Sector: Healthcare | Industry: Pharmaceuticals |
Company Contact | |
Address: | 366 MADISON AVENUE, 14TH FLOOR NEW YORK NY 10017 |
Tel: | N/A |
Website: | https://investors.acreageholdings.com/overview/default.aspx |
IR: | See website |
Key People | ||
Dennis Curran Chairman of the Board, Chief Executive Officer, Executive Director | Philip Himmelstein Interim Chief Financial Officer | Corey Sheahan Executive Vice President, Company Secretary, Director |
Business Overview |
Acreage Holdings, Inc. is a vertically integrated, multi-state operator in the United States cannabis industry. The Company also has contractual relationships with cannabis cultivation facilities, dispensaries, and other cannabis-related companies in the United States. Its 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 brand, The Botanist, for adult-use sales in New Jersey. It has also launched Botanist Vape Cartridges and Disposables in Illinois, as well as Superflux Cured Concentrates. It owns and operates nine cultivation and processing facilities, one each in California, Illinois, Maine, New Jersey, New York, Ohio, and Pennsylvania, respectively, and two in Massachusetts. Its subsidiary, Universal Hemp, LLC, distributes, markets, and sells cannabidiol products. |
Financial Overview |
For the nine months ended 30 September 2023, Acreage Holdings Inc revenues decreased 5% to $170.6M. Net loss decreased 14% to $38.4M. Revenues reflect Retail revenues, net decrease of 4% to $130.7M, Wholesale revenue, net decrease of 6% to $39.8M, Other revenue, net decrease of 90% to $84K. Lower net loss reflects Equity-based compensation expense decrease of 73% to $2.4M (expense), Other loss, net increase of 96% to $9.8M (income). |
Employees: | 1,016 as of Dec 31, 2022 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $226.92M as of Sep 30, 2023 |
Annual revenue (TTM): | $228.07M as of Sep 30, 2023 |
EBITDA (TTM): | -$6.77M as of Sep 30, 2023 |
Net annual income (TTM): | -$133.41M as of Sep 30, 2023 |
Free cash flow (TTM): | -$49.62M as of Sep 30, 2023 |
Net Debt Last Fiscal Year: | $219.60M as of Sep 30, 2023 |
Shares outstanding: | 228,906,714 as of Nov 2, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |