Private company

Lowell Farms Inc.

Canadian agricultural production-crops company based in Salinas1

In its 2024 annual report the company says: “We are a California-based cannabis company with vertically integrated operations including large scale cultivation, extraction, processing, manufacturing, branding, packaging and wholesale distribution to retail dispensaries. We manufacture and distribute proprietary and select third-party brands throughout the State of California, the largest cannabis market in the world.”3

Last updated Oct 20, 2026.

Overview

  • IndustryAgricultural Production-Crops1
  • HeadquartersSalinas, California1
  • Incorporated inBritish Columbia, Canada2
  • Business address19 Quail Run Circle - Suite B, Salinas, Ca 939072
  • Filer category, Emerging growth company2
  • Legal formCorporation

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We are governed by the laws of British Columbia, Canada. On April 26, 2019, we completed a reverse takeover transaction (the “Business Combination” or the “RTO”) with Indus Holding Company, a Delaware corporation. On February 25, 2021, we completed the Lowell Acquisition. Effective March 1, 2021, in connection with the Lowell Acquisition, we changed our name to Lowell Farms Inc.3 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

-26.3%Gross margin4
-62.1%Operating margin4
-132.1%Net margin4
-35.1%Revenue growth, 20234
-325.3%Return on equity4
0.00×Debt to equity4
-$6.2MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue100¢$35.7M
  • Income tax0¢$161.0K

Out of $28.3M in revenue.4 The company lost money this year.

Financial statements

Revenue564$28.3M in 2023−24% since 2019
0$20.0M$40.0M$60.0M2019: $37.0M$37.0M20192020: $42.6M$42.6M2020+15%2021: $53.7M$53.7M2021+26%2022: $43.5M$43.5M2022−19%2023: $28.3M$28.3M2023−35%
Gross profit564-$7.4M in 2023−31% since 2019
-$15.0M-$10.0M-$5.0M0$5.0M2019: -$10.7M-$10.7M20192020: $2.2M$2.2M20202021: $2.5M$2.5M2021+12%2022: -$1.8M-$1.8M20222023: -$7.4M-$7.4M2023+304%
Operating income64-$17.6M in 2023−18% since 2021
-$30.0M-$20.0M-$10.0M02021: -$21.3M-$21.3M20212022: -$17.1M-$17.1M2022−20%2023: -$17.6M-$17.6M2023+3%
Net income564-$37.3M in 2023−25% since 2019
-$60.0M-$40.0M-$20.0M02019: -$49.9M-$49.9M20192020: -$21.9M-$21.9M2020−56%2021: -$24.7M-$24.7M2021+13%2022: -$24.6M-$24.6M2022−0%2023: -$37.3M-$37.3M2023+52%
Fiscal year201820192020202120222023
Revenue$37.0M5$42.6M5$53.7M6$43.5M4$28.3M4
Cost of revenue$47.8M5$40.4M5$51.2M5$45.4M4$35.7M4
Gross profit-$10.7M5$2.2M5$2.5M6-$1.8M4-$7.4M4
Operating expenses$23.8M6$15.3M4$10.1M4
Operating income-$21.3M6-$17.1M4-$17.6M4
Income before tax-$24.5M6-$24.4M4-$37.2M4
Income tax$205.0K5$224.0K5$191.0K4$191.0K4$161.0K4
Net income-$49.9M5-$21.9M5-$24.7M6-$24.6M4-$37.3M4
Earnings per share-$1.595-$0.655-$0.276-$2.174-$2.714
Earnings per share (diluted)-$1.595-$0.655-$0.276-$2.174-$2.714
Shares (weighted, basic)90.7M shares611.3M shares413.8M shares4
Shares (weighted, diluted)90.7M shares611.3M shares413.8M shares4

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Corporate structure

Lowell Farms Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lowell Farms Inc.

  • Beehouse, LLC Filed SC 13D/A on Lowell Farms Inc., latest Nov 14, 2024 (3 filings since Jan 26, 2024)
  • Cowen Financial Products LLC Filed SC 13G/A on Lowell Farms Inc., latest Jan 23, 2023 (3 filings since Jan 18, 2022)
  • Brian Shure Filed SC 13D/A on Lowell Farms Inc., latest Aug 26, 2022
  • George Allen Filed SC 13D/A on Lowell Farms Inc., latest Aug 25, 2022 (2 filings since Apr 14, 2022)
  • Lowell Farms Inc. Salinas, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Lowell Farms Inc. 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$29.6M4 Dec 31, 2023$72.7M4 Dec 31, 2022−59.2%
Property and equipment, net$4.1M4 Dec 31, 2023$31.3M4 Dec 31, 2022−86.9%
Operating-lease assets (leased space)$18.3M4 Dec 31, 2023$27.4M4 Dec 31, 2022−33.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.1M6 Dec 31, 2022$7.9M6 Dec 31, 2021−86.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$2.5M4 Dec 31, 2023$42.2M4 Dec 31, 2022−94.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$4.8M4 Dec 31, 2023$10.8M4 Dec 31, 2022−55.8%
Raw materials$1.4M4 Dec 31, 2023$7.4M4 Dec 31, 2022−81.2%
Work in process$307.0K4 Dec 31, 2023$940.0K4 Dec 31, 2022−67.3%
Finished goods$3.1M4 Dec 31, 2023$2.4M4 Dec 31, 2022+26.8%

Leadership

Who has led Lowell Farms Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mark L. Ainsworth2021–2023

Chief financial officer

  1. Brian Shure2021–2022
  2. Tessa O'Dowd2023
  3. Philippe Faraut2024

Chief operating officer

  1. Jenny Montenegro2021–2022
2025
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBruce Gates named Sep 7, 202221
  • ChairmanGeorge Allen named Sep 7, 202221
  • DirectorWilliam Anton named Sep 7, 202221

Former names

  • Indus Holdings, Inc.Jan 4, 2021 to Jan 4, 20212

Timeline

  1. Dec 20, 20248-K Change of auditor; Executive or director change22
  2. Nov 19, 20248-K Change of auditor23
  3. Nov 14, 20248-K Results of operations24
  4. Nov 7, 20248-K Other events25
  5. Oct 9, 20248-K Entered a material agreement; Executive or director change; Other events26
  6. Aug 13, 20248-K Results of operations27
  7. Aug 8, 20248-K Other events28
  8. Jul 3, 20248-K Executive or director change29
  9. May 14, 20248-K Results of operations30
  10. May 9, 20248-K Other events31
  11. Mar 28, 20248-K Results of operations32
  12. Feb 15, 20248-K Executive or director change33
  13. May 14, 2021New chief executive Mark L. Ainsworth becomes CEO10

Calendar

When it reported results

  1. Nov 14, 2024Reported quarterly or annual results24
  2. Aug 13, 2024Reported quarterly or annual results27
  3. May 14, 2024Reported quarterly or annual results30
  4. Mar 28, 2024Reported quarterly or annual results32
  5. Nov 14, 2023Reported quarterly or annual results34
  6. Aug 10, 2023Reported quarterly or annual results35
  7. May 11, 2023Reported quarterly or annual results36
  8. Mar 30, 2023Reported quarterly or annual results37

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

Filings

169 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 60 major events, 57 insider forms, 10 large holders, 1 private raises, 28 other. The latest 20:

  1. Dec 31, 20243 EDGAR
  2. Dec 20, 20248-K EDGAR
  3. Nov 19, 20248-K EDGAR
  4. Nov 14, 202410-Q EDGAR
  5. Nov 14, 20248-K EDGAR
  6. Nov 14, 20244 EDGAR
  7. Nov 14, 2024SC 13D/A EDGAR
  8. Nov 7, 20248-K EDGAR
  9. Oct 15, 2024DEF 14A EDGAR
  10. Oct 9, 20248-K EDGAR
  11. Aug 13, 202410-Q EDGAR
  12. Aug 13, 20248-K EDGAR
  13. Aug 8, 20248-K EDGAR
  14. Jul 3, 20248-K EDGAR
  15. May 14, 202410-Q EDGAR
  16. May 14, 20248-K EDGAR
  17. May 9, 20248-K EDGAR
  18. Apr 22, 20244 EDGAR
  19. Apr 22, 20244 EDGAR
  20. Apr 22, 2024SC 13D/A EDGAR

The 169 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

53 open-market trades by officers, directors and large owners since October 2021: 9 buys and 44 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Oct 15, 2024Heyman Gregory Parker10% ownerSale271,619$0.01$2.7KForm 4
Oct 10, 2024Heyman Gregory Parker10% ownerSale49,100$0.01$491Form 4
Oct 7, 2024Heyman Gregory Parker10% ownerSale170,472$0.01$1.7KForm 4
Oct 3, 2024Heyman Gregory Parker10% ownerSale1,269$0.02$25Form 4
Sep 30, 2024Heyman Gregory Parker10% ownerSale18,000$0.01$180Form 4
Sep 26, 2024Heyman Gregory Parker10% ownerSale26,000$0.01$260Form 4
Sep 25, 2024Heyman Gregory Parker10% ownerSale38,500$0.01$385Form 4
Sep 18, 2024Heyman Gregory Parker10% ownerSale218,999$0.01$2.2KForm 4
Sep 16, 2024Heyman Gregory Parker10% ownerSale220,833$0.01$2.2KForm 4
Sep 12, 2024Heyman Gregory Parker10% ownerSale200,000$0.01$2.0KForm 4
Sep 10, 2024Heyman Gregory Parker10% ownerSale180,873$0.01$1.8KForm 4
Sep 4, 2024Heyman Gregory Parker10% ownerSale168,811$0.01$1.7KForm 4
Aug 30, 2024Heyman Gregory Parker10% ownerSale108,688$0.02$2.2KForm 4
Aug 29, 2024Heyman Gregory Parker10% ownerSale97,000$0.02$1.9KForm 4
Aug 20, 2024Heyman Gregory Parker10% ownerSale16,000$0.02$320Form 4
Aug 19, 2024Heyman Gregory Parker10% ownerSale77,579$0.02$1.6KForm 4
Aug 14, 2024Heyman Gregory Parker10% ownerSale117,500$0.02$2.4KForm 4
Aug 13, 2024Heyman Gregory Parker10% ownerSale5,205$0.04$208Form 4
Aug 6, 2024Heyman Gregory Parker10% ownerSale27,700$0.04$1.1KForm 4
Jul 26, 2024Heyman Gregory Parker10% ownerSale50,000$0.02$1.0KForm 4

All 53 trades can be filtered by person here when JavaScript is on.

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 $6.6 million in a private offering of debt Form D: $10 million offered in all Form D

SEC filer profile

How Lowell Farms Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLowell Farms Inc.1
  • CIK0001838128
  • Filer status<br>emerging growth company1
  • Incorporated inBritish Columbia, Canada1
  • Fiscal year endsDecember 311
  • Industry code (SIC)0100 Agricultural Production-Crops1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address19 Quail Run Circle - Suite B, Salinas, CA 939071
  • Phone(831) 998-82141
  • Shares outstanding18,149,651 as of Nov 13, 20249
  • Public float$3.1M as of Jun 30, 20234
  • On EDGAR sinceJan 4, 20211
  • Filings231 in all: 8-K (71), 4 (56), 3 (20), 424B3 (17), 10-Q (12), CORRESP (7), EFFECT (6), UPLOAD (6)1
    All 22 form types

    SC 13D/A (5), DEF 14A (4), 10-12G/A (3), 10-K (3), D (3), POS AM (3), S-1 (3), SC 13D (3), 10-12G (2), SC 13G (2), SC 13G/A (2), 4/A (1), DEL AM (1), S-1/A (1)

  • Latest filingsAnnual report (10-K) Mar 28, 2024
    Quarterly report (10-Q) Nov 14, 2024
    Proxy statement (DEF 14A) Oct 15, 2024
    Latest 8-K (8-K) Dec 20, 2024

Sources

The numbers on this page point here. Each one links to the record it came from.

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