Acreage Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 10, 2021
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Acreage Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 47.87 million compared to USD 31.71 million a year ago. Revenue was USD 48.15 million compared to USD 31.74 million a year ago. Net loss was USD 12.3 million compared to USD 40.55 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.39 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to USD 0.39 a year ago.
For the nine months, sales was USD 127.67 million compared to USD 82.88 million a year ago. Revenue was USD 130.76 million compared to USD 83.04 million a year ago. Net loss was USD 22.66 million compared to USD 249.69 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 2.54 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to USD 2.54 a year ago.
Acreage Holdings, Inc. is a vertically integrated, multi-state operator in the United States cannabis industry. The Companyâs operations include cultivating and processing cannabis plants, manufacturing branded consumer products, distributing cannabis flower and manufactured products, and retailing dosable cannabis products to consumers. It is offering a range of products from its flagship brand, The Botanist, for adult-use sales in New Jersey. It has also launched Botanist Vape Cartridges and Disposables in Illinois, as well as Superflux Cured Concentrates. Its brand also includes Prime Wellness. It owns and operates eight cultivation and processing facilities, one each in Illinois, Maine, New Jersey, New York, Ohio, and Pennsylvania, respectively, and two in Massachusetts. The Company also owns 23 operational dispensaries in seven states. Its subsidiary, Universal Hemp, LLC, distributes, markets, and sells cannabidiol products.