Marijuana Money: March 4, 2022

It was a huge week for cannabis company earnings, so we’re just going to hit the big ones. Head over to the website for more in-depth information.

Green Thumb Industries Inc.  (CSE: GTII) (OTCQX: GTBIF) reported total revenue in the fourth quarter of 2021 was $243.6 million, up 37.4%. Net income was $22.8 million. For the full year 2021, total revenue was $893.6 million.

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) reported that in the fourth quarter it had net revenue of $25.8 million but once again the company recorded an eye-popping net loss of $133 million.  For the full year, the net revenue was $74.4 million but the operating loss for the full year was a staggering $560 million, while the net loss was $389 million. 

Village Farms (NASDAQ: VFF) reported sales for the fourth quarter increased 55% to $72.8 million. Sales for the full year were $268 million. 

The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) reported revenue of $23 million for the fourth quarter, which fell sequentially. The total sales for the full year were $90 million. Valens gave revenue guidance for 2023 of at least $225 million.

Both hydroponic companies GrowGen and Hydrofarms had mixed results. GrowGen’s same-store sales dropped and Hydrofarm’s sales increases were only due to acquisitions.

Curaleaf, which is under the microscope for its Russian connections reported its numbers.

Tilray Brands, Inc.  (Nasdaq: TLRY) is striking up a partnership with Hexo Corp. (Nasdaq: HEXO) by buying $211 million of its debt. In December, Hexo warned that the company was in trouble and said it would have trouble paying its debts. 

And finally, it’s women’s history month and Green Market Report announced its women’s summit to be held on April 28 in NYC. Registration is open and you can find the link on the website.

Video Staff

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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


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