Acreage Holdings Inc announces their third quarter highlights in their 2019 financial reports
Acreage Holdings Inc, one of the largest vertically integrated cannabis operators in the U.S., today reported financial results for the quarter ended September 30, 2019.
A Summary of the Third Quarter Highlights
- Reported third quarter revenue of $22.4 million, a 307% increase compared to the same period in 2018
- Pro forma revenue for the third quarter was $42.2 million
- Reported a net loss attributable to Acreage of $39.9 million
- Adjusted net loss attributable to Acreage was $15.0 million
- Pro forma adjusted EBITDA was a loss of $9.1 million
Commented Acreage Chairman and CEO Kevin Murphy: "The third quarter was highlighted by tremendous progress of our long-term plan. We launched great cannabis brands that are receiving strong influencer praise, continued building out our wholesale businesses across our national footprint, and achieved 100 percent retail distribution in the fast growing market of Pennsylvania.
Importantly, we also have a path to secure the capital resources necessary to fund our future expansion and acquisition activities. The last six months have been challenging for the entire industry, but as I have emphasized since day one, this is a long game and I have never been more optimistic about the future of Acreage."
To access the full financial reports visit Acreage Holdings Inc on their company website here.
Disclaimer: Past performance is not an indicator of future performance.
Disclaimer: past performance is not an indicator of future performance
To learn more about Acreage Holdings visit their Company HQ here.
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