AmeriCann Achieves All-Time Record Quarterly And Monthly Revenues, Here Are The Details

AmeriCann Inc. ACAN provided financial and operational updates for its Massachusetts cannabis cultivation, product manufacturing and distribution campus, revealing year-over-year quarterly revenue, increased over 36% for the quarter ended June 2022 relative to the quarter ended June 2021, an increase of $213,902 and monthly revenue for June 2022 increased 30% from June 2021.

“We’re pleased with achieving record revenue for the quarter and with the strong top-line growth rate,” stated president Tim Keogh. “Our operating margins are very strong, and we look forward to reporting our full quarterly financial results in August of 2022.”

The increase in financial performance is attributable to greater revenue received from products produced and manufactured at Building 1, the company's initial building at its Massachusetts Cannabis Center development in Freetown, Massachusetts.

Building 1 is a 30,000-square-foot cultivation greenhouse and processing facility that utilizes AmeriCann’s proprietary “Cannopy” cultivation system. Building 1 is fully occupied by Bask Inc., an existing Massachusetts licensed vertically integrated cannabis operator.

AmeriCann receives base rent and a revenue participation fee of 15% of all gross monthly sales of cannabis, cannabis-infused products and non-cannabis products produced at the Massachusetts Cannabis Center.

The manufacturing of cannabis-infused products, including the 1906 branded “Drops,” Howl’s Tincture, and Harpoon Extracts, has increased dramatically at the Massachusetts Cannabis Center. Sales of manufactured infused products are expected to be even stronger as continual increases in production and sales for 1906 “Drops” are realized.

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