Debt Restructuring Completion
Completed a debt restructuring transaction, extending the maturity of $271 million of senior debt obligations until at least December 2028.
Successful Launch in Delaware
Successfully launched adult-use sales in all three retail locations in Delaware on August 1.
Revenue Growth in Key Markets
New Jersey and Colorado achieved the biggest sequential revenue growth. Maryland, New Jersey, and Ohio saw the largest increases in adjusted EBITDA sequentially.
Positive Adjusted EBITDA Margin
Achieved a 30 basis point improvement in adjusted EBITDA margin to 9.8% in the second quarter.
Growth in Cannabis Brands
Cannabis portfolio of brands saw revenue growth of 17% sequentially in New Jersey, with Seed & Strain leading, followed by Triple Seven.