Curaleaf Hits US$312.2 Million In Revenue For Q2 2021
Curaleaf Holdings, Inc. (CSE: CURA) on Monday announced its financial results for Q2 2021, which recorded US$312.2 million in revenue. This is an increase from Q1 2021’s US$260.3 million and beats the analysts’ consensus estimate.
The quarterly revenue also landedwithin the company’s guidance of US$305–US$315 million. Breaking down the earnings for the quarter, retail revenue yielded US$222.1 million while wholesale revenue posted US$89.3 million.
The company posted a net loss of US$9.7 million for the quarter, compared to last quarter’s net loss of US$17.2 million. This translates to US$0.01 loss per share.
While the company recorded a positive operating income this quarter, a US$42.6 million income tax expense made a huge impact on the resulting net loss. Adding this back, among other financial expenses, the company’s adjusted EBITDA is US$84.4 million from last quarter’s US$62.6 million.
The cannabis firm also relayed that the net result for the quarter is impacted by higher stock-based compensation and one-time charges related to the acquisition of EMMAC (now Curaleaf International).
The company ended the quarter with US$333.8 million in cash and US$215.3 million in current liabilities. In a recent analysts report, the consensus 12-month price target on the company is at $28.28.
Curaleaf Holdings last traded at $14.97 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.
