Acreage Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 03:31 am IST
Share
Acreage Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 61.12 million compared to USD 47.87 million a year ago. Revenue was USD 61.42 million compared to USD 48.15 million a year ago. Net loss was USD 22.21 million compared to USD 12.3 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 0.12 a year ago.
For the nine months, sales was USD 178.77 million compared to USD 127.67 million a year ago. Revenue was USD 179.65 million compared to USD 130.76 million a year ago. Net loss was USD 44.84 million compared to USD 22.66 million a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 0.22 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.
ACREAGE HOLDINGS, INC. 
