Acreage Holdings, Inc. (CSE: ACRG.A.U) last night released its Q1 2021 financial results, which saw the company post US$38.4 million in revenue. This is an increase from Q1 2020’s revenue of US$24.2 million.
The revenue for this quarter consists of US$25.8 million from retail revenue, US$10.0 million from wholesale revenue, and US$2.5 million from other revenue. The gross profit margin for the quarter came in at 53.7%, as compared to last year’s 41.1%.
Acreage also recorded a US$8.6 million net loss for the quarter, a notable climb from last year’s net loss of US$222.2 million. The net loss this quarter translates to US$0.07 loss per share. However, this quarter marks the first time the company recorded a positive adjusted EBITDA of US$1.6 million, as compared to last year’s US$12.3 million negative adjusted EBITDA.
The company ended the quarter with US$45.9 million in cash and restricted cash, a drop from last quarter’s US$54.6 million.
Acreage Holdings, Inc. last traded at $4.90 on the CSE.
Information for this briefing was found via Sedar and Acreage Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
US Cannabis, Momentum, With Lots of Hurdles
The US Cannabis market has been a confusing ride for investors to comprehend. We have...