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About Cannlabs
Its shares trade under the ticker CANL. It has been listed since 1 June 2011. In the fiscal year to 31 December 2022, it reported revenue of $4.4m and net income of $869,171. At that date it held total assets of $3.2m and shareholders' equity of $2.4m.
CannLabs, Inc. engages in the provision of intellectual property, proprietary cloud-based analytics solutions and scientific methods to serve the cannabis industry. The company is headquartered in Denver, Colorado. The company went IPO on 2011-06-01. The Company, through Carbon Bond Holdings, Inc., licenses cannabis testing methodologies, proprietary cloud-based business intelligence, data/analytics and consulting services to garner revenues from legalized cannabis states and their constituents. The firm has licensed cannabis-testing laboratories in Colorado and Connecticut and robust intellectual property, including the patent-pending technology utilized in its Web application, StrainData. StrainData is a unique user-friendly Web application (StrainData.com) that allows consumers to find strains of cannabis with specific properties based on individual need using published research. Carbon Bond licenses technology to CannLabs Colorado to provide a range of services for the cannabis industry, including potency, residual solvent, and microbiological testing, consulting services and research.
Figures and description from our data supplier, not checked against the company's own report.
Company facts
- Sector
- Health Care
- Industry
- Health Care Providers & Services
- Listed since
- 1 Jun 2011
- Employees
- 37
Leadership
Pay as last reported
- Mr. Mark MirkenChairman of the Board, Chief Executive Officer, since 2014$6.1m
- Mr. Joe AllbaughIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Cannlabs Inc possesses advanced technological expertise in the field of cannabis testing and analysis, enabling accurate and reliable results.
- The company has built a solid reputation in the cannabis industry, thanks to its commitment to quality, precision, and compliance with regulatory standards.
- Cannlabs Inc enjoys a strong and loyal customer base due to the provision of high-quality testing services, resulting in increased customer satisfaction and repeat business.
Weaknesses
- The company's success is highly dependent on the growth and stability of the cannabis industry, which may be subject to legal and regulatory changes, potentially impacting business operations.
- Cannlabs Inc's operations are currently limited to specific geographic regions, hindered by regulations and licensing requirements. This limits potential market reach and growth opportunities.
- Certain testing services may require collaboration with external laboratories, introducing the risk of delays or quality control issues, potentially affecting reliability and efficiency.
Opportunities
- Cannlabs Inc can explore expanding its operations into emerging cannabis markets, locally and internationally, to capitalize on increasing legalization and market demand.
- The company can consider diversifying its range of services beyond testing, such as offering consulting or research and development support, providing additional revenue streams and enhancing competitiveness.
- Cannlabs Inc can form strategic partnerships with other cannabis industry participants, such as growers or dispensaries, to create synergies, expand customer base, and improve overall business prospects.
Threats
- Changes in cannabis regulations, at local, national, or international levels, can significantly impact the company's operations, potentially leading to increased compliance requirements or restricted market access.
- The rising popularity of the cannabis industry has attracted new entrants and increased competition in the testing sector. Cannlabs Inc faces the risk of losing market share to competitors offering similar services.
- Continuous advancements in cannabis testing technologies could pose a challenge to Cannlabs Inc's competitive edge if the company fails to stay at the forefront of innovation and adapt to industry trends.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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