Curaleaf Q1 Revenue Comes In At $75.1M

Cannabis operator Curaleaf Holdings, Inc. CURACURLF reported first quarter revenue of $75.1 million, a year-to-year increase of 260 percent.

Curaleaf opened seven new dispensaries in key markets such as Florida, Maryland and New York, building on existing licenses and prior acquisitions.

Curaleaf recently acquired Select, a cannabis wholesale brand; It completed the acquisition of exclusive rights to operate Absolute Healthcare's Emerald dispensary in Arizona; And the company also completed the acquisition of Eureka Investment Partners in California.

"We reported strong organic growth, anchored by our core East Coast markets, and announced several landmark transactions, including the acquisition of Select, that will position Curaleaf to lead the industry forward,” said CEO Joseph Lusardi in a press release.

“The combination of Curaleaf and Select will bring together the largest retailer and largest wholesaler, with the leading wellness and lifestyle brands in the United States, providing substantial opportunities to accelerate revenue growth, achieve significant cost savings and expand overall margins."

Curaleaf's stock traded at $8.25 per share at time of publication.

Related Links:

Curaleaf To Buy 'Select' Brand Owner Cura Partners In $948M Deal

Curaleaf Signs Agreement To Acquire Eureka Investment Partners