Five steps to optimized value
Analyze Legal, Regulatory & Political Environment
With a leadership team that brings decades of business experience to Harvest management, we have built customized applications to rank and score criteria that help project the best locations to ensure our expansion delivers on premium profit while maintaining our reputation for exceptional client engagement.
Develop Vision to Profitability
When many of the cannabis companies focus on near-term growth through overextending their capital, Harvest focuses on maintaining consistent profitability. The result is that Harvest anticipates significant revenue and EBITDA growth, with a 3-year CAGR of ~230% and ~300%, respectively.
Identify Market Access Points
With exceptional operators and allocators of capital, there isn’t a state where Harvest has applied and not won. We select our bidding options based on ability to create impact within a specific city or region within the state markets. This was our strategy in Arizona, which allowed us to gain the largest market share in the third largest medical cannabis market in the US.
Harvest has one of the largest national footprints, compared to peer companies in the industry. While many multi-state operators have taken the approach of only targeting limited-license states, Harvest has not foregone the opportunity available in some of the country’s largest markets by focusing on markets within markets, allowing us to capture market share within regions in which the percentage of potential cannabis clients is strong.
Operate & Optimize
Management places return on invested capital (ROIC) at the forefront of their decision making, in contrast to other cannabis companies who overspend on near-term growth. With a modest $18MM of invested capital to date, Harvest has organically grown to become one of the largest cannabis companies in the United States, with a market-leading production cost of less than $1.00/gram.
Investing in Research
Harvest is committed to broadening acceptance and understanding of the value of cannabis and the cannabis industry. We demonstrate that commitment every day, through our Harvest-funded research and advocacy.
Founded by Drs. Troutt and DiDonato, the Medical Marijuana Research Institute is the proprietary Harvest research division, dedicated to contributing to the academic literature on medical marijuana. Our studies have been published in peer-reviewed journals, such as the Journal of Psychoactive Drugs. Our findings have shown that legalization has had many positive effects on patient outcomes, including increased feelings of safety, improved product knowledge, and greater product effectiveness.
Educating patients begins with a knowledgeable staff. All Harvest employees undergo a rigorous training program directed by Dr. Troutt. Yearly continuing education is also required. Dr. Troutt also organizes a monthly New Patient Orientation seminar, where patients can learn medical cannabis basics and ask questions. This program is integral to the Harvest experience.
We host a number of monthly support groups, including those focused on pediatric epilepsy, multiple sclerosis, cancer, and chronic pain. We employ a Patient Outreach Coordinator to organize these activities and facilitate discussions at Harvest-hosted sites.
Harvesting Hope is a non-profit organization (501(c)(3)) established in 2014 to provide a better quality of life for young children suffering from pediatric epilepsy. To date, Dr. Troutt, Harvesting Hope’s Executive Director, has provided services to over 100 families and their children, including guidance on cannabis use for seizure control, educational seminars and discussions, and introductions to medical specialists. Harvesting Hope has also raised and distributed over $30,000 to families requiring financial assistance.
Special Needs Workforce
We have partnered with Quality Connections to employ individuals with special needs at our Flagstaff cultivation facility. This program creates economic opportunities and a sense of identity for a population that tends to fall behind both financially and socially. We plan to employ similar programs at our other cultivation and production facilities throughout the country.
Since May 2013, we have donated over $400,000 to charitable organizations (such as the American Cancer Society, Bosom Buddies, Ryan House, Climb to Conquer Cancer and the Epilepsy Foundation of Arizona), veterans, seniors, and patients-in-need. Our mission is to propagate this culture of giving throughout the country at each of our medical cannabis facilities.
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