Acreage Holdings Q2 Revenue Drops, Invests In Ohio Growth As Canopy Acquisition Nears
Acreage Holdings Q2 Revenue Drops, Invests In Ohio Growth As Canopy Acquisition Nears
Acreage Holdings, Inc. (OTC:ACRHF), a multi-state operator of cannabis cultivation and retailing facilities, announced its Q2 2024 earnings on Wednesday, revealing a mixed financial landscape marked by strategic expansions yet shadowed by a significant net loss and a revenue dip, down 33% year-over-year.
大麻股种植和零售设施的跨州经营者Acreage Holdings, Inc.(OTC:ACRHF)周三发布了2024年第二季度的财报,揭示了一份战略扩张却又被显著的净亏损和营收下滑所笼罩的复杂财务景象。
Q2 2024 Financial Highlights
2024年第二季度财务业绩亮点
- Consolidated revenue of $39 million, compared to the $58 million in Q2 2023.
- Net loss was $24.1 million, increasing from the $18.2 million of the same quarter last year.
- Adjusted EBITDA was a gain of $1.9 million, down from the $6.8 million reported in the second quarter of 2023.
- Gross profit was $16.9 million, a slight decrease compared to the $21.1 million in Q2 2023.
- 2024年第二季度,综合营收为3900万美元,较2023年第二季度的5800万美元下降。
- 净亏损为2410万美元,较去年同期的1820万美元增加。
- 调整后的EBITDA为190万美元盈利,较2023年第二季度报告的680万美元下降。
- 毛利润为1690万美元,与2023年第二季度的2110万美元相比略有下降。
Revenue Decline Linked To Liquidity Constraints
营收下降与流动性限制有关。
The company attributed the revenue decline primarily to liquidity constraints that affected inventory levels and sales. Despite these challenges, Acreage highlighted strategic growth initiatives and a robust restructuring plan poised to steer future profitability.
该公司将营收下降归因于主要影响库存水平和销售的流动性限制。尽管面临这些挑战,Acreage还强调了战略增长举措和一个强大的重组计划,旨在引领未来的盈利能力。
Acreage also experienced a gross margin improvement to 43% compared to 36% in the same period last year. However, constrained by credit issues and cash preservation needs, the company reported a stark decrease in adjusted EBITDA to $1.9 million, a significant drop from $6.8 million in Q2 2023.
Acreage的毛利率也有所提高,从去年同期的36%上升至43%。然而,受信用问题和需求现金保留的影响,该公司报告了调整后的EBITDA骤降至190万美元,较2023年第二季度的680万美元大幅下降。
Read Also: $75 For An Eighth Of An Ounce? Why Are New Jersey Cannabis Prices Still So High?
阅读更多:为什么新泽西的大麻价格仍然如此之高?一个八分之一盎司要75美元吗?
CEO Commentary
CEO评论
Dennis Curran, CEO of Acreage, acknowledged the financial hurdles. "While our results in the first half of 2024 were constrained by credit challenges and the need to preserve cash, we've now recapitalized our business and expect our commercial activities in key markets, as well opening of the non‐medical market in Ohio, to significantly accelerate revenue and Adjusted EBITDA for the remainder of the year."
Acreage首席执行官Dennis Curran承认了财务障碍。"虽然我们2024年上半年的结果受到信用挑战和需要保留现金的影响,但我们已经重新融资了我们的业务,并预计我们在主要市场的商业活动,以及俄亥俄州非医疗市场的开幕,将大幅加速营业收入和EBITDA调整后的盈利能力。"
Ohio Market Expansion And Growth In Key States
俄亥俄州市场扩张和关键州的增长
In addition, Acreage has been active in expanding its market reach, notably with legal recreational sales in Ohio where the cannabis market is estimated to hit $2.3 billion within a year. The move is expected to double the state's revenue by 2025 from approximately $50 million in 2023.
此外,Acreage一直在积极拓展市场,尤其是在俄亥俄州的合法休闲销售中,该州的大麻市场预计将在一年内达到2.3亿美元。该举措预计将在2025年将该州的营业收入从约5000万美元增加一倍。
Despite the challenging quarter, Acreage is gearing up for a reaccelerated growth trajectory in core states including New Jersey, Illinois and Connecticut, supported by a recapitalization strategy and new product launches aimed at revitalizing its market presence.
尽管这是一个具有挑战性的季度,Acreage正为加速核心州的增长轨迹做好准备,包括新泽西州、伊利诺伊州和康涅狄格州,支持资金重组战略和新产品发布,旨在恢复其市场存在感。
Acreage Integration With Canopy
Acreage与Canopy的整合
The quarter also saw Acreage advancing its acquisition by Canopy USA (NASDAQ:CGC), which is set to close in the first half of 2025. This acquisition is anticipated to further integrate Acreage into the broader Canopy ecosystem, enhancing collaborative opportunities and operational synergies.
这一季度还看到Acreage推进了其被Canopy USA(NASDAQ:CGC)收购的计划,该计划预计将在2025年上半年结束。此收购预计将进一步将Acreage整合到更广泛的Canopy生态系统中,增强合作机会和操作协同效益。
ACRHF Price Action
ACRHF's shares were trading 14.91% higher at $0.2197 per share at the time of this writing around 10:30 AM ET Thursday.
ACRHF股价涨跌
截至本文撰写时间,ACRHF股票以每股0.2197美元的价格上涨了14.91%,当日美国东部时间上午10:30左右。
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