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Curaleaf to adjust marijuana revenue from previous financial results

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New York-based marijuana multistate operator Curaleaf Holdings will adjust its revenue for 2022 and 2021 after it restates some of its previously issued financial statements.

The company’s previously reported revenue of $1.2 billion for 2021 will be reduced by approximately 1.25%, according to a news release.

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And its adjusted revenue for 2022 will be an estimated $1.3 billion, with fourth-quarter revenue of roughly $352 million.

Curaleaf delayed reporting its fourth-quarter or full-year financial results in March because the company is converting its financials from International Financial Reporting Standards (IFRS) to U.S. Generally Accepted Accounting Principles (GAAP).

After reviewing the timing of wholesale purchases and sales in the last quarter of 2021 and the first half of 2022, the company determined that some previously reported revenue wasn’t appropriate.

Curaleaf plans to make adjustments to its fourth-quarter results from 2021 as well as the first three quarters

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Marijuana Business Daily

Building cannabis brands that reach across markets

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Richard Proud (Courtesy photo)

Consumers can be a perplexing group – and even contradictory – especially in an industry as new and complex as cannabis.

This makes the task of building cannabis brands that resonate across geographical areas a significant challenge.

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The best brands find ways to connect, knowing their audience will react to brands that help them feel good about themselves, their community and the decisions they make.

As former Starbucks CEO Howard Shultz said, “If people believe they share values with a company, they will stay loyal to the brand.”

Consumer appeal and connection

For marijuana businesses, consumer nuances pose a unique challenge: How

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From client to co-founder, Storz & Bickel executive on US tour to drum up cannabis business

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Jürgen Bickel is not only the founder and managing director of Storz & Bickel, he’s also a longtime client of the company’s iconic cannabis smoking device.

The medically certified product manufacturer, based in Tuttlingen, Germany, is celebrating the 25th anniversary of its Volcano vaporizer, which has sold hundreds of thousands of units worldwide since its early days on the market when Bickel first tried it as a consumer.

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“It’s really for people who are frequently using cannabis,” he told MJBizDaily during a recent interview and product demo at a private cabana at The Woods in West Hollywood, California.

“There’s a lot of patients who really need to use it several times a day.

“They need reliability and reproducibility.”

The Woods, owned by

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Virginia governor expected to veto recreational marijuana sales legislation

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Virginia appears set to remain the only state in the country with recreational marijuana legalization but without legal sales.

That status quo would continue if, as widely expected, Republican Gov. Glenn Youngkin again vetoes adult-use sales legalization bills that state lawmakers recently sent to him.

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For the second straight year, Virginia’s Democratic-controlled General Assembly passed legislation that would finally set up adult-use sales in the state.

Youngkin’s Democratic predecessor, Ralph Northam, signed legalization into law in 2021, but that bill had a clause that required further action to create a market projected to be worth hundreds of millions.

The most recent legislation would give exclusive adult-use sales rights to the state’s existing medical marijuana businesses, which include major multistate operators such as:

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