Curaleaf Holdings (CURA) (CURLF) is a vertically integrated cannabis company headquartered in Wakefield, Massachusetts. The company’s footprint spans across 13 states and covers an addressable market size of $7.7 billion out of the total US market size of $11.0 billion, as estimated by Arcview.
As of January 11, Curaleaf operates 39 dispensaries, 12 cultivation facilities, and ten manufacturing facilities. The 12 cultivation facilities cover ~650,000 square feet and have the capacity to produce 63,000 pounds of dry flower. The company plans to expand the cultivation facility to ~1 million square feet with a production capacity of 290,000 pounds by 2020. The company’s ten manufacturing facilities produce more than 20,000 grams of cannabis oil per week.
Curaleaf currently operates 39 dispensaries. However, the company plans to expand to 69 dispensaries by the end of 2019 and 71 dispensaries by the end of 2020.
Curaleaf offers its products under the brand names of Curaleaf, Curaleaf Hemp, and UKU Craft Cannabis. These products are offered in a variety of formats, including flower, edibles, capsules, oils for vaping and concentrates, micro-tablets, tinctures, and topical lotions.
Performance in first three quarters and outlook
In the first three quarters of 2018, Curaleaf posted revenues of $45.1 million, which represents growth of 247% from $13.0 million in the corresponding three quarters of 2017. During the period, the company had incurred net losses of $40.8 million.
During the same period, peers Planet 13 Holdings (PLNHF), CannTrust Holdings (CNTTF), and Acreage Holdings (ACRGF) have posted revenue growth of 130.2%, 114.9%, and 91.6%, respectively. For 2019, Curaleaf’s management expects its revenue to reach $400 million.
Next, we will look at analysts’ recommendations.