Acreage Holdings Reports Third Quarter 2020 Results

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF) today reported financial results for the third quarter of 2020.
” data-reactid=”12″>NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF) today reported financial results for the third quarter of 2020.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="THIRD QUARTER FINANCIAL HIGHLIGHTS (UNAUDITED)” data-reactid=”13″>THIRD QUARTER FINANCIAL HIGHLIGHTS (UNAUDITED)

  • Reported revenue was $31.7 million, a 42% increase compared to the same period in 2019, and a 17% increase compared to the second quarter of 2020. 
  • Partner revenue was $17.0 million, a 79% increase compared to the same period in 2019, and a 2% increase compared to the second quarter of 2020.
  • Company-owned same store sales growth was 36%, marking the seventh consecutive quarter of double-digit same store sales comparisons.
  • Same store sales growth for our managed entities was 22%.
  • Gross margin was 42.5%, an 80 basis point decrease compared to the same period in 2019, and a 110 basis point increase compared to the second quarter of 2020.  The year over year gross

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