CSE:ACRG.A.U - Post by User
Post by
Quietinvestoron Nov 11, 2020 10:35pm
499 Views
Post# 31882700
Q3 2020 - GOOD
Q3 2020 - GOOD THIRD QUARTER FINANCIAL HIGHLIGHTS (UNAUDITED) - Reported revenue was $31.7 million, a 42% increase compared to the same period in 2019, and a 17% increase compared to the second quarter of 2020.
- Partner revenue was $17.0 million, a 79% increase compared to the same period in 2019, and a 2% increase compared to the second quarter of 2020.
- Company-owned same store sales growth was 36%, marking the seventh consecutive quarter of double-digit same store sales comparisons.
- Same store sales growth for our managed entities was 22%.
- Gross margin was 42.5%, an 80 basis point decrease compared to the same period in 2019, and a 110 basis point increase compared to the second quarter of 2020. The year over year gross margin decline was in large part due to a one-time significant wholesale opportunity in Massachusetts, which did not repeat this year.
- Net loss attributable to Acreage was $35.7 million, while adjusted net loss* attributable to Acreage was $14.3 million.
- Adjusted EBITDA* was a loss of $6.9 million compared to a loss of $11.7 million in the same period in 2019.
- Managed Entities' EBITDA* was $4.7 million compared to a loss of $0.6 million in the same period in 2019.
We will see tomorrow.
GLTA