Here are some of this week's highlights for Focus List names:
AAWH announced an agreement to acquire Ohio Patient Access, boosting the ability of the company to move from 2 to 5 Ohio medical cannabis dispensaries. The company reported a solid Q2, with net revenue jumping 15% sequentially to $97.5 million. Adjusted EBITDA was $20.9 million. It also announced it is no longer buying MedMen NY. The company also began adult-use sales at its New Jersey dispensary in Montclair.
AYRWF introduced LEVIA water soluble tinctures in Nevada and Arizona. The company reported a soft Q2 and reduced the outlook. Revenue was $110.1 million, and adjusted EBITDA was $19.6 million.
CCHWF reported Q2 revenue a bit below expectations at $129.6 million, with adjusted EBITDA of $12 million, also below expectations. The company expects its acquisition by Cresco Labs to close by year-end.
CGC announced that Martha Stewart CBD has launched a new flavor of its gummies portfolio, Pumpkin Spice.
CRLBF reported a solid Q2, with revenue increasing 2% sequentially to $218.2 million. Its adjusted EBITDA was $51 million, 23% of revenue.
GNLN was under expectations with $39.9 million revenue in Q2, and this was a 14% sequential decline. Adjusted EBITDA was -$5.8 million. The company will raise additional capital, selling its real estate in Boca Raton in September for $10 million.
PLNHF reported $28.4 million in revenue in Q2, up almost 11% sequentially. Adjusted EBITDA was $3 million.
TCNNF opened a dispensary in Auburndale, Florida.
TLLTF reported 11% sequential revenue growth in Q2 to $47.1 million. Adjusted EBITDA was $1.1 million.
TLRY earned authorization to commercialize its medical cannabis products in Poland.
TRSSF is opening a Cookies Corners in its Lodi, NJ store.
UGRO had a disappointing quarter, with revenue falling below expectations at $16.3 million and adjusted EBITDA at -$529K. Guidance for Q3 was reduced to revenue of $10-11 million and adjusted EBITDA about -$2.5 million.
VFF extended the relationship with Pure Sunfarms and Simon Fraser University for cannabis research.
VRNOF has introduced its brand Savvy, flower and extract, in seven core markets it serves. Its Q2 was a miss on profitability, with revenue of $224 million up 11% but adjusted EBITDA of $48 million, just 22% of revenue. The company also announced a distribution agreement with Tyson 2.0 for Ric Flair Drip Cannabis. It opened its 56th Florida medical cannabis dispensary in Hollywood and its 4th West Virginia dispensary in Clarksburg.
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