Friday, May 30, 2025

Latest

Acreage Holdings Records US$56.9 Million In Revenue, US$13.9 Million Net Loss For Q1 2022

Acreage Holdings, Inc. (CSE: ACRG.A.U) last night released its Q1 2022 financial results, which saw the company post US$56.9 million in revenue. While this is an increase from Q1 2021’s revenue of US$38.4 million, this is a marginal decline from Q4 2021’s revenue of US$58.1 million.

“The year-over-year growth was primarily driven by the acquisitions of Ohio, California, and Maine operations over the past 12 months,” the company said in its statement.

The revenue for this quarter consists of US$41.4 million from retail revenue, US$15.2 million from wholesale revenue, and US$0.3 million from other revenue. The gross profit margin for the quarter came in at 52%, as compared to last quarter’s 48% and last year’s 54%.

Acreage also recorded a US$13.9 million net loss for the quarter, a notable climb from last quarter‘s US$35.6 million net loss but a dip from last year’s net loss of US$8.6 million. The net loss this quarter translates to US$0.12 loss per share.

The company also recorded its 5th consecutive positive adjusted EBITDA at US$8.6 million, compared to last quarter’s US$8.5 million and last year’s US$1.6 million. 

The company ended the quarter with US$32.6 million in cash and restricted cash, a drop from last quarter’s US$43.2 million. Current assets came in at US$103.7 million while current liabilities ended at US$83.1 million.

Acreage Holdings, Inc. last traded at $1.20 on the CSE, then dropped by as much as 10%.


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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Acreage Holdings Sells Florida Ops To Red White & Bloom For $60.0 Million

Acreage Holdings (CSE: ACRG.A.u) has sold its Florida operations. The company this morning announced in...

Thursday, February 25, 2021, 07:11:00 AM

Canopy to Buy Right to Acquire 100 percent of the Shares of Acreage in Proposed $3.4B Deal

It’s official. Canopy Growth Corporation (TSE: WEED) has announced a deal to purchase a right...

Thursday, April 18, 2019, 02:07:27 PM

Canopy Growth Finally Completes Acquisition Of Acreage Holdings

Canopy Growth (TSX: WEED) has completed its acquisition of Acreage Holdings (CSE: ACRG), which was...

Monday, December 9, 2024, 09:16:41 AM

Updated: Rumors Swirling Canopy In Acquisition Talks with Acreage

This afternoon, rumors started swirling that Canopy ($WEED) is looking to acquire Acreage Holdings ($ACRG.c)....

Wednesday, April 17, 2019, 09:25:27 PM

Acreage Holdings Reports to Sedar, Pretty Far from Pre-Public Guidance

After the bell Acreage Holdings (CSE: ACGR.u) released their financial statements on Sedar. They previously...

Friday, November 22, 2019, 08:27:00 PM