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CURALEAF Holdings Inc.(CSE: CURA) (OTC: LDVTF) Q3 Revenue GROWS 289% Project 400 Million in 2019 🔥✅

977 views · Published 26 November 2018 · 22:20 · Indexed 10 November 2026

Channel: RICH TV SHOW · 2018 · Education

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CURALEAF Holdings Inc. (CSE: CURA) (OTC: LDVTF) Q3 Revenue GROWS 289% Project 400 Million in 2019 - RICH TV LIVE - Curaleaf Reports Third Quarter 2018 Financial and Operational Results
WAKEFIELD, Mass., Nov. 26, 2018 /PRNewswire/ —

Total Revenue for Q3 and Nine Months 2018 Increased 289% and 247%, Respectively
Total Revenue for Q3 2018 Increased 46% Sequentially Compared to Q2 2018
On a Pro-forma Basis, Consolidated with Non-profit Entities, Revenue for Q3 and Nine Months 2018 Was $25 Million and $55 Million, Respectively
Successfully Raised Approximately US$400 Million in Oversubscribed Private Placement
Ended Q3 2018 with 29 Curaleaf Retail Locations; On Pace to Have Over 40 Locations by End of 2018 and at least 67 Locations at End of 2019
Curaleaf Holdings, Inc. (CSE: CURA) (“Curaleaf” or the “Company”), a leading vertically integrated cannabis operator in the United States, today reported its unaudited financial and operating results for the third quarter and nine months ended September 30, 2018.

Boasting the largest retail dispensary footprint under a single, unified brand, with now 33 locations across 10 states, Curaleaf has established itself as a leader in the burgeoning U.S. cannabis industry. The expansion of our retail footprint was one of several key factors that drove significant year-over-year quarterly revenue growth of 289%, a majority of which was attributable to organic growth.

Joe Lusardi, Chief Executive Officer of Curaleaf
With the closing of our US$400 million private placement and going-public transaction in October, we strengthened both our balance sheet and ability to accelerate our growth objectives in 2019.

“With a strengthened balance sheet, we are actively seeking accretive acquisitions in several major markets across the United States, including Maryland, Massachusetts, Nevada, Florida, Arizona and Connecticut. We are confident that strong organic growth, combined with a sound M&A strategy, will allow Curaleaf to establish the first national cannabis retail dispensary brand in the United States.”

Financial Highlights for the Third Quarter Ended September 30, 2018

Total revenue was $21.4 million, an increase of 289%, compared to $5.5 million in Q3 2017.
Total revenue increased 47% sequentially, compared to $14.6 million in Q2 2018.
On a pro-forma basis, consolidated for non-profit entities, revenue for the third quarter was $25.0 million.
Gross profit excluding the impact of biological assets was $13.8 million, an increase of 360%, compared to $3.0 million in Q3 2017.
Gross profit margin, excluding the impact of biological assets was 64%, compared to 55% in Q3 2017.
Adjusted EBITDA¹ loss was $5.5 million, compared to a loss of $0.2 million in Q3 2017.
Net loss was $33.7 million for the 2018 third quarter, including a $25 million one-time, non-cash, accounting entry as part of the RTO transaction and investments in new store openings and facilities.

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