Lift & Co and Civilized are in the focus these days as both media companies are going through significant periods as they try to boost their profiles.
Both Lift and Civilized are both known as rather influential websites in the cannabis space, which users often open up looking for advice.
However, just like the cannabis landscape is constantly evolving, both of these companies are also trying to evolve their presence to the next level. How well are they doing?
Lift & Co Q2 financial report
Lift started out a few years ago as a cannabis review platform for Canadians taking part in the medical marijuana program.
It quickly morphed into more than just a review platform and nowadays it organizes one of the biggest cannabis conventions in Canada.
However, not everything seems to be going the way Lift’s management might have wanted it to go.
According to their Financial Report for Q2 of 2019 they haven’t been really performing that well in the past 3 months.
Here are the highlights of their quarterly report:
- A $7.3 million CAD cash reserve;
- A 343% increase in revenue compared to Q2 2018;
- Quarterly revenue of $237,251 CAD.
The majority of this revenue increase came from the retail training contracts that Lift & Co. signed with provincially-run retail corporations.
The large sum of cash that Lift & Co holds is due to the IPO the company had in September.
Here are the low points of the quarterly report:
- A total of 293,749 unique visitors for Q2;
- A loss per share of $0.05 in the quarter (share price at an all-time low these days);
- An operational loss of $2,552,434 CAD.
The total number of visitors is somewhat disappointing, as the company failed to reach even 100,000 unique visitors per month.
The loss per share of $0.05 is also abysmal when you consider that their stock is trading at an all-time low of $0.36 CAD.
Their stock has been going downhill ever since the company went public.
Will Lift acquire someone soon?
Lift has a rather large sum of cash at hand—nearly $7.3 million CAD. That is not a small amount of money by any means.
Seeing how Lift & Co is making revenue on their own, but not that many profits, maybe it’s time to acquire a company that does make profits.
Given that Lift organizes their own cannabis expo in both Vancouver and Toronto every year, perhaps they’ll try to acquire a physical location in both cities.
That way they would be able to continue their tradition of holding the biggest cannabis expo in Canada, and own their own locations – meaning they’d largely cut down on expenses.
Civilized to make their first acquisition
Civilized.life is one of major lifestyle magazines that has built a name for themselves in the last couple of years.
The company has become increasingly popular over the last couple of months as it expanded its article selection to contain more cannabis content.
Civilized is located in California, the first state to legalize medical marijuana in the US.
This helped them position themselves as not just a lifestyle journal, but also a medical marijuana company.
They quickly added a “Dispensaries” section, which is basically a tool for locating the nearest dispensaries and their pricing—somewhat similar to Weedmaps.
The second step in moving towards the cannabis sector was made just yesterday when the Publisher Derek Riedle announced the acquisition of Toronto-based Business Of Cannabis.
Civilized seems to be following the footsteps of Lift & Co, at least business plan-wise, as they announced plans to also acquire The 420 Games, the only events company in America that makes reports on both cannabis and athleticism.