Increase In Cannabis Net Sales For Cresco Labs in 2021

Cresco Labs Inc. announced its financial results for the three and twelve months ended December 31, 2021. The company reported strong revenue growth with total cannabis net sales reaching $118.9 million for the year, up from $33.8 million in 2020. This represented a 281% increase in cannabis net sales. Adjusted EBITDA was negative $3.5 million for the year, compared to a positive $7.5 million in 2020. The company attributed this to increased investments in infrastructure and product development as it prepares to scale production and enter new markets. For the fourth quarter, Cresco Labs reported cannabis net sales of $32.6 million.

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