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
On Aug. 17, Curaleaf released its second-quarter results for the period ending June 30. Its total revenue was $117.5 million, which grew at an impressive rate of 142% year-over-year. However, that number does not include some of the company's sales from recent acquisitions. On July 23, Curaleaf closed on its acquisition of cannabis company Grassroots, which gave the Massachusetts-based producer a presence in 23 states, making it the largest multi-state operator in the country. The cash-and-stock deal was worth approximately $700 million. When Curaleaf reported its first-quarter results on May 18, it was operational in only 17 states. Curaleaf also closed on another acquisition on April 6, through which it obtained three Arrow Alternative Care dispensaries in Connecticut.