Press Release

DENVER, COLORADO (Feb. 14, 2022) – Greenlight Distribution, a leading seller of controlled environment agriculture products and a direct lender to U.S. commercial cannabis cultivators, today reported record revenue and profit growth for its year ended December 31, 2021.

 

Greenlight Distribution reported revenue increased over 800% while profit increased more than 1000% year over year. 

 

Dennis O’Carroll, Founder and CEO of Greenlight Distribution commented, “We are very pleased with our growth in 2021 and expect that trend to continue throughout 2022 even while the hydroponics market has slowed significantly. Our strategy of building lasting personal relationships with commercial cannabis cultivators has resulted in success for us and for them as the industry expands. For 2022, we expect continued revenue growth of over 500% with corresponding profit growth.”

 

Greenlight Distribution’s business model is the catalyst for the growth. The company offers everything a commercial cannabis cultivator needs to be successful, including some of the top brands, proven products, the industry’s best warranties and service, and equipment financing. The company’s exclusive focus on the cannabis industry allows it to understand the specific needs of cultivation businesses.

 

The company’s vendors drop-ship cultivation equipment directly to Greenlight Distribution’s customers. This allows Greenlight Distribution to keep overhead low and pass the savings to its cultivators.

 

Greenlight Distribution introduced popular new services in 2021, including Greenlight DIRECT, a consumable subscription service that automatically delivers nutrients and grow media to cultivators each month.

 

Additionally, the company’s partnerships with Suite 420 Solutions and Suite 420 Access allow commercial cultivators to get financing at favorable rates. Suite 420 Solutions, one of the original direct lenders in the cannabis industry, provides debt financing to drive growth and valuation while allowing entrepreneur-owners to retain maximum ownership and profit. Suite 420 Access provides capital for minority-owned cannabis businesses, allowing entrepreneurs to retain ownership, maximize profits and positively impact their communities, while removing systemic barriers to the cannabis industry.