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Cresco Labs swings to a loss on $261 million non-cash charge

Published Nov 11 2021 at 12:46 PM GMT
Key
Points
  • Cresco Labs Inc said Thursday it lost $263.45 million in the third quarter after reporting net income of $25.
  • The cannabis company did not provide results on a per share basis.
  • The quarter included a non-cash impairment charge of $291 million related to a strategic shift in its California operations.
  • Revenue rose to $215.5 million from $153.
  • 3 million in the year-ago quarter, and ahead of the $210 million revenue figure in the second quarter.




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  • Published Nov 11, 2021 12:46 PM GMT