C$24.4m market cap
C$0.22 last close
Australis Capital is focused on US cannabis assets that it believes will have staying power in the rapidly developing cannabis market. The company’s goal is to form these assets into a fully operational and integrated business in this highly regulated industry.
Investment summary
Following the cancellation of the proposed merger with Folium Biosciences, we expect Australis to renew its previous strategy of acquiring durable assets in the cannabis space, including an increased investment in the company’s Cocoon payment and procurement technology platform.
Y/E Mar |
Revenue (C$m) |
EBITDA (C$m) |
PBT (C$m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2018A | N/A | N/A | N/A | N/A | N/A | N/A |
| 2019A | 0.1 | (3.6) | (3.5) | (3.70) | N/A | N/A |
| 2020E | 0.2 | (8.6) | (10.3) | (5.96) | N/A | N/A |
| 2021E | 2.8 | (10.2) | (10.5) | (5.90) | N/A | N/A |
Industry outlook
The US cannabis industry is expected to grow at a more than 20% annual growth rate in the coming years as more states legalize recreational cannabis and the infrastructure is built in those states that have already legalized it. Moreover, US federal legalization may be a near-term inflection point for the industry, allowing operations to cross state lines and access to traditional sources of capital.
Last updated on 04/06/2020
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Share price graph
Balance sheet |
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| Forecast net debt (C$m) | 17.5 |
| Forecast gearing ratio (%) | 26 |
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Key management |
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| Scott Dowty | CEO |
| Michael Carlotti | CFO |
| Brent Reuter | SVP IR |
