E Cannabis Central: Acreage Q2 Financials Showed Major Improvement

Acreage Holdings Inc. (ACRGF), a vertically integrated, multi-state operator of cannabis licenses and assets in the U.S., reported its Q2 financial results yesterday.

Financial Highlights (All financial information is provided in U.S.  dollars - go here to convert into another currency - and compared to the previous quarter.)

  • Revenue: increased by 12% to $27.1M
  • Gross Margin: increased by 30 basis points to 41.4%
  • Net Loss: decreased by 78% to $(37.2M)
  • Net Loss/Share: decreased by 82% to $(0.38)
  • Adj. EBITDA: improved by 46% to $(6.7M)

Management Commentary

Bill Van Faasen, Interim Chief Executive Officer said: 

  • “I am very pleased with our second quarter financial results.
  • Our refocused strategy is working as seen in our improved margins and EBITDA.
  • While there is still much work to do, I am encouraged Acreage has turned the corner toward an accelerated path to profitability."

Stock Performance

The stock price is down 51% YTD and continued to slide today in spite of the Q2 report of considerable improvement in all aspects of its operation as the chart below so clearly illustrates:

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Comments

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William K. 1 year ago Member's comment

Interesting.