Twenty of the largest publicly traded marijuana companies in the U.S. lost a cumulative $2.3 billion last year, and only one of them turned a profit. That’s despite the group as a whole pulling in more than $8.7 billion in revenues, according to analysis of public filings by Green Market Report.
The included companies are all vertically integrated operators, with retail shops, grow operations, and manufacturing facilities in various states across the U.S. The bottom-line data is one of the few snapshots available for seeing how the cannabis sector in general is performing financially.
A similar analysis of 2022’s financial filings found that only two of 24 public cannabis companies posted profits that year. The group as a whole lost more than $4 billion that year, so losses have arguably contracted significantly year-over-year.
Biggest losers
The only cannabis company that posted net income in 2023 was Chicago-based Green Thumb…
