Source: Harvest Health.
Summary
Harvest Health (HRVSF) is licking its wounds and rebuilding after a rough year. Last year, they were focused on a land grab mentality and suggesting up to $1 billion in 2020 pro forma revenue. Now, the company is focusing on its core markets, cutting costs, divesting non-core assets, and hoping for $200 million in 2020 revenue.
That revenue target is surprising given that analysts were expecting $234 million of revenue prior to Harvest's earnings call. Part of this shortfall is because Harvest has a deal to sell some California