The cannabis sector has trailed the broader markets by a wide margin in the last year.
Its cannabis investment banking division, called SunStream Bancorp, ploughed in close to $500 million in the first three quarters of 2021 in a bid to reverse Sundial’s fledgling fortunes.
While the cannabis market is expanding at a steady pace, Sundial’s sales are forecast to increase by just 6% year over year to $53.55 million.
In Q4 of 2021, Curaleaf increased sales by 39% year over year to US$320 million, allowing the company to end the year with US$1.2 billion in sales — an increase of 94% year over year.
Similar to other cannabis heavyweights, Curaleaf has also grown its top line on the back of aggressive acquisitions.
Curaleaf’s stellar revenue growth allowed it to increase adjusted EBITDA by 48% in Q4 to US$80 million and 107% in 2021 to US$298 million.
The marijuana behemoth is one of the few multi-state operators to have a presence in international markets such as Europe where cannabis sales are forecast to grow at an annual rate of 29.6% to US$37 billion in 2027.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor.