Marijuana Business Factbook 2019

viii Marijuana Business Factbook 2019 Executive Summary © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. The seventh annual Marijuana Business Factbook is also in a transition period of sorts. We’re continuing to refine our approach to presenting meaningful, actionable data in an industry defined by its disparate, state-by-state nature and regulations and business conditions vary significantly by market. This year, we’ve placed more emphasis on contextualizing the data, bringing in additional outside sources of information to paint a more holistic picture of the key developments and trends impacting each sector of the cannabis industry. In addition to the industrywide survey that forms the backbone of this report, we’ve incorporated data from various governmental agencies and utilized data-sharing partnerships with two reputable firms in the industry: • Cannabis Benchmarks, a division of New Leaf Data Services, which tracks wholesale medical and recreational cannabis prices across the United States. • Headset, which provides business intelligence and analytics services for marijuana companies. This report will give you a deeper understanding of these trends and the overall cannabis landscape today, offering business and financial information that can be used to start a cannabis business, grow or improve an existing one, forecast future demand, attract capital, identify investment opportunities in marijuana companies and better understand both the competitive landscape and the industry at large. We’ll also be providing free quarterly updates to key data points in this report, as the constant pace of change in the cannabis space means information that was current just six months ago is already outdated. Patient counts, sales estimates, analysis and coverage of major industry developments will be refreshed to more accurately reflect the rapidly changing marijuana business environment. MJBizDaily would also like to thank the following organizations for their support in spreading the word about this year’s survey: Apeks Supercritical, BioTrackTHC, Canna Angels, Canopy Boulder, Cova Software, Dixie, Flowhub, Fluence Bioengineering, Grasspots, MJardin, Poseidon Asset Management, SIVA Enterprises. If you have any suggestions or want to provide feedback, please contact me at EliM@MJBizDaily.com. Best Regards, Eli McVey Research Editor