“IMO, the growth we’re seeing right now in the industry is part of a longer-term trend, of more consumers entering the category. Incredibly optimistic about our future,” Joe Bayern, CEO of Curaleaf, tweeted.
The Wakefield, Massachusetts-based cannabis company, which is listed in Canada and trades over the counter in the U.S., had record revenue of $260 million for the first quarter, a growth of 170% year over year, according to a release.
“Curaleaf delivered record first quarter 2021 financial results with total revenue exceeding the high-end of our guidance range as we extended our U.S. leadership, all while creating a new foundation for future international growth opportunities,” Bayern said in the release. “With our revenue projected to increase to $305 million to $315 million in the second quarter, we also expect to generate significant improvements in terms of achieving positive net income and positive operating cash flows in the back half of 2021.”