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Be the first with the news that moves the market- Columbia Care Inc (NEO:CCHW) reported C$33.7 million in fourth quarter revenue in Q4 2019, up 123 percent year on year.
- Columbia Care posted a yearly revenue of $108.5 million, an increase of 100 per cent year on year
- The company is on track to close the acquisition of The Green Solution, a Colorado based cannabis company with a yearly revenue of $212.7 million, in Q2 2020
- Columbia Care is one of the world’s largest cannabis producers.
- Columbia Care Inc (CCHW) is down 4.76 per cent, with shares currently trading at $3.00 and a market cap of $669 million
Coloumbia Care Inc (NEO:CCHW) today announced earnings growth of 100 per cent in 2019 and Q4 revenue growth of 123 per cent.
One of the world’s largest integrated medicinal cannabis operators, the company has posted triple figure growth for the last three quarters.
Nicholas Vita, CEO of Columbia Care said that 2019 had been a historic year for the company.
“We are now active in 14 U.S jurisdictions with 35 dispensaries in operation and six more awaiting regularity approval to open.
“We successfully launched adult use sales in Illinois and Massachusetts markets where we experienced three to five times revenue growth almost overnight.
“The timing could not be better to create shareholder value and build the best company in the industry,” he said.
The company has had both impressive revenue growth and impressive market share growth, as the company has doubled the number of markets it operates in since April last year.
This aggressive growth is evidenced by the company opening more dispensaries last year than they did in the previous 7 years combined.
The company has also facing significantly higher consumer demand for their products at existing dispensaries.
Gross profit growth has soared to C$28.4 million last year, up 25 per cent.
This is due to an increase in production on the back of facilities that are now operating at a commercial scale, and an
The company had a respectable $65.4 million in cash and does not have any debt.
Columbia has also recently expanded into the European market at the start of this year, and their internal expectation is the break-neck rate of growth is only going to get faster.
Columbia Care Inc (CCHW) is down 4.76 per cent, with shares currently trading for $3.00.
