Curaleaf Posts 22% Revenue Gain in Q4, Announces Acquisition

Curaleaf (OTC: CURLF) had a busy day on Tuesday. After market hours, the marijuana company unveiled its fourth quarter of fiscal 2019 results, while earlier it announced an acquisition and updated investors on its business in the wake of the SARS-CoV-2 coronavirus outbreak.

For the quarter, the company's total revenue came in at nearly $75.5 million. That was 22% higher on a quarter-over-quarter basis, and more than double the fourth quarter 2018 result. Net loss deepened, however, to almost $26.6 million, from the third quarter shortfall of $6.8 million and the year-ago loss of $11.2 million.

Curaleaf's latest net loss shook out to $0.06 per share; according to data compiled by The Wall Street Journal, on average analysts were expecting only a $0.02 per share deficit.

Source Fool.com