TILT Holdings Inc (OTCMKTS:TLLTF) posted a growth of 35.4% YoY in Q4 2020, revenues to $42.3 million. President of TILT, Gary Santo, said the company focused on improving revenues and making it profitable in 2020 by enhancing the scale. It improved working capital by $8.5 million QoQ to $57.4 million QoQ in Q4 2020.
The revenues of Jupiter Research LLC’s Power Supply almost doubled QoQ in Q4 2020.
The extraction processing capacity of Standard Farms almost doubled in Q4 2020. Standard Farms also reported record growth in the quarter.
The kitchen and lab production capacity of CAC (Commonwealth Alternative Care, Inc) improved by 100%. CAC received approval for expanding cultivation in Q4 2020. The company planted immediately on receiving the nod and harvested the first crop in March 2021.
Developments after Q4 2020
TILT took over Standard Farms Ohio LLC. In March 2021, Standard Farms reported the highest sales of the flower.
Also, Jupiter record shipments of cartridges in January 2021, besides receiving significant orders in February 2021.
Within one month of entering a distribution and manufacturing contract, TILT unveiled products under Her Highness NYC brand in Massachusetts.
In Massachusetts, CAC completed planting in an additional eight grow rooms.
Strengthens HR and marketing leadership
TILT recruited Darryl K. Henderson, J D, as SVP (HR) on April 13, 2021. The company also strengthened its marketing leadership by recruiting Roseann Valencia-Fernandez as VP.
Roseann is responsible for the development, planning, and execution of the strategy of TILT. Henderson will oversee HR Solutions worldwide and its portfolio. Gary will head both of these departments, and SVP (HR) and VP (Marketing) will report to him.
Gary said strengthening the leadership is essential to achieve the success of its team and promote growth.
Gary further said attracting the top talent to an already robust team to achieve long-term and short-term growth. Roseann and Henderson will play a vital role in shaping the corporate culture externally and internally.
Henderson brings over 30 years of experience as a chief employment officer, HR executive, entrepreneur, leadership coach, chief diversity officer, commercial lawyer, and business management consultant. He also worked as Keith Consulting Group’s president, besides engaging in the cannabis industry.
Roseann will contribute 20 years of experience in the marketing of cannabis products. She led growth strategies and worldwide marketing campaigns during her tenure at Advanced Nutrients.