Connect with us


Harvest Health & Recreation Inc. (OTCMKTS: HRVSF) Reports an Increased Revenue from $55.7 Million in Q2 2020 to $102.5 million in Q2 2021 Financial Results



When Steve White stepped out of his law practice in 2013, he endeavored to help improve people’s lives through the goodness of medical marijuana. However, he did not know he would end up with a vertically integrated cannabis company and multi-state operator in the U.S. Harvest Health & Recreation Inc. (OTCMKTS: HRVSF)

The company’s Q2 2021 financial and operating results are out. And the company is proud of an 84 % increase in total revenue, resulting in $102.5 million compared to $55.7 million in Q2 of 2020. In addition, the gross profit was at $52.3 million, compared to $23.4 million in Q2 2021. 

The Acceleration of Growth and Expansion Strategies

Today, Harvest is a force to reckon with various helpful resources for patients and consumers alike. It has given people control over their health and wellness. Other business highlights in its Q2 2021 operations included stamping its footprint in Florida with four new medical, retail dispensaries. It also arrived at an amicable settlement regarding the grower/processor permittee AGRiMED Industries of PA, LLC.

The company’s full-year 2021 revenue target is at least $400 million. White says they are thrilled and that”…Q2 results demonstrate continued momentum as Harvest builds scale and expands in its core markets…we are focused on our key operational and financial priorities in 2021 as we work toward closing the pending acquisition by Trulieve.”

The Closure Of a Sale-Leaseback Transaction With Innovative Industrial Properties

In other news, Harvest has obtained a long-term lease agreement with Innovative Industrial Properties (IIP) in addition to a $16.6 million sale of a property in Hancock, Maryland. The company intends to run it as a processing and a licensed cultivation facility and recover up to around $12.9 Million in tenant improvements. This will bring the total proceeds from the transaction to approximately $29.5 Million. 

It is worth noting that Maryland is one of the primary markets demonstrating potential growth. Hence, Harvest’s expansion of its operations to this location will not be in vain. 

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.


Business19 hours ago

The Green Organic Dutchman Holdings (OTC: TGODF) Releases an Update on its Canadian Securities Exchange Listing

Post Views: 4 The Green Organic Dutchman Holdings (OTC: TGODF) is a top producer of organically-grown, premium certified marijuana, and it...

Business19 hours ago

Next Green Wave Holdings Inc (OTCMKTS: NXGWF) Announces the Resignation of One of Its Directors

Post Views: 53 Next Green Wave Holdings Inc (OTCMKTS: NXGWF) recently announced that a Director had resigned from this position. The...

Business20 hours ago

AFC Gamma Inc (NASDAQ: AFCG) Increases Quarterly Dividend by 13.2% per Share, and the Group Expands its Senior Secured Credit Facility with Devi Holdings, Inc. by $30 Million

Post Views: 26 AFC Gamma Inc (NASDAQ: AFCG) recently announced a dividend for the quarter ending September 30, 2021. The...

Business20 hours ago

TerrAscend Corp (OTCMKTS: TRSSF) Acquisition of Gage Cannabis Receives Pre-Qualification Approval

Post Views: 53 TerrAscend Corp (OTCMKTS: TRSSF) is a leading cannabis operator based in North America that recently announced it had...

Business2 days ago

Jushi Holdings Inc (OTCMKTS: JUSHF) Opens 15th Store in Pennsylvania, Acquires Nature’s Remedy, and Announced Launch of Flower Brands

Post Views: 2 Jushi Holdings Inc (OTCMKTS: JUSHF), through its subsidiary, Franklin Bioscience – SE LLC. BEYOND / HELLO™ Colwyn...

Business2 days ago

FinCanna Capital Corp (OTCMKTS: FNNZF) Set to launch its “Big Fish” Cannabis-Based Edibles Brand

Post Views: 3 FinCanna Capital Corp (OTCMKTS: FNNZF) is an investment corporation for the United States licensed cannabis market that recently...