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ACRDF Acreage

Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information. Acreage owns licenses to operate or has management or consulting services or other agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of $16.7 billion in legal cannabis sales, according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage's national retail store brand, The Botanist, debuted in 2018.

Company profile

Ticker
ACRDF, ACRHF
Exchange
Employees
Location
Fiscal year end
Sector
SEC CIK
Subsidiaries
1627 West Main, LLC • 22nd and Burn Inc. • Acreage California Holding Company, LLC • Acreage CCF New Jersey, LLC • Acreage Chicago 1, LLC • Acreage Compass, LLC • Acreage Compassionate Care Holdings • Acreage Compassionate Care OK, LLC • Acreage Connecticut, LLC • Acreage Desert Hot Springs, LLC ...

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 Nov 21
24 Jan 22
31 Dec 22
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Acreage earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 29.48M 29.48M 29.48M 29.48M 29.48M 29.48M
Cash burn (monthly) 2.78M 3.25M 2.83M 4.97M (positive/no burn) 3.48M
Cash used (since last report) 10.63M 12.41M 10.8M 18.98M n/a 13.3M
Cash remaining 18.85M 17.08M 18.69M 10.51M n/a 16.18M
Runway (months of cash) 6.8 5.3 6.6 2.1 n/a 4.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Dec 21 Kevin P Murphy Common Stock - Class D Subordinate Voting Shares Buy Acquire P No No 1.2944 10,000 12.94K 680,982
30 Dec 21 Kevin P Murphy Common Stock - Class E Subordinate Voting Shares Buy Acquire P No No 1.769 15,000 26.54K 1,207,687
23 Dec 21 Robert Daino Common Stock - Class D Subordinate Voting Shares Sell Dispose S No No 1.2671 743 941.46 422,777
23 Dec 21 Robert Daino Common Stock - Class E Subordinate Voting Shares Sell Dispose S No No 1.81 1,622 2.94K 1,031,245
23 Dec 21 James A Doherty III Common Stock - Class D Subordinate Voting Shares Sell Dispose S No No 1.2671 644 816.01 333,073
23 Dec 21 James A Doherty III Common Stock - Class E Subordinate Voting Shares Sell Dispose S No No 1.81 1,402 2.54K 821,894
1 Oct 21 Kevin P Murphy Common Stock - Class E Subordinate Voting Shares Buy Acquire P No No 2.256 16,000 36.1K 1,192,687
10 Sep 21 Lopez Patricia E Common Stock - Class E Subordinate Voting Shares Grant Acquire A No No 0 27,174 0 27,174
10 Sep 21 Lopez Patricia E Common Stock - Class D Subordinate Voting Shares Grant Acquire A No No 0 111,386 0 111,386

Financial report summary

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Management Discussion
  • During 2020, as part of an overall strategic plan to focus on key, profitable operations we decided to continue to develop operations in the following nine core states of Connecticut, Maine, Massachusetts, New Hampshire, New York, New Jersey, Pennsylvania, Illinois and Ohio. We expect this shift in focus to lead to margin improvements and accelerate our pathway to achieve positive returns.
  • •We began adult-use sales at our dispensary in Illinois; the significantly increased sales have exceeded internal expectations. We also received zoning approval to open a dispensary in Chicago.
  • •The Company closed a refinancing transaction and conversion related to Northeast Patients Group, operating as WCM, a medical cannabis business in Maine, resulting in ownership of WCM by three Maine residents, as required by Maine law. In connection with the transaction, WCM converted from a non-profit corporation to a for-profit corporation.
Content analysis
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H.S. sophomore Avg
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