Bullboard - Stock Discussion Forum Acreage Holdings Inc C.ACRG.B.U

Primary Symbol: C.ACRG.A.U Alternate Symbol(s): ACRHF | ACRDF

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Acreage Holdings, Inc. is a vertically integrated, multi-state operator in the United States cannabis industry. The Company’s operations include cultivating and processing cannabis plants, manufacturing branded consumer products, distributing cannabis flower and manufactured products, and retailing dosable cannabis products to consumers. It is offering a range of products from its flagship... see more

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CSE:ACRG.A.U - Post Discussion

Acreage Holdings Inc > Q3 2020 - GOOD

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Post by Quietinvestor on Nov 11, 2020 10:35pm

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.