This Cannabis Multi-State Operator Was The Only One With Solid Profits In The Last Quarter

Most U.S. cannabis multistate operators reported modest to significant year-over-year revenue gains.

Among the companies with the highest revenue in the third quarter were Curaleaf Holdings (OTC: CURLF) with $339 million followed by Trulieve Cannabis (OTC: TCNNF) with $300 million.

In a similar range was Green Thumb Industries (OTC: GTBIF) with $261 million, Verano Holdings (OTC: VRNOF) ($228M), and Cresco Labs (OTC: CRLBF) ($210M), followed by Columbia Care (OTC: CCHWF) with $132M, Ayr Wellness (OTC: AYRWF) with $119.6M, Ascend Wellness Holdings (OTC: AAWH) ($111M), Jushi Holdings (OTC: JUSHF) ($72.8M), TerrAscend (OTC: TSRRF) ($67M) and Acreage Holdings (OTC: ACRHF) ($61.4).

Those with a presence in emerging markets, such as New Jersey, experienced significant year-over-year growth in revenues in the third quarter of 2022. According to MJBizDaily Curaleaf increased its revenues by 7%, Green Thumb Industries by 11.8%, Verano Holdings by 10%, Columbia Care by 0.3%, Ascend Wellness by 17.9%, TerrAscend 36.4% and Acreage Holdings by 28%.

The highest QoQ % change in revenue was that of Ascend Wellness, with a %14.1 increase.

Among those companies with the highest profit loss was Truelieve with -$114.55 million and TerrAscend with -$55.8 million, followed closely by Jushi Holdings with -$52.9 million and Curaleaf with -$51.4 million lost.

Only Chicago-based Green Thumb Industries reported a profit for that quarter, at $131 million. “That’s a 506% increase from a year ago when Green Thumb reported a $21.6 million profit for the same period,” reported journalist Kate Robertson for MJBizDaily.

Image By Tania Dimas On Pixabay.