Vireo Health International, the Minneapolis-based, vertically integrated marijuana firm, reported revenue of $5.6 million for the fourth quarter of 2018, up 72% from the same period the prior year.
Net loss for the quarter totaled $1.2 million versus profit of just over $293,000 in the same period 2017.
The net loss was attributable in part to transactions and new-market costs related to expansion of the company’s footprint.
Vireo is licensed to operate in 10 states.
Full-year net loss for 2018 was $3.1 million on revenue of $18.5 million, compared with a net loss of $431,000 on revenue of $10.9 million in 2017.
Vireo trades on the Canadian Securities Exchange under the ticker symbol VREO.
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