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Top Cannabis Stock Pick for 2020, Curaleaf, Announces Record Revenues, Dispensary Acquisitions & Covid-19 Update

Our analysts continue to review Curaleaf and believe that this company is one of the best cannabis stock investing opportunities for 2020.

Should You Invest in Curaleaf Cannabis Stock?The time has never been better to invest in marijuana stocks as the market continues to experience massive selloffs from the COVID-19 virus. In fact, Curaleaf is currently trading at nearly half the price it commanded in January. Investments made at this time by new cannabis stock investors, or current ones, would likely see returns from a rise in the markets as they recover from being oversold. Cannabis companies at this time are not independent of the rest of the market as they have experienced a relative decrease in value from COVID-19. The investments in cannabis stock markets are often complicated with the number of different cannabis companies to choose from. New investors and ones experienced with cannabis stocks can utilize the work done by our analysts to determine stock investment opportunities.

See our comprehensive analysis of this marijuana stock here.

Curaleaf is a solid cannabis company that expects to have more than 70 retail cannabis dispensary locations open by this year’s end. This month they reported record financial and operational results. Cannabis companies that are widely known, like Canopy Growth Corporation, don’t provide the opportunity that Curaleaf does. The company is rooted in Massachusetts and operates throughout the United States with cultivation facilities, production facilities, and cannabis dispensaries. But is Curaleaf stock a strong cannabis stock pick for 2020?

Our analysts have found that one of the strongest cannabis stock investing opportunities for 2020 is Curaleaf. The company has a powerful presence with dozens of stores in the United States, three recently acquired dispensaries, and an increase in revenues to top it off. The company is presently one of the leading vertically integrated cannabis operators in the U.S. and it will continue to expand with the acquisition of Three Arrow Alternative Care in Connecticut.

Record Revenue Increase

Generated revenues announced by the company for the fourth quarter and year ended on December 31st, 2019 set new company revenue records. Curaleaf had record adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $25.9 million and record quarterly revenue of $13.8 million. The company also reported record quarterly pro forma revenue of $131.7 million and record full-year revenue of $221 million. Curaleaf’s record revenue for 2019 resulted in a 187% increase when compared to the previous year. Additionally, the company’s adjusted EBITDA increased to $25.9 million and is a sizeable increase from the prior year’s loss of $10.4 million.

Joseph Lusardi, Chief Executive Officer of Curaleaf, stated: “In fiscal 2019, the Curaleaf team delivered record results with our organic business growth and recent strategic acquisitions, solidifying our position as the leading cannabis operator in the United States. The fourth quarter represented our third consecutive quarter of positive Adjusted EBITDA, driven by additional production and retail locations coming online in key states as well as the positive impact of our increasing economies of scale. With the completion of the Select acquisition, we are now focusing on the integration and rollout of the Select brand across Curaleaf. Overall, we remain well-positioned for improving growth and profitability in 2020.”

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New Acquisitions

The company’s acquisition of three new dispensaries in Three Arrow Alternative Care in Connecticut comes with three strategically placed retail dispensary locations. These three stores are three out of the 18 retail cannabis dispensaries in Connecticut. The first location opened by Three Arrow Alternative was opened in 2014, the second dispensary in 2017, and opened its third location in January of 2020. The acquisition vertically integrates Curaleaf into the dispensaries and allows them to distribute its products directly to the state’s medical cannabis patients and wholesale channels.

“Arrow Alternative Care’s stores are the gold standard of pharmacy-like operations in Connecticut. They have grown a large, dedicated patient base by providing exceptional service and quality products. This acquisition will be immediately accretive and provides Curaleaf with vertical integration in Connecticut. We can now bring the knowledge we’ve cultivated through our experience across 15 states to Connecticut’s medical cannabis patients directly,” said Lusardi.

Curaleaf COVID-19 Update

Curaleaf also provided an update on its response to the COVID-19 virus. At this time, the company has worked on the minimization of risk to customers and employees through collaboration with local and state governments. It will continue to implement new procedures, technologies, and policies that will reduce the risk of customers and employees at its dispensaries. The company has implemented social distancing, increased sanitation and hygiene measures, technology to minimize contact through curbside delivery, express pickup, pre-orders over the phone and in-app orders.

“The COVID-19 situation is evolving rapidly and we are responding as quickly as possible to ensure we can continue to meet the needs of our customers. We have never been more committed to providing our vital services and products and will continue to do everything we can to fulfill that mission while protecting the wellbeing of our dedicated employees. In these difficult times, we will be hiring employees and working with local organizations to provide job opportunities to those who are out of work,” said Lusardi.

Curaleaf has implemented its expansion process successfully and will expand to 71 locations by the end of the year. The acquisition of Three Arrow Alternative will lead to the company’s location goal for the year and its revenues are promising as well. Record revenues were set by Curaleaf in 2019 and the company went from an adjusted EBITDA loss to adjusted EBITDA of $25.9 million.

For these reasons, we believe that an investment made into Curaleaf at or near its current price of $4.24 per share represents a great cannabis stock investment opportunity for 2020. The company is on its way to an expanded presence in multiple states with Connecticut being the first. Curaleaf has the ability to generate even higher record revenues than the ones it set in 2019 with additional dispensaries in 2020.

Top Cannabis Stock Pick for 2020, Curaleaf, Announces Record Revenues, Dispensary Acquisitions & Covid-19 Update


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