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Columbia Care loss widens as revenue climbs

35749 columbia care loss widens as revenue climbs

Columbia Care Inc. CCHWF, -1.92% CCHW, -2.28% said Thursday its fourth-quarter net loss widened to $53.3 million, or 14 cents a share, from a loss of $43.3 million, or 16 cents a share in the year-ago quarter. The cannabis company’s revenue increased to $139.3 million from $76.1 million. Analysts expected Columbia Care to lose five cents a share on revenue of $138.3 million, according to FactSet data. Looking ahead, Columbia Care expects 2022 revenue of $625 million to $675 million, below the analyst target of $692.4 million. Shares of Columbia Care are up 7% so far in 2022, compared to a loss of 20.7% by the AdvisorShares Pure U.S. Cannabis ETF MSOS, -1.98%. Columbia Care on Wednesday announced it was being acquired by Cresco Labs Inc. CRLBF, -7.51% for $2 billion in stock.

Source: Marketwatch

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