This Cannabis Multi-State Operator Was The Only One With Solid Profits In The Last Quarter

Most U.S. cannabis multistate operators reported modest to significant year-over-year revenue gains.

Among the companies with the highest revenue in the third quarter were Curaleaf Holdings CURLF with $339 million followed by Trulieve Cannabis TCNNF with $300 million.

In a similar range was Green Thumb Industries GTBIF with $261 million, Verano Holdings VRNOF ($228M), and Cresco Labs CRLBF ($210M), followed by Columbia Care CCHWF with $132M, Ayr Wellness AYRWF with $119.6M, Ascend Wellness Holdings AAWH ($111M), Jushi Holdings JUSHF ($72.8M), TerrAscend TSRRF ($67M) and Acreage Holdings ACRHF ($61.4).

Those with a presence in emerging markets, such as New Jersey, experienced significant year-over-year growth in revenues in the third quarter of 2022. According to MJBizDaily Curaleaf increased its revenues by 7%, Green Thumb Industries by 11.8%, Verano Holdings by 10%, Columbia Care by 0.3%, Ascend Wellness by 17.9%, TerrAscend 36.4% and Acreage Holdings by 28%.

The highest QoQ % change in revenue was that of Ascend Wellness, with a %14.1 increase.

Among those companies with the highest profit loss was Truelieve with -$114.55 million and TerrAscend with -$55.8 million, followed closely by Jushi Holdings with -$52.9 million and Curaleaf with -$51.4 million lost.

Only Chicago-based Green Thumb Industries reported a profit for that quarter, at $131 million. “That’s a 506% increase from a year ago when Green Thumb reported a $21.6 million profit for the same period,” reported journalist Kate Robertson for MJBizDaily.

Image By Tania Dimas On Pixabay

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Posted In: CannabisEarningsNewsPenny StocksSmall CapMarketsAcreage Holdings Inc.Ascend Wellness HoldingsAyr WellnessColumbia CareCresco LabsCuraleaf HoldingsGreen Thumb IndustriesJushi HoldingsTerrAscend Corp.Trulieve Cannabis Corp.Verano Holdings
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