Hey there, Benzinga Cannabis community, Maureen Meehan here, sliding into your inboxes with a jam-packed edition of Cannabis Daily — your daily hit of the latest from the world of weed, straight from the folks who make it, legislate it, smoke it, sell it, and even… give it to their pets? (Yup, we’ll get there.)

We’re still in earnings season with some major names like Village Farms, Ascend, and Hydrofarm serving up numbers worth more than a second glance. We’ve also got the latest industry jobs report (spoiler: sales up, jobs down), some surprising regulatory shakeups, new rules for your furry friends' cannabis products, and big shifts brewing across Europe and statehouses from Texas to Florida.

Let’s get into it. 🌱💸🐾

In today's issue:

• 💰 Market Moves & Earnings Season

• 📊 Industry Insights

• 🧪 Science & Standards

• 🏛️ Politics & Policy

• 🐕 For The Pet Parents

🏭 Village Farms Scores Strongest EBITDA In Years, Spins Off Produce Biz

Village Farms International Inc. (NASDAQ: VFF) is having a serious moment. The Canadian cannabis heavyweight posted its strongest adjusted EBITDA in three years, thanks to a 285% year-over-year surge in medical cannabis exports, helping push its Canadian segment margin up to a lush 36%.

But wait, there’s more — the company also announced a deal to privatize its Texas-based fresh produce business, handing majority control to Vanguard Food LP in exchange for $40 million in cash and a 37.9% stake in the new entity. That’s called trimming the fat to flex the flower.

🚀 Ascend Wellness Touts Cash Flow Focus, New Retail Moves

Ascend Wellness Holdings Inc. (CSE: AAWH.U / OTC: AAWH) is focused on “getting lean and mean” as they put it — boosting profitability and dialing in on a densification strategy that emphasizes smarter retail and a revamped e-commerce platform. Management expects these tweaks to show up where it counts: the bottom line, in the second half of 2025.

📉 iAnthus Sees Revenue Dip In Q1, EBITDA Halved From Q4

iAnthus Capital Holdings Inc. (CSE: IAN / OTC: ITHUF) is feeling the squeeze. Q1 revenue dropped to $38.1 million, down from both the previous quarter and the year before. Adjusted EBITDA was $3.2 million, half of what they clocked in Q4. While the numbers are stable year-over-year, it's clear Q1 was more grind than growth.

📦 Hydrofarm Cuts Costs Again, Shifts Strategy Toward Higher-Margin Brands

Hydrofarm Holdings Group Inc. (NASDAQ: HYFM) just notched its 11th consecutive quarter of year-over-year SG&A savings — applause, please. They're leaning hard into higher-margin proprietary brands, now 55% of sales, which helped fatten their gross profit margin even amid market headwinds. Efficiency? They've got that on lock.

🛒 Vireo Acquires Utah’s WholesomeCo In $70M Share Deal

Vireo Growth Inc. (CSE: VREO / OTCQX: VREOF) just made a major play in Utah, scooping up WholesomeCo Cannabis and the Arches analytics platform for $69.8 million in shares. WholesomeCo’s strength? A one-dispensary powerhouse with a strong delivery arm. The deal includes performance milestones and share lockups, suggesting Vireo’s playing the long game.

📉 Cannabis Sales Climb, But 15,000 Jobs Vanished In 2024

Here’s the head-scratcher of the day: legal cannabis sales grew by $1.3 billion in 2024, but the industry shed over 15,000 full-time jobs, according to the new Cannabis Jobs Report from Vangst and Whitney Economics. Total employment sits at 425,002 FTEs, down 3.4% from 2023.

“The cannabis industry has shifted from a phase of hypergrowth to one of operational discipline,” said Vangst CEO Karson Humiston. That’s code for layoffs, belt-tightening, and a whole lot of praying for federal reform.

💧 Federal Scientists Say It’s Time For Consistent Cannabis Drying Standards

The National Institute of Standards and Technology (NIST) just dropped a hefty 29-page report that basically says: y’all need to agree on how to dry your hemp. Labs across the country are delivering inconsistent moisture data, and that’s a problem for accuracy and quality assurance. It’s all part of CannaQAP, a federal program aimed at setting testing standards for the industry.

🧪 Texas House Advances Bill To Expand Compassionate Use Program

House Bill 46 just got a thumbs-up from the Texas House, with strong bipartisan backing. The bill would broaden the state’s Compassionate Use Program, which originally greenlit low-THC meds for epilepsy, to allow greater access and fewer restrictions. More dispensaries? Hopefully coming soon, y’all.

🧾 Florida Recreational Campaign Joins Fight Against Ballot Crackdown

Smart & Safe Florida, the group behind Florida’s recreational weed push, is suing over a new law that makes it way harder to get citizen initiatives on the ballot. Critics say HB 1205 is a direct response to recent pushes for marijuana and abortion rights amendments. Governor Ron DeSantis signed the bill into law on May 2.

❌ PA Senate Shoots Down Legal Weed Bill With State-Run Stores

In Pennsylvania, a bill that would’ve legalized adult-use cannabis via state-run stores got KO’d by the Senate Law and Justice Committee. It had narrowly cleared the House, but Sen. Dan Laughlin (R) — a legalization advocate himself — said the current model just isn’t going to cut it.

🌍 Europe’s Medical Cannabis Boom: 5 Countries On The Verge Of Reform

Big things are budding across the Atlantic. France and Spain are finalizing national frameworks. Denmark will launch a permanent system by January 2026, while Ukraine and Slovenia are locking in reforms too. Europe’s patchwork quilt of pilot programs is finally starting to look like a real market.

🐾 California Unveils Cannabis Product Rules For Pets

Fido’s CBD is about to get fancy. California’s Department of Cannabis Control is setting the table for new pet product rules, covering everything from labeling to lab testing. The proposed regulations aim to ensure pets aren’t getting anything dodgy, especially when it comes to THC limits and product claims. Public comments are open — so bark up if you’ve got thoughts.

🌬️ That’s a wrap for today’s Cannabis Daily! Catch you tomorrow with more buzz from the world of weed. Until then, keep it lifted, legal, and always label your dog’s CBD biscuits.

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