It’s time in your Each day Hit of hashish monetary information for November 11, 2021.
On The Web site
Ascend Wellness Holdings, Inc. (OTCQX: AAWH) reported its monetary outcomes for the third quarter ending September 30, 2021, with complete income growing 7.7% sequentially to $105 million and 131.4% year-over-year. Nonetheless, Ascend reported a internet lack of $13.0 million in the course of the quarter. The corporate stated it was primarily pushed by elevated curiosity expense on account of one-time prepayments of legacy loans and write-offs of unamortized deferred financing prices.
WM Know-how, Inc. (Nasdaq: MAPS) introduced its monetary outcomes for the third quarter ended September 30, 2021. Income for WeedMaps elevated to $50.9 million, up 9% from the third quarter of 2020 or 46% within the U.S. (when adjusting the prior third quarter to exclude income related to Canada-based retail operators who failed to offer legitimate license data and had been subsequently faraway from the Weedmaps market). Internet revenue was $49.2 million as in comparison with $15.5 million from the prior yr interval.
Aleafia Well being Inc. (OTCQX: ALEAF) reported its monetary outcomes for the three ending September 30, 2021 as income elevated 123% to $9.4 million. Nonetheless, Aleafia reported an eye-popping internet lack of $82.9 million versus final yr’s internet lack of $19.8 million. The corporate attributed the rise in internet loss over the prior yr’s quarter to non-cash objects together with a $53.1 million impairment of intangible belongings and an $11.3 million impairment of goodwill.
Acreage Holdings, Inc. (OTCQX: ACRHF, ACRDF) reported its monetary outcomes for the third quarter of 2021 ending September 30, 2021, with complete income growing 52% to $48.2 million, a rise of 9% sequentially. Yahoo Finance solely recorded one analyst estimate for earnings of $34 million, which Acreage beat. Acreage additionally delivered a internet lack of $12.3 million, an enchancment from a lack of $40.5 million for a similar time interval in 2020.
GrowGeneration Corp. (NASDAQ: GRWG) reported third-quarter 2021 revenues of $116.0 million, versus $55.0 million in the identical interval final yr. This beat the Yahoo Finance common analyst estimate for income of $114 million. GrowGen additionally delivered a internet revenue of $4.0 million, or $0.07 per share primarily based on a fundamental share rely of 58.5 million. This missed the analyst estimate for earnings of $0.09 per share.
Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) introduced its monetary outcomes for the third quarter ending September 30, 2021, with income rising 2.6% sequentially to $215.5 million, and a rise of 40.6% year-over-year. Nonetheless, Cresco recorded a non-cash impairment cost of $291 million within the quarter because of the strategic shift in California operations. That resulted in a internet loss for the quarter of $263 million. Cresco reported a file internet wholesale income of $109.3 million and file retail income of $106.2 million from 37 shops.
In Different Information
Glass Home Manufacturers Inc. (OTCQX: GLASF and GHBWF) reported monetary outcomes for its third-quarter ending September 30, 2021. Internet gross sales elevated 29% to $17.2 million from $13.3 million in Q3 2020 and declined 8% sequentially from $18.7 million in Q2 2021. Kyle Kazan, Glass Home Chairman, and CEO, said: “The California market is now within the long-awaited technique of commoditization, and this can be tough for all who’ve operations within the Golden State. It’s a crucial step within the maturation of the market and much like what occurred in Colorado, Washington, and Oregon. We’re leaning into this era by specializing in considerably reducing our COGS by way of scale and automation at our newly bought Camarillo facility as we consider that highest high quality on the lowest manufacturing prices in California would be the massive winner.”
Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) introduced monetary outcomes for its third quarter ended September 30, 2021. Internet gross sales elevated 28.1% to $123.8 million in comparison with $96.7 million. Internet revenue attributable to frequent stockholders was $17.3 million or $0.37 per diluted share, in comparison with $2.0 million or $0.08 per diluted share. Professional forma adjusted internet revenue was $7.7 million or $0.17 per professional forma diluted share, in comparison with $4.3 million or $0.13 per professional forma diluted share.
The statements made regarding these merchandise haven’t been evaluated by the Meals and Drug Administration. The efficacy of these merchandise has not been confirmed by FDA-approved evaluation. These merchandises are often not meant to diagnose, take care of, treatment, or forestall any sickness. All information discovered proper right here won’t be meant as another choice to or completely different from information from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or completely different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.