Acreage Q4 2023 rev $52.8M (-8% YoY), net loss $35.7M, Adj EBITDA $4.3M

Acreage Holdings, Inc.

2024-Q1 EPS reported -$0.24 revenue$45,301,000

Q4 2023 consolidated revenue $52.8M vs $57.5M YoY (-8.2%); gross margin 32% (33% adjusted for inventory).
Net loss attributable to Acreage $30.7M; operating expenses cut 72% YoY to $41.4M.
Adjusted EBITDA $4.3M (8% margin) for 12th straight positive quarter; FY 2023 Adj EBITDA $28.3M.
Entered NY adult-use wholesale with The Botanist; expanded NJ Egg Harbor facility (doubled plant productivity).
Canopy USA reorganization approved by shareholders on Apr 12, 2024, advancing planned acquisition of Acreage.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Acreage Holdings, Inc. reported full year ended December 31, 2023 results: revenue $223.4 million.

Period: full year ended December 31, 2023
Revenue: $223.4 million
Result: reported results

Exact text from the filing

Full year consolidated revenue of $223.4 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Acreage Holdings, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $52.8 million, net income $35.7 million.

Period: the fourth quarter ended December 31, 2023
Revenue: $52.8 million
Net income: $35.7 million
Result: reported results

Exact text from the filing

its financial results for the fourth quarter (“Q4 2023”) and full year ended December 31, 2023 (“FY 2023”). Fourth Quarter 2023 Financial Highlights • Consolidated revenue of $52.8 million. • Gross margin was 32%. Excluding the impact of non-cash inventory adjustments, Q4 2023 adjusted gross margin was 33%. • Net loss for Q4 2023 was $35.7 million. • Adjusted

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Source: SEC EDGAR

accession 0001762359-24-000028

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