Video Staff
We are still in the thick of earnings season and with so many companies delivering their numbers this week, we can only hit the notable ones here.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced that its third-quarter revenue increased 64% year-over-year to $224.1 million, beating estimates by $2 million.
TPCO Holding Corp. also known as The Parent Company (NEO: GRAM.U) (OTCQX: GRAMF) announced its financial numbers for the third quarter with an eye-popping charge of $570 million. The Parent Company’s revenue for the quarter was $39.7 million.
Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its results for the third quarter with revenues of $207 million, which increased over the second quarter’s revenue of $199 million.
TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF) reaffirmed guidance of $205-$210 Million For 2021 and reported its revenue increasing 37% to $53.4 million driven by growth in both cannabis and inhalation and accessory revenue.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) reported that its third quarter revenues dropped by 16% sequentially to $49.1 million from the second quarter’s $58.7 million. However, it was better than 2020’s third-quarter revenue of $38.1 million.
Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) announced its financial results with total revenue rising 13.1 sequentially to $54.0 million, and an increase of 116.7% over last year.
4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) announced its total revenues were $25.9 million, topping last year’s $12 million for the same time period for a gain of 70%. However, the company experienced a 4% sequential drop in sales from the second quarter.
SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) announced the departure of several top executives and a new financing deal with Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF). The company’s CEO Chris Driessen resigned and the board chair Peter Miller stepped aside. Several other board members left as the company git $17 million in financing from Trulieve.
It looks as if the MedMen Enterprises Inc. (OTC: MMNFF) trial is coming to a close. According to Law360, the lawyers for the company’s former Chief Financial Officer James Parker attorney gave his closing arguments on Tuesday. Parker claims he is owed up to $24.89 million due to his employment contract, while MedMen believes the contract isn’t enforceable because Parker negotiated it himself.
And finally this week, Republican lawmakers filed a bill today that would federally legalize and tax cannabis, the States Reform Act. Rep. Nancy Mae (R-SC) is sponsoring the bill which lowers the tax level from the Schumer legislation, which hasn’t been filed but also excludes any social equity component.
