Ample growth opportunities in the U.S.
In its second quarter, Curaleaf opened five new stores in Illinois, Pennsylvania, New Jersey, and Maine. This brings its total to 107 stores nationwide. Peers Trulieve and Green Thumb have 100 and 65 stores nationwide, respectively.
It’s important when looking at the numbers to understand that some of the growth is from acquisitions. Additionally, some of the companies were negatively impacted by closures in Massachusetts and Nevada during the quarter. Finally, any given quarter can be impacted by new dispensary openings or especially additional production capacity leading to more product availability. Some of the companies share “same-store sales” information, which helps to better understand the growth dynamics. GTI, for instance, saw 75% same-store sales growth from a year ago and 8% sequentially.
Multi-state operator Curaleaf Holdings (OTC:CURL.F) is so bullish on its future that it expects to reach $1 billion in sales as early as next year. Let's take a closer look at where the company is today and if it's poised to be the first cannabis company to hit that mark.
Reaching $1 billion in sales isn't unrealistic for Curaleaf
Despite a lot of fears, Curaleaf (OTCPK:CURLF) has generally done what the Canadian cannabis giants couldn't do. The U.S. multi-state operator (MSO) has turned acquisitions into a market-leading position and a large EBITDA profit while the others have faltered. My bullish investment thesis remains intact as the MSO is poised to become the first cannabis company to top $200 million in quarterly sales with plenty of runway ahead.
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