Columbia Care, a New-York based vertically integrated cannabis operator, reported revenue of $12.9 million for the first quarter ended March 31, 2019, up 45% from the same period last year thanks to “organic growth” and stronger consumer demand for its products.
The net loss for the quarter widened to $25.1 million compared with a $9.7 million shortfall for the same period last year, reflecting the company’s investment in expanding in both new and existing markets.
Columbia Care reported full-year 2018 revenue of $39.3 million, up 35% from 2017 revenue of $29.2 million. The net loss for 2018 was $39.7 million compared with net income of $2.9 million in 2017.
The company started trading on Canada’s NEO Exchange last month under the ticker symbol CCHW.
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