Home Cannabis Curaleaf’s Performance in the First Nine Months of 2018

Curaleaf’s Performance in the First Nine Months of 2018

Curaleaf Holdings

As we discussed in the previous article, Curaleaf Holdings (CURLF), one of the leading cannabis operators in the United States, released its third-quarter earnings results on November 26.

Chart 02

The chart above compares Curaleaf’s revenues and net losses in the first nine months of 2018 and 2017.

Curaleaf’s revenue

Curaleaf Holdings reported a 247% increase in its revenue to $45.1 million in the first nine months of 2018 compared to $13.0 million in the same period of 2017.

Its revenue in the first nine months of 2018 was $55.0 million on a pro forma basis when consolidated for nonprofit entities.

Profitability margins

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Curaleaf Holdings reported a 275% rise in its gross profit to $25.9 million in the first nine months of 2018, excluding the impact of biological assets, compared to $6.9 million in the first nine months of 2017. In percentage terms, its gross profit margin expanded to 57% in the first nine months of 2018 compared to 53% in the comparable period of 2017.

However, Curaleaf reported a net loss of $40.8 million in the first nine months of 2018 compared to its net loss of $3.5 million in the comparable period of 2017. The loss included a one-time noncash accounting entry of $25.0 million in the quarter.

In the next article, we’ll discuss the company’s development highlights year-to-date.

The Horizons Marijuana Life Sciences Index ETF (HMMJ) holds 0.8% in Maricann (MRRCF), 8.1% in Aphria (APHA), and 1.0% in Vivo Cannabis (VVCIF).

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