Cresco Labs Posts $214.4 Million In Revenue, $23.7 Million Net Loss In Q1 2022

Cresco Labs (CSE: CL) released its Q1 2022 financials, highlighting a quarterly revenue of $214.4 million. This is a decrease from Q4 2021’s $217.8 million but an increase from Q1 2021’s $178.4 million.

“While our 10-state footprint saw a cumulative sequential contraction of 4.5%, we held or took market share in most of our states and outperformed the markets with our 2% decline,” said CEO Charles Bachtell.

However, the firm still ended with a net loss of $23.7 million compared to the net losses of $11.9 million and $24.1 million last quarter and last year, respectively.

Silver47 Exploration Inc. — sponsored Sponsored · Silver47 Exploration Inc.

Calibrating for financial items, adjusted EBITDA for the year ended at $50.7 million, a decrease from last quarter’s $57.0 million (which itself includes an adjustment for a $14.9 million impairment loss) but an increase from last year’s $35.0 million.

The firm ended Q1 2022 with $181.9 million in cash, cash equivalents, and restricted cash balance coming from a starting balance of $226.1 million at the beginning of the quarter. The cash burn is mainly due to spending in investing activities at $34.2 million.

Cresco Labs last traded at $5.00 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. 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.

Video Articles

The Red Cloud Fall Mining Showcase 2026 | Day 1

Can an Old Irish Mine Recover the Silver It Left Behind? | Julian Vickers – Northmin Corporation

Is Gold at $4,000 a Buy Zone or a Breakdown? | David Morgan

Recommended

Police Contain ‘Active Threat’ at University of Toronto Mississauga Residence

McLaren Resources Launches Satellite Targeting Program Across Three Timmins Area Gold Properties

Related News

Cresco Labs Purchases Origin House With Tiny Premium Becoming One of the Largest MSOs

Today Cresco Labs announced they are acquiring Origin House for C$1.1B which works out to...

Monday, April 1, 2019, 01:37:11 PM

Cresco Labs Reports $215 Million Net Loss For 2022

Cresco Labs (CSE: CL) saw its revenues in 2022 increase 3% over the prior year....

Thursday, March 16, 2023, 09:57:10 AM

US Cannabis: The Current Landscape

Welcome to the Deep Dive Video Essay Series. Today we are looking at US Cannabis....

Saturday, March 6, 2021, 09:00:00 AM

Cresco Labs Insiders Unload $32.8 Million Worth Of Shares In Early Morning Trade

Yesterday morning, popular cannabis investor Todd Harrison commented on Twitter that unusual trading activity had...

Tuesday, December 8, 2020, 07:17:38 AM

Cowen & Co Issues US Cannabis Update, Remains Bullish on Green Thumb, Cresco, Curaleaf

On the first of the month, Cowen and Co sent out an industry update specifically...

Sunday, September 6, 2020, 01:37:00 PM