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Curaleaf Holdings Inc (OTCMKTS: CURLF) is one of the world’s leading consumer cannabis companies that recently reported second quarter F21 revenue of $ 312 million. The company provided all of this information in US dollars.
Total Q2 F21 revenue was $ 312 million, a 166% year-over-year increase from $ 117 million reported in the same quarter last year. . Excluding international business operations, total revenue was $ 307 million. In the second quarter of this fiscal year, the company opened a total of five new cannabis and CBD dispensaries. This included a second location in New Jersey, one in Illinois, two in Pennsylvania, and an adult retail store in Maine (the first of its kind), bringing the company’s total to 107 dispensaries in the end of the quarter.
The company’s recorded retail revenue was $ 222 million, representing a 235% year-over-year growth and sequential growth of 18.4%. The robust growth of the Company’s retail business operations has been primarily driven by the increase in the number of clients / repeat customers and the acquisition of new clients. Retail sales accounted for 71% of the company’s total sales.
Wholesale trade revenues were $ 89 million, or 29% of all its revenues. The strong growth in wholesale activities is mainly attributable to increased sales productivity and the addition of new accounts. Gross profit recorded in this quarter was $ 155 million, which is significantly more than the $ 43 million recorded in the same quarter last year.
The senior management
CurAleaf Executive Chairman Boris Jordan said that in July the United States introduced the most comprehensive cannabis reform ever proposed by the federal government. Combined with the significant investments the company is making in distribution, cultivation and production and release at the U.S. state level, the CEO said they are developing a solid foundation for future growth. He claimed that this includes expanding their Connecticut, New Jersey and New York markets in the near term.