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Trulieve beats out Curaleaf for top Q1 revenue spot for U.S. cannabis companies

Trulieve Cannabis Corp. edged past Curaleaf Holdings Inc. to be the top revenue generator among U.S. cannabis companies in the first quarter with $318.3 million in revenue, compared to Curaleaf's $313.1 million, according to an analysis by MJBiz released Wednesday. Green Thumb Industries Inc. generated $242.6 million in first-quarter revenue to win the No. 3 slot. Green Thumb was also the only multi-state cannabis operator to post a profit ($28.9 million) in the quarter. Cresco Labs Inc. is fourth with $214.4 million in revenue, followed by Verano Holdings Corp. with $202.2 million in revenue. Most of the top U.S. cannabis companies had lower revenue than the fourth quarter, but posted double-digit percentage gains over the first quarter of 2021. The AdvisorShares Pure US Cannabis ETF (MSOS) is down 46.4% so far in 2022.

-Steve Gelsi

 

(END) Dow Jones Newswires

06-02-22 0859ET

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