Welcome to our dedicated page for Acreage Holding news (Ticker: ACRDF), a resource for investors and traders seeking the latest updates and insights on Acreage Holding stock.
Acreage Holdings, Inc. (ACRDF) is a vertically integrated multi-state cannabis operator with cultivation, processing, and retail operations across 11 U.S. states. This page serves as the definitive source for official company announcements, financial updates, and strategic developments in the evolving cannabis sector.
Investors and industry stakeholders will find timely updates on earnings reports, regulatory milestones, product launches, and partnership agreements. Our curated news collection provides insights into Acreage's operational footprint, including its The Botanist retail brand and compliance-focused cultivation practices.
Key content categories include quarterly financial disclosures, expansion announcements, leadership updates, and compliance achievements. Bookmark this page to monitor Acreage's progress in strengthening its market position through strategic alliances and operational excellence in regulated cannabis markets.
Acreage Holdings, a U.S.-based cannabis cultivation and retailing company, released its Q1 2024 financial results. The company reported a consolidated revenue of $45.3 million, a year-over-year drop of 19% from Q1 2023. Gross margin was -3%, impacted by non-cash inventory adjustments; without these, the adjusted gross margin was 31%. The net loss for the quarter was $33.3 million, with an adjusted EBITDA of $2.0 million, down 81% from Q1 2023. Key operational highlights include the company's entry into New York's adult-use wholesale market, the launch of adult-use sales in Connecticut, and record-breaking production in New Jersey. Despite these operational successes, Acreage faced competitive pricing pressures and increased costs due to inflation.
Acreage Holdings, Inc. reported positive Q4 2023 results with $52.8 million in revenue and $4.3 million in Adjusted EBITDA. The company reduced operating expenses by 72% YoY and expanded its product offerings in several states. Canopy USA reorganization was approved, marking progress towards acquisition. Acreage's CEO highlighted strategic initiatives and expansion into new markets.
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