U.S. Cannabis producer Curaleaf revenue rises 407% as losses widen

Max A. Cherney - finance.yahoo.com Posted 5 years ago

U.S. cannabis retailer and producer Curaleaf Holdings Inc. reported widening losses and revenue that grew 407% late Wednesday. The company reported fourth-quarter net losses of $16.5 million, or 4 cents a share, compared with profits of $624,000, or zero cents a share in the year-ago quarter. Revenue rose to $32 million from $6.3 million in the year-ago period, excluding revenue from managed entities. There are not enough analysts polled by FactSet on earnings or revenue to form reliable consensus estimates. Curaleaf said that insiders and investors agreed to voluntarily lock-up their shares until April 29. The company reiterated its full-year revenue guidance of $400 million. Curaleaf stock has gained 50% in the past three months, as the S&P 500 index 15%.

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