Earnings season is in full swing, and this past week a large group of cannabis operators gave investors a glimpse behind the curtain into their finances.
Also this week, a Canadian retailer entered the US market for the first time, and an investment operator received a substantial amount of capital from a recognized player.
Keep reading to find out more cannabis highlights from the past five days.
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Earnings season provides closer look at cannabis operations
Investors have been busy keeping up with the barrage of recent financial reports from a vast collection of cannabis companies in the public markets.
These reports offer a look at the progress for cannabis operators and where some may be ahead while others struggle. The following list shows some of the companies that released figures this past week:
US companies
Cresco Labs (CSE:CL,OTCQX:CRLBF): This operator reported net income of US$2.7 million thanks to a revenue line of US$210 million, which means the company confirmed its guidance of an “annualized revenue run-rate of US$1 billion by the end of 2021.”
Curaleaf Holdings (CSE:CURA,OTCQX:CURLF): The Massachusetts-based cannabis company reported a net loss of US$7 million for the Q2 period, mostly attributed to higher stock-based compensation and the expenses of its expansion plan into Europe. Executive Chairman Boris Jordan said the company is...
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