Private company

4Front Ventures Corp.

Medicinal chemicals and botanical products company based in Phoenix1

In its 2024 annual report the company says: “4Front Ventures Corp. is a vertically integrated, multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost, quality branded cannabis products. The Company distributes its products through third party retail outlets, as well as the Company’s chain of branded dispensaries. The Company has two primary operating segments: THC Cannabis and CBD Wellness.”4

Last updated Oct 20, 2026.

Overview

  • IndustryMedicinal Chemicals & Botanical Products1
  • HeadquartersPhoenix, Arizona1
  • Business address7010 E. Chauncey Lane Ste. 235, Phoenix, Az 850542
  • Filer category, Emerging growth company2
  • Legal formCorporation

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4Front Ventures Corp. (“4Front” or the “Company”) is a vertically integrated, multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost, quality branded cannabis products. The Company manufactures and distributes a portfolio of over 25 cannabis brands including Mission, the Hunt, Marmas, Crystal Clear, Legends, and Island. The Company distributes its products through third party retail outlets, as well as the Company’s chain of branded dispensaries. From plant genetics to automated manufacturing, to the cannabis retail experience – 4Front’s team applies expertise across the entire cannabis value chain.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

53.3%Gross margin5
-24.2%Operating margin5
-106.4%Net margin5
-10.0%Revenue growth, 20235

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue38¢$51.5M
  • Selling, general and admin47¢$63.4M
  • Interest10¢$13.8M
  • Income tax5¢$7.1M

Out of $86.1M in revenue.5 The company lost money this year.

Financial statements

Revenue6785$86.1M in 2023+2187% since 2018
0$25.0M$50.0M$75.0M$100.0M2018: $3.8M$3.8M20182019: $14.8M$14.8M2019+293%2020: $46.6M$46.6M2020+215%2021: $93.4M$93.4M2021+100%2022: $95.7M$95.7M2022+3%2023: $86.1M$86.1M2023−10%
Gross profit6785$45.9M in 2023+3282% since 2018
0$20.0M$40.0M$60.0M2018: $1.4M$1.4M20182019: $8.2M$8.2M2019+503%2020: $36.5M$36.5M2020+346%2021: $49.4M$49.4M2021+35%2022: $51.4M$51.4M2022+4%2023: $45.9M$45.9M2023−11%
Operating income6785-$20.8M in 2023+71% since 2018
-$200.0M-$150.0M-$100.0M-$50.0M02018: -$12.2M-$12.2M20182019: -$179.8M-$179.8M2019+1378%2020: -$32.6M-$32.6M2020−82%2021: -$14.1M-$14.1M2021−57%2022: -$15.0M-$15.0M2022+6%2023: -$20.8M-$20.8M2023+39%
Net income6785-$91.6M in 2023+812% since 2018
-$200.0M-$100.0M0$100.0M2018: -$10.1M-$10.1M20182019: -$182.0M-$182.0M2019+1711%2020: -$47.1M-$47.1M2020−74%2021: $38.3M$38.3M20212022: -$46.9M-$46.9M20222023: -$91.6M-$91.6M2023+95%
Fiscal year2017201820192020202120222023
Revenue$3.8M6$14.8M7$46.6M8$93.4M8$95.7M5$86.1M5
Cost of revenue$56.2M5$51.5M5
Gross profit$1.4M6$8.2M7$36.5M8$49.4M8$51.4M5$45.9M5
Selling, general and admin$56.3M5$63.4M5
Operating expenses$63.5M8$66.4M5$66.7M5
Operating income-$12.2M6-$179.8M7-$32.6M8-$14.1M8-$15.0M5-$20.8M5
Interest$5.6M7$15.8M8$13.7M8$12.6M5$13.8M5
Income before tax-$24.4M8-$11.2M5-$37.6M5
Income tax$966.0K7$15.0M8$13.9M8$10.1M5$7.1M5
Net income-$10.1M6-$182.0M7-$47.1M8$38.3M8-$46.9M5-$91.6M5
Shares (weighted, basic)633.0M shares5649.7M shares5
Shares (weighted, diluted)633.0M shares5649.7M shares5

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Corporate structure

4Front Ventures Corp. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of 4Front Ventures Corp.

  • Franklin Templeton Investments Filed SCHEDULE 13G/A on 4Front Ventures Corp., latest Aug 5, 2025 (2 filings since Feb 26, 2025)
  • LI LENDING, LLC Filed SC 13D on 4Front Ventures Corp., latest Jun 20, 2024
  • PUTNAM INVESTMENTS LLC Filed SC 13G/A on 4Front Ventures Corp., latest Feb 14, 2024 (3 filings since Feb 14, 2022)
  • Navy Capital Green Management, LLC Filed SC 13D on 4Front Ventures Corp., latest Oct 31, 2023
  • Gotham Green Partners LLC Filed SC 13G/A on 4Front Ventures Corp., latest May 26, 2022
  • 4Front Ventures Corp. Phoenix, Arizona

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What 4Front Ventures Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$49.3M5 Dec 31, 2023$43.1M5 Dec 31, 2022+14.4%
Accumulated depreciation$12.8M5 Dec 31, 2023$8.7M5 Dec 31, 2022+46.5%
Property and equipment, net$36.5M5 Dec 31, 2023$34.4M5 Dec 31, 2022+6.2%
Operating-lease assets (leased space)$118.5M5 Dec 31, 2023$121.9M5 Dec 31, 2022−2.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$41.8M5 Dec 31, 2023$41.8M5 Dec 31, 20220%
Intangible assets, net (excluding goodwill)$26.8M5 Dec 31, 2023$29.2M5 Dec 31, 2022−8.4%
Accumulated amortization$11.8M5 Dec 31, 2023$9.4M5 Dec 31, 2022+26.1%
Finite-lived intangibles, net$1.1M5 Dec 31, 2023$26.2M8 Dec 31, 2021−95.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$17.1M5 Dec 31, 2023$18.9M5 Dec 31, 2022−9.5%
Work in process$1.8M5 Dec 31, 2023$3.4M5 Dec 31, 2022−47.5%
Finished goods$6.2M5 Dec 31, 2023$5.6M5 Dec 31, 2022+11.3%

Leadership

Who has led 4Front Ventures Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Leonid Gontmakher2021–2023
  2. Andrew Thut2024–now

President

  1. Kristopher Krane2021–now

Chief financial officer

  1. Nicolle Dorsey2021
  2. Keith Edward Adams2022–2023
  3. Peter Kampian2024–2025
  4. Michael Kronberg2025–now

Chief operating officer

  1. Joseph R. Feltham2021
2025
Board members and other officers (14)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 4Front Ventures Corp. Canada3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jun 26, 20258-K Bankruptcy or receivership; Executive or director change32
  2. Jun 10, 20258-K Bankruptcy or receivership33
  3. May 27, 20258-K Regulation FD disclosure34
  4. May 27, 20258-K Other events35
  5. May 16, 20258-K Executive or director change36
  6. May 9, 20258-K Other events37
  7. Apr 25, 20258-K Regulation FD disclosure38
  8. Apr 17, 20258-K Regulation FD disclosure39
  9. Apr 4, 20258-K Regulation FD disclosure40
  10. Apr 3, 20258-K Executive or director change41
  11. Nov 14, 20248-K Regulation FD disclosure42
  12. Nov 7, 20248-K Regulation FD disclosure43
  13. May 7, 2024New chief executive Andrew Thut becomes CEO11
  14. Jan 4, 2021New chief executive Leonid Gontmakher becomes CEO12

Calendar

When it reported results

  1. Nov 20, 2023Reported quarterly or annual results44
  2. Aug 15, 2023Reported quarterly or annual results45
  3. Jul 31, 2023Reported quarterly or annual results46
  4. May 16, 2023Reported quarterly or annual results47
  5. May 9, 2023Reported quarterly or annual results48
  6. Mar 30, 2023Reported quarterly or annual results49
  7. Nov 14, 2022Reported quarterly or annual results50
  8. Aug 16, 2022Reported quarterly or annual results51

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

210 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 74 major events, 81 insider forms, 8 large holders, 1 private raises, 32 other. The latest 20:

  1. Aug 5, 2025SCHEDULE 13G/A EDGAR
  2. Jun 26, 20258-K EDGAR
  3. Jun 10, 20258-K EDGAR
  4. May 27, 20258-K EDGAR
  5. May 27, 20258-K EDGAR
  6. May 19, 20254 EDGAR
  7. May 16, 20258-K EDGAR
  8. May 9, 20258-K EDGAR
  9. Apr 25, 20258-K EDGAR
  10. Apr 22, 20254 EDGAR
  11. Apr 22, 20254 EDGAR
  12. Apr 17, 20258-K EDGAR
  13. Apr 8, 20254 EDGAR
  14. Apr 8, 20254 EDGAR
  15. Apr 8, 20254 EDGAR
  16. Apr 4, 20258-K EDGAR
  17. Apr 3, 20258-K EDGAR
  18. Mar 31, 2025NT 10-K EDGAR
  19. Feb 26, 2025SCHEDULE 13G EDGAR
  20. Feb 12, 20253 EDGAR

The 210 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

10 open-market trades by officers, directors and large owners since October 2021: 4 buys and 6 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 7, 2023GONTMAKHER LEONIDDirectorBuy20,000$0.24$4.8KForm 4
Sep 6, 2023GONTMAKHER LEONIDDirectorBuy75,000$0.23$17.2KForm 4
Aug 29, 2023GONTMAKHER LEONIDDirectorBuy14,500$0.13$1.9KForm 4
Jun 17, 2022GULATI CHETANDirectorSale7,500$0.63$4.7KForm 4
Jun 15, 2022GULATI CHETANDirectorSale500$0.66$330Form 4
Jun 14, 2022GULATI CHETANDirectorSale1,000$0.66$660Form 4
Jun 13, 2022GULATI CHETANDirectorSale168,000$0.67$112.6KForm 4
Jun 10, 2022GULATI CHETANDirectorSale300,000$0.68$204.0KForm 4
Jun 6, 2022GULATI CHETANDirectorSale47,000$0.72$33.8KForm 4
Apr 13, 2022GULATI CHETANDirectorBuy5,761,297Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Aug 19, 2022Raised $2.1 million in a private offering of equity Form D: 1 investor so far Form D

SEC filer profile

How 4Front Ventures Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAR4Front Ventures Corp.1
  • CIK0001783875
  • Employer ID (EIN)83-41684171
  • Filer status<br>emerging growth company1
  • Fiscal year endsDecember 311
  • Industry code (SIC)2833 Medicinal Chemicals & Botanical Products1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address7010 E. Chauncey Lane Ste. 235, Phoenix, AZ 850541
  • Phone(602) 633-30671
  • Shares outstanding913,928,993 as of Nov 11, 202410
  • Public float$89.0M as of Jun 30, 20235
  • On EDGAR sinceAug 1, 20191
  • Filings322 in all: 8-K (83), 4 (75), 6-K (51), 3 (19), 10-Q (12), SC 13G (12), 3/A (8), NT 10-Q (7)1
    All 34 form types

    UPLOAD (5), 10-K (4), 4/A (4), CORRESP (4), DEF 14A (4), DEFA14A (4), NT 10-K (4), SC 13G/A (4), 6-K/A (2), D (2), FWP (2), SC 13D (2), 10-K/A (1), 144 (1), 20-F (1), 20-F/A (1), 424B3 (1), 424B5 (1), 8-K/A (1), 8-K12G3 (1), EFFECT (1), NT 20-F (1), S-3 (1), S-3/A (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2024
    Quarterly report (10-Q) Nov 14, 2024
    Proxy statement (DEF 14A) Sep 10, 2024
    Latest 8-K (8-K) Jun 26, 2025

Sources

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