Acreage reports improved cannabis revenue, net loss for quarter

It’s the FINAL COUNTDOWN on MJBizCon savings. Get your tickets by Thursday Sept. 28 for the 12th annual cannabis business conference, Nov. 29-Dec. 1 in Las Vegas.


Acreage Holdings, a New York-based multistate marijuana operator, on Tuesday reported net quarterly revenue of $17.7 million for the three months ended June 30, up more than five times from the same period last year.

Net loss totaled $33.9 million for the company, which is due to be acquired by Canadian cannabis giant Canopy Growth for roughly $3.4 billion when marijuana becomes federally legal in the United States.

That compares with net income of almost $6 million in the same period last year.

Acreage is listed on the Canadian Securities Exchange under the ticker symbol ACRG.

Shares rose over 9% in trading after the results release.

More details on the quarterly results can be found here.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.