Cresco Labs Inc. (OTCQX: CRLBF), a vertically integrated multi-state cannabis operator in the United States, today released its unaudited financial results for the second quarter ended June 30, 2020, and, as can be seen below, they were outstanding across the board.

Q2 Financial Highlights (All financial information is in U.S. dollars, unless otherwise noted, and is comparative to Q1)

• Revenue: increased 42% to $94.3M
• Gross Profit: increased 103.5% to $69.5M
• G.P. as % of Rev.: 73.7% vs. 51.4%
• SG&A Expense: reduced 3.1% to $50.5%
• Net Loss: reduced 65.0% to $(4.8M)
• Cash/Equiv. on Hand: increased 3.5% to $73.9M
• Adj. EBITDA: increased 206.5% to $52.5M

Management Commentary

Charles Bachtell, Co-founder and CEO, had the following comments:

• “...We are also beginning to see the fruits of our labor come to bear.
• We grew revenue in every single one of our U.S. markets sequentially by more than 30%, with the exception of Massachusetts, where adult use was halted for part of the quarter.
• We are accelerating growth and beginning to generate substantial leverage as we scale our operations and benefit from the investments we’ve made over the past 12 months.”

Stock Performance

Cresco was UP 55.9% during Q2 which demonstrates how well managed, how well-financed and how well the company executed its business plan during the quarter...