Acreage Q1 Revenue Declines 1.6% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
Acreage Holdings reported Q1 2023 revenue of $56.0 million, a 1.6% YoY decrease, and adjusted EBITDA of $10.6 million. The decline in revenue was due to industry headwinds, competitive pressures, and the divestiture of Oregon operations, partially offset by a Maine dispensary acquisition in 2022.
May 23, 2023 | 11:52 am
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NEGATIVE IMPACT
Acreage Holdings' Q1 2023 revenue declined 1.6% YoY, with adjusted EBITDA at $10.6 million. The decrease in revenue was due to industry headwinds and competitive pressures.
The decline in revenue and the challenging industry environment may negatively impact Acreage Holdings' stock price in the short term. The company's ability to maintain strong margins and deliver positive adjusted EBITDA despite these challenges may partially offset the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Acreage Holdings' Q1 2023 revenue declined 1.6% YoY, with adjusted EBITDA at $10.6 million. The decrease in revenue was due to industry headwinds and competitive pressures.
The decline in revenue and the challenging industry environment may negatively impact Acreage Holdings' stock price in the short term. The company's ability to maintain strong margins and deliver positive adjusted EBITDA despite these challenges may partially offset the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Acreage Holdings received shareholder approval for its strategic arrangement with Canopy Growth, bringing the companies closer to closing the transaction.
The shareholder approval for the strategic arrangement between Acreage Holdings and Canopy Growth is a positive development for Canopy Growth. This may have a positive impact on Canopy Growth's stock price in the short term as it expands the company's footprint and potential for growth.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50