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.
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