HRVSF - Harvest Keeps $400 Million Guidance For 2021

Harvest Health & Recreation Inc. ( CSE: HRVSF) reported its financial and operating results for the second quarter 2021. The company delivered total revenue in the second quarter was $102.5 million , an increase of 84% from $55.7 million in the second quarter of 2020, and up 15% compared to $88.8 million in the first quarter of 2021.

The net loss before non-controlling interest was trimmed to $19.2 million for the second quarter, compared to $23.0 million in the first quarter of 2021.

“Our second quarter results demonstrate continued momentum as Harvest builds scale and expands in its core markets” said Chief Executive Officer Steve White . “We are focused on our key operational and financial priorities in 2021 as we work toward closing the pending acquisition by Trulieve.”

Harvest said it was keeping its full year 2021 revenue target of at least $400 million . Reported gross margins are expected to be at or above 50% and will likely continue to fluctuate from quarter to quarter.