Cresco Labs Announces Second Quarter 2021 Financial Results investingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investingnews.com Daily Mail and Mail on Sunday newspapers.
Cresco Labs Announces First Quarter 2021 Financial Results Under U.S. GAAP
Company reports record revenue of $178 million and expects to reach annualized revenue run-rate of more than $1 billion by the end of 2021 Cresco Labs Inc. a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced its financial results for the first quarter ended March 31, 2021. All financial information presented in this release is in U.S. GAAP and … Company reports record revenue of $178 million and expects to reach annualized revenue run-rate of more than $1 billion by the end of 2021 Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“
Vertically integrated cannabis company
Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) reported a 9.9% quarter-over-quarter and 168.8% year-over-year revenue growth amounting to $178 million in the first quarter of 2021.
The Chicago-based company achieved record wholesale and retail revenue over the same period, totaling $95.6 million and $82.8 million, respectively. In Q1, we delivered sequential growth from existing assets, demonstrated our ability to reach and sustain #1 market share positions in two of this industry s top-five states, and we re gearing up to repeat that success in more markets this year, Charles Bachtell, co-founder and CEO of Cresco Labs, said Thursday.
Here s a breakdown of what the first-quarter earnings report showed: