Green Market Report's Marijuana Money August 14, 2020

We are back on the grid after losing power for a week due to the tropical storm. 2020 right? Thanks for sticking with us as we were operating at a diminished capacity.

This week was about earnings. We got financial reports from some of the biggest operators in the industry and it was a mixed bag with some companies crushing it while others still struggle with big losses. We will just hit the highlights here

Trulieve who reported eye-popping revenue of $120 million for the second quarter. Still, the company’s net income fell dramatically to just $6.6 million from last year’s $57 million due to adjustments.

Canopy Growth Corporation reported first-quarter fiscal 2021 net revenue increased 22% to $110 million. The net loss of $128 million was lower than last year’s net loss by $66 million, but they are still losing more than they are making. 

Harvest Health and Recreation increased their total revenue by 109% from 2019’s second quarter. This year, the company generated $55.7 million as opposed to $26.6 million in Q2 of 2019. Net loss for the second quarter was $18.3 million.

Acreage Holdings reported second-quarter revenue of $27.1 million, a 53% increase compared to the same period in 2019. Like Canopy, its eventual owner the Net loss was $37.2 million, so still losing more than making

Hydroponic store chain GrowGeneration Corp. reported revenues of $43.5 million for the second quarter and is raising its guidance for 2020 revenue between  $170 million–$175 million. Revenue guidance for  2021 is $245 million–$260 million.

Despite a tightened capital market, HEXO managed to raise almost $35 million in an at the market offering of shares. 

Cannabis tech company Fyllo raised another $10 million as it plans to expand beyond the cannabis industry. 

In psychedelics’ news Revive Therapeutics is introducing dissolvable, oral psilocybin film-strips to their portfolio.

Video Staff

One comment

  • tim stauffer

    August 24, 2020 at 3:45 pm

    Today’s date is the 24th Aug 20.
    I saw the earnings report on Grow Generations corp, Grwg.
    It happens to be one of the few Nasdaq list companies in the canabis industry I don’t own. Maybe it’s dumb luck.
    I have been keeping an eye on it it waiting for a pull back. Well it’s happening. Then I found out why. On Business wire. It’s just an investigation from a law firm “Schall” not the government but these are serious allegations.
    The good news is I still don’t own any. I do wish there would be a way to look up filings and investigations. Have a great day!


Leave a Reply

Your email address will not be published. Required fields are marked *

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.


We respect your privacy. See our privacy policy.

About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


Recent Tweets

@GreenMarketRpt – 5 hours

Law Could Allow Cannabis Ads on Local TV, Radio

@GreenMarketRpt – 6 hours

CannaRegs Lawsuit Comes To A Quiet End

@GreenMarketRpt – 7 hours

Summer Trends See Sales Spikes on Holidays, Long Weekends

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.


We respect your privacy. See our privacy policy.