4Front Ventures has plans to boost production this year after a second-quarter that saw the multi-state cannabis operator trim its losses.
CEO Andrew Thut said his company's Matteson facility in Illinois is now operational with 12,000 square feet of flowering canopy.
"We are on track to triple this capacity by mid Q4. The strong demand for our flower, evidenced by substantial pre-sale interest and long-term supply contracts, underscores market confidence in our high-quality products. We anticipate a notable rise in wholesale revenue as we ramp up our harvest schedule starting in early September," he said.
With plants now in place, the facility's first harvest is scheduled for September 7, followed by three additional harvests each month: seven in September, nine in October, twelve in November, and stabilizing at fifteen per month. The company said this scale presents a significant opportunity for 4Front-branded wholesale in an Illinois market with limited cultivation capacity and an increasing number of dispensaries opening monthly.
4Front also said its Massachusetts facility is getting back up to speed. The Worcester cultivation facility generated its first harvest on July 1 following a strategic reset that kept it offline for much of the first and second quarters. With the introduction of new genetics, updated SOPs, and investments in processing, the facility is expected to contribute 350-400 pounds per month, primarily to the wholesale menu.
Despite revenue falling to approximately $18.7 million -- down from about $27 million in the year-ago quarter -- 4Front still managed to scale its net losses back to just under $5 million.
