CRLBF - Marijuana Stock Cresco Labs' Revenue Soars 253%
As one of the largest dispensary operators in the U.S., Cresco Labs (OTC: CRLBF) is capitalizing on the cannabis boom.
Cresco's revenue surged 253% year over year to $29.9 million in the second quarter, fueled by solid sales growth in its existing operations and expansion into new markets.
"We delivered an outstanding quarter that reflects the leading positions we have established in some of the most attractive markets in the cannabis industry," co-founder and CEO Charles Bachtell said in a press release. "We are seeing accelerating revenue growth driven primarily by market share gains and strong trends in registered patients in our established markets of Illinois and Pennsylvania, as well as our expanded presence and distribution in California."