortgage a are that it would very discussion.

the future. So to certainly real capital right make estate in for in invest opportunity the outpaces, businesses sure ability buying our the right by writing at at them from platform, our a thing Right the synergies buying we're far estate real create shareholders then doing putting now, up that we're way. on estate We'll the it have acquire buying to we and our them multiples, valuation perspective. real and

where more very repurposed case-by-case single it's very asset can use, at. sale it The are different from class be into other and we'll but So, on businesses different a than very different basis et difficult. Retail cetera grow is and is take leasebacks gross, manufacturing, retail.

provides Good that. We certainly you because you you've to to at finance question. that down road, So we'll opposed our aren't can It estate. capabilities off owning assets own real look financing continue got of. the

Joanne Jobin

plans thinly improve to are that. Nancy, be liquidity and you Justin. accomplish how to will there seems traded, you, Thank your stock Okay. very

Nancy Huber

actually Joanne. and a on our conferences. attending on virtually, in-person. telling story audience reaching the wider working We're only Yes. but increase, not Those are Thanks,

every liquidity as reach to objective them get. help chance possible. And as our at we get investors many provide the is So, and to out evaluating we're new opportunity

as debt sense makes internal it we look at look we deals versus increase debt, we our so can whether at evaluate that stock improve and So versus to shares, liquidity.

Joanne Jobin

Thank We're growth questions you, wrap manufacturing and the sectors What here. up. the to Nancy. We're attribute last to starting in down Justin? retail to? do your you exponential few

Justin Dye

you, here. honest -- we've with a to team growth, The good got be very

good have I think we very plans.

what the We of we opportunities, attacking plan the in are problems. have on terms solve game how a good customers do market

going do. distillate base And the And of customer got to products by we're and we value, what consistent. and with opportunities for very solving to wholesale out a do offer to their wholesale services make think products done other the customers we're quality welcomed going -- think provide really opportunities that's think So has side. We a problems. to good as I find working continue our that's I on say job sure high well. We we've I wholesale customers our at and and new it's to great team

to to a customer at being customers what of decisions. listen the sharing two practices, we're today make continue a then On we're and team's price the the products And, about XX what operationalize good using more job what to becoming drift are and consistent, retail smarter stores want, with future getting the that. nice and business, able lot is data stores XX to going do the across what side, to points that our doing do best selling, -- stores,

we're pay road continue going to on that'll continue do, dividends revenue to and So, work think and grow we've future. to the and customer to taking of work care in better, continue and down the near the then to we got get

Joanne Jobin

Justin, and you, question for today. Thank a final

You is in XXXX. have What seven to that a first the of the continues accomplished challenge company? the months thing one lot

Justin Dye

it's industry to consolidate. think speed, see next the consolidate I to seeing over five the to going the XX really industry We're years. we're continue

and move think diligent consistent just that, good partnering those us M&A that very are able I and to pace. to So about to working of us at continue and and to those being around being our a be along very deals with underwriting with thoughtful selling

well. balancing really synergy integration speed think moving underwriting, I as good with realization, with So

with a work a and manage and of balance team are balance, heck of there's real and with as new a piece out and are things economy a moving day for every executing. continue CEOs. for also teams And is another think there looking the this estate we a that underwriting cetera. doing management So, of licenses, speed to our We're on number job going to I new those locations, et

there's people, right and now. -- challenges there is labor very know as You is labor hiring tight

I and think continue that So opportunity sets have grow company really career, building are going where something values labor well competing differentiators to an to be do that their those to I think into us have think I but really and good that it's to the that building to buy focus we certainly has market, -- in people up on. that, for a talent

think I our on as well industry has that as to focus others.

Joanne Jobin

Thank have we you, today. Justin. questions that And that is all of the for

before final call remarks have remarks do final today. do and/or any end the we Justin, have Nancy, you any you

Justin Dye

efforts, making we of our on to it's again about. to and great excited call, hard. and thank industry, it's Really like is would and investors very, continue all once quickly. happen very it’s proud This I work we're just great our their shareholders of very they're moving this things employees. need a a and our customers quickly, to And great very a market, thank --

we're and what we've to great taking is my company, our a think focused that's that. you’ve got continue stay I building do commitment of need to and operating mission got and going on customers to great to momentum care which

everybody's and you a we Thank you interest us. say would anyways, supporting you, appreciate in So, Nancy, few Justin. Schwazze thank words? to like for

Nancy Huber

Yes.

we think forward to our would and continued announcements. to for interest, investors look like our their future I thank

Joanne Jobin

and consideration you, Thank for your Once today. everyone Nancy. thank again, you Okay. time

further have that at submit info@schwaz.com. not ends today, everyone. directly feel for answered second now to day, them you were me Good Schwazze. This the please call conference If free to quarter questions

Operator

you lines. We call your this gentlemen, and for that concludes and disconnect today. for please thank you your conference participating ask Ladies

Medicine Man (SHWZ) 17 Aug 212021 Q2 Earnings call transcript