Curaleaf: Not Derailed By Virus Outbreak

  • The Massachusetts company reported pro-forma revenues of $131.7 million with reported revenues growing 22% sequentially to $75.5 million.
  • Despite these strong numbers, the stock trades near the lows due to the pro-forma revenues only growing from $129.0 million in the prior quarter.
  • Reported managed revenues jumped $8.5 million from the prior quarter leaving the unreported revenues declining to $50.0 million from $55.8 million.
  • The numbers suggest Select isn’t producing much more than $5 million in monthly revenues assuming Curaleaf managed revenues hit $90 million in Q1 without Select.
  • The Grassroots deal adds another 102.8 million shares bringing the total to ~616.7 million shares outstanding for the pro-forma results.

Read full article: seekingalpha.com