Columbia Care Q2 Revenue Grows 18.1% YoY, How About Adjusted EBITDA?

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Columbia Care Inc. CCHWF CCHW CCHW 3LP released financial results for the second quarter ended June 30, 2022, revealing revent of $129.6 million, an increase of 18.1% compared to $109.7 million in Q2 2021.

Q2 2022 Financial Highlights

  • Gross profit has been $50.8 millionan increase of 17.3% from $43.3 million in Q2 2021 and a decrease of 10.2% from Q1 2022.

  • Adjusted EBITDA has been $12 milliona decrease of 26.8% compared to adjusted EBITDA of $16.4 million in Q2 2021.

Nicholas VitaCEO of Columbia Care, said, “For the remainder of 2022, Columbia Care will execute against our strategic priorities while taking the necessary steps to complete the merger with Cresco on time. The integration planning process generated tremendous enthusiasm and momentum. As the founder of Columbia Care, seeing our organizations work together so well has been humbling and deeply rewarding. Our shared vision has enabled both organizations to focus on the range of opportunities available to us and approach the future with clarity, drive and capabilities that will generate outsized shareholder value for years to come. The embedded growth and sustainable margin opportunity unlocked by this combination will be a game-changer. »

Outlook 2022

Anticipating business and financial reporting impacts and asset disposal adjustments necessary for the Cresco transaction, ongoing economic headwinds and assuming no material improvements in Colorado or California, Columbia Care expects continued sequential growth of mid-single-digit revenue in each of the next two quarters. In addition, the company expects sequential improvements in market-level EBITDA margin in the range of 150 to 250 basis points per quarter compared to its year-to-date results.

picture by Esteban Lopez on Unsplash

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