ACRHF - New York-Based Marijuana Company Acreage Sees YoY Revenue Decline But Also Lower Net Loss | Benzinga
Multi-state cannabis operator, Acreage Holdings, Inc. (CSE:ACRG) (OTCQX:ACRHF), reported its financial results Monday for the fourth quarter and full year ended December 31, 2023. The earnings report revealed quarterly revenue of $52.8 million, compared to $57.5 million in the same period of the prior year, while yearly revenue reached $223.4 million, versus $237.1 million in the full year 2022.
"Throughout 2023, we completed various strategic initiatives that have positioned us strongly ahead of our acquisition by Canopy USA," stated Dennis Curran, chief executive officer of Acreage. "During the quarter, we completed the anticipated expansion of our Egg Harbor, New Jersey facility, bolstering these operations with more canopy and manufacturing equipment to increase the output of in-demand, high-margin products such as edibles and concentrates. We also upgraded our cultivation capabilities in ...