Once again it was another big week for earnings from some of the industry’s biggest players.
Curaleaf (CURLF) reported total revenue of $182 million. A 195% increase over last year. Still, the company had a net loss of $9.3 million. Current Curaleaf President, Joseph Bayern, has been appointed as the company’s next CEO. The current CEO Joseph Lusardi will be named Executive Vice-Chairman of the Board
Cresco Labs Inc. (OTCQX: CRLBF) released its unaudited financial results for the third quarter with revenue hitting $153.3 million. This was a 63% sequential increase over the second-quarter revenue of $93 million and an even bigger jump over last year’s revenue of $36 million for the 2019 third quarter. The company also delivered a net income of $4.9 million for the quarter versus last year’s net loss of $85 for the same time period last year.
Trulieve Continues to Flex With Strong Revenue Florida-based Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) reported revenue of $136.3 million for the third-quarter ending September 30, 2020. This was a 13% sequential increase over the second quarter and topped the analyst estimate for revenue of $131 million. Trulieve also delivered a positive net income of $17.4 million
Cannabis multi-state operator, Ayr Strategies, reported their third-quarter earnings today and revenue was up 61% quarter over quarter. The company reported a revenue of $45.5 million.
The smoking accessory e-commerce giant Greenlane Holdings, Inc. (Nasdaq: GNLN) reported that its net sales fell 20% to $35.8 million in the third quarter ending September 30, 2020 versus $44.9 million in the 2019 third quarter.
Vertically-integrated cannabis company, Harborside Inc., reported strong third-quarter results. The company reported total gross revenues of $19 million for Q3 of this year, up from $16 million in the second quarter.
Captor Capital Corp. (CSE: CPTR) announced its common shares will no longer be traded through the facilities of the OTC in the United States. The U.S. SEC has revoked the registration of the shares because the company has not been filing continuous disclosure documents.
Next week is Thanksgiving and we wish everyone a happy holiday. There will be no Marijuana Money next week.