Systemwide Pro Forma Revenue 1 of $34.4 million compared to $31.4 million in Q1 2021, an increase of 85% year over year and 10% over Q1 2021
Q2 2021 Adjusted EBITDA increased 27% sequentially to $7.5 million as compared to Q1 2021, representing an Adjusted EBITDA margin of 22%
Navy Capital committed to lead financing of proposed accretive acquisition in core market
Reiterated FY2021 guidance for Systemwide Pro Forma Revenue of $170 -180 million and Adjusted EBITDA of $40 -50 million
The Company’s existing licensed projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million
Conference call to be held today, August 16, 2021 at 5:00 p.m. ET
PHOENIX, Ariz. , Aug. 16, 2021 /PRNewswire/ – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), a vertically integrated, multi-state cannabis operator and retailer, today announced its financial results for the second quarter ended June 30, 2021 (“Q2 2021”). All financial information is presented in U.S. dollars unless otherwise indicated.
Q2 2021 Financial Results Highlights
- Systemwide Pro Forma Revenue of $34.4 million compared to $31.4 million in Q1 2021, an increase of 85% year over year and 10% over Q1 2021
- GAAP-reported revenue of $27.1 million compared to $23.0 million in Q1 2021, an increase of 114% year over year and 18% over Q1 2021
- Adjusted EBITDA increased 27% to $7.5 million compared to $5.9 million in Q1 2021,...
Read Full Story: https://investingnews.com/daily/cannabis-investing/4front-ventures-reports-second-quarter-2021-financial-results-and-provides-business-update/
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