NCS Analytics Completes Independent Agreed-Upon Procedures Engagement Related to NCS Analytics' Validation of NCS Thea

DENVER, Sept. 8, 2026 /PRNewswire/ -- NCS Analytics engaged Armanino LLP, an independent certified public accounting firm, to perform agreed-upon procedures related to certain aspects of NCS Analytics' validation of NCS Thea, a lending intelligence platform designed specifically for financial institutions, private lenders, credit funds, and other organizations providing capital to licensed cannabis businesses. 

Armanino LLP performed the agreed-upon procedures and reported its factual findings in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those procedures were performed over certain specific elements of the model's data inputs, application of NCS's scoring methodology, calculation of certain scoring components of Thea's Risk Lending Scores, the assignment of risk classifications, and presentation of the model's outputs.

"Cannabis lenders need objective, reliable intelligence to make informed decisions," said Adam Crabtree, Founder and CEO of NCS Analytics. "This independent engagement reflects our commitment to transparency and rigor in the development and validation of NCS Thea, providing additional confidence in key aspects of the model's methodology and outputs."

NCS Thea was developed because cannabis lending creates unique challenges that traditional underwriting tools were never designed to address. Financial statements are often inconsistent, conventional credit data is limited, and the industry's regulatory complexity makes it difficult to validate borrower performance.

NCS Thea tackles these challenges by combining government-verified operational data from state cannabis track-and-trace systems with NCS Analytics' proprietary behavioral and predictive analytics to provide an objective, independent assessment of business health and lending risk.

"This AUP engagement is not a checkbox. It is the foundation for responsible deployment. By subjecting NCS Thea to external scrutiny, we have confirmed its readiness to support risk decisions with confidence and accountability," said Paige Reimers, COO of NCS Analytics.

About NCS Analytics

NCS Analytics, founded in 2015 in Denver, Colorado, is a leading advanced analytics company that empowers regulators and financial institutions to oversee high-risk industries—starting with cannabis—through its NCS Platform. This SaaS solution aggregates millions of daily data points, delivering real-time anomaly detection, risk scoring, alerts, and compliance monitoring to prevent diversion, fraud, and non-compliance while supporting BSA/AML requirements. NCS Analytics monitors thousands of licenses across multiple states, processes 89M+ records weekly, and launched its newest analytic tool, the Risk Index, in 2025. Discover how NCS empowers real-time critical decision-making with absolute confidence at ncsanalytics.com.

SOURCE NCS Analytics