Curaleaf Holdings Beats On Revenue But Misses On EPS In Q2 2021

"Our leading positions in cultivation and distribution are driving some of the strongest revenue growth rates in the sector, while our scale and focus on cost efficiency are delivering Adjusted EBITDA margin expansion as promised," Joe Bayern, CEO of Curaleaf, disclosed.

EMMAC Investment

In April, the Wakefield, Massachusetts-based company closed the previously announced $310 million worth acquisition of one of the largest cannabis companies in Europe, EMMAC Life Sciences, creating Curaleaf International Holdings Limited on the island of Guernsey to further strengthened its European footprint.

Shortly after, Curaleaf International opted to team up with several European companies through its subsidiaries to strengthen its position within the market further.

"Our acquisition of EMMAC and establishment of Curaleaf International this quarter marks our entry into Greater Europe, with a population of 750 million representing a potential market size twice that of the United States," Jordan explained.

After teaming up with an Italian pharmaceutical company, Zambon Spa, via its subsidiary Adven GmbH to advance its medical cannabis products in Germany, the company reported hitting a milestone of successfully exporting more than one metric ton of medical cannabis to Israel as part of a larger supply deal with BOL Pharma.

In July, Curaleaf International introduced a second range of medical cannabis flower products for the U.K. market, boosting its existing medical cannabis flower and oil products portfolio.

Price Action

Curaleaf’s shares were trading 0.58% lower at  $11.91 per share at market close Monday.

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