Gage just keeps on growing – Q2 results are set to be record breaking
With consistently strong sales, a unique business model and quality product, Gage is on target to become the market share leader in Michigan state.
Setting record revenue for Q1 2021, with $17.6 million, a massive increase of 219.4% YoY. Early indications suggest sales revenue for Q2 are set to be equally as impressive.
In order to maximize the margins, Gage’s business model enables them to control all aspects of the process, from growth and cultivation to delivering quality products in-store.
There are currently eleven cultivation facilities (three Gage owned and eight contracted). Demand for Gage’s product and to become a cultivator is high.
With contract partners creating products on the shelves at zero cost, and sharing 50% income from sales, Gage’s business model is cost-effective and puts Gage’s cash balance sheet in a very strong position going forward. Gage ended Q1 with over $43.6 million in cash.
And with more contractors planned to come on board, along with store expansion that carries Gage’s premium product, and vertical integration model, revenues will continue to soar amid a US-wide industry boom.
This is an incredibly exciting time for one of Michigan’s fastest-growing companies.
Download our exclusive report on how Gage Growth Corp. could thrive in 2021 with their aggressive growth plan
Michigan Mecca for MJ
Gage is well placed to capitalize upon Michigan’s growing MJ market.
Worth over $3 billion, Michigan is on track to soon become the second biggest market in the United States. This is huge, especially considering recent shopping restrictions with Covid. The legal MJ market is set to add well over $150 billion to the US economy within the next few years.
And with demand for product in Michigan growing, this is sure to continue.
In fact, there are nearly 250,000 medical users alone, making Michigan one of the largest medical MJ markets in the United States.
Michigan became a top 3 MJ market thus far in 2021. In 2020, adult use sales rose 585%. Therefore, with demand soaring, it may end up leading the space.
Building a premium brand
Consistent sales figures are a testament to the quality of the product. Delivering premium products at premium prices helped end Q1 with an average basket size of $158. Nearly 100% more than the average basket for the rest of Michigan state.
Gage is committed to the long-term, and continues to invest in producing premium products for its customers. With highly experienced, vetted cultivation teams producing products free from contaminants and pesticides, Gage only sells premium products.
Gage is an innovative company with a great understanding of its Michigan customer base. And products flying off the shelves is testament to this. With the market set to become more sophisticated and competitive, customers will increasingly demand more choice and premium products.
Gage is well placed to meet growing demand from patients, customers and its communities.
With new flavors added constantly, customers can’t get enough of Gage’s extensive, premium offering.
The successful, exclusive partnership with Cookies, one of the most well-respected lifestyle brands in the MJ industry, partnering with hip hop stars, Wiz Khalifa, Snoop Dogg and Rick Ross has given Gage exposure to a wider audience.
More recently, Gage also announced an extension of its partnership with Wiz Khalifa’s KK brand to be the exclusive producer, processor and retailer for its successful KK branded products in Michigan.
Download our special report on Gage Growth Corp.’s rapid rise in one of America’s top states in the industry and how early investors could profit
Big things ahead?
Gage consistently delivers, with the recent partnership with Khalifa’s KK brand and the opening of more retail stores, plus the introduction of new products and strains.
Gage is set to open and operate 20 more stores by the end of 2021 and plans to have another processing plant up and running in the 2H 2021.
And, as demand continues to soar for premium MJ product in the state of Michigan, Gage is in a very strong position to become the #1 market leader by the end of 2021.
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