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Private company

Acreage Holdings, Inc.

Canadian retail-miscellaneous retail company based in New York1

In its 2024 annual report the company says: “Acreage Holdings, Inc. is a vertically integrated, multi-state operator in the U.S. cannabis industry. We appeal to medical and adult recreational use customers through brand strategies intended to build trust and loyalty. We are a British Columbia company that began trading on the Canadian Securities Exchange on November 15, 2018 following the completion of the reverse takeover transaction between us and High Street Capital Partners, LLC, which is an indirect subsidiary of ours, on November 14, 2018.”5

Last updated Oct 21, 2026.

Overview

$223.4MRevenue, fiscal 20232
-$69.1MNet income, fiscal 20232
  • IndustryRetail-Miscellaneous Retail1
  • HeadquartersNew York, New York1
  • Incorporated inBritish Columbia, Canada3
  • Business address366 Madison Avenue, 14Th Floor, New York, Ny 100173
  • Filer category, Emerging growth company3
  • Legal formCorporation

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Acreage Holdings, Inc. (“Acreage”, “we”, “us”, “our” or the “Company”) is a vertically integrated, multi-state operator in the U.S. cannabis industry. Our operations include (i) cultivating and processing cannabis plants, (ii) manufacturing branded consumer products, (iii) distributing cannabis flower and manufactured products, and (iv) retailing high-quality, effective and dosable cannabis products to consumers. We appeal to medical and adult recreational use (“adult-use”) customers through brand strategies intended to build trust and loyalty.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

38.3%Gross margin2
-13.9%Operating margin2
-30.9%Net margin2
-5.8%Revenue growth, 20232
-$34.1MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue62¢$137.7M
  • Other costs12¢$25.8M
  • Interest16¢$34.7M
  • Income tax11¢$25.1M

Out of $223.4M in revenue.2 The company lost money this year.

Financial statements

Revenue67892$223.4M in 2023+2785% since 2017
0$100.0M$200.0M$300.0M2017: $7.7M$7.7M20172018: $21.1M$21.1M2018+173%2019: $74.1M$74.1M2019+251%2020: $114.5M$114.5M2020+55%2021: $188.9M$188.9M2021+65%2022: $237.1M$237.1M2022+26%2023: $223.4M$223.4M2023−6%
Gross profit67892$85.6M in 2023+2393% since 2017
0$50.0M$100.0M$150.0M2017: $3.4M$3.4M20172018: $9.4M$9.4M2018+174%2019: $30.4M$30.4M2019+223%2020: $49.2M$49.2M2020+61%2021: $95.9M$95.9M2021+95%2022: $101.7M$101.7M2022+6%2023: $85.6M$85.6M2023−16%
Operating income67892-$31.1M in 2023+342% since 2017
-$400.0M-$300.0M-$200.0M-$100.0M02017: -$7.0M-$7.0M20172018: -$41.1M-$41.1M2018+484%2019: -$191.4M-$191.4M2019+365%2020: -$364.8M-$364.8M2020+91%2021: -$47.1M-$47.1M2021−87%2022: -$143.1M-$143.1M2022+204%2023: -$31.1M-$31.1M2023−78%
Net income67892-$69.1M in 2023+709% since 2017
-$300.0M-$200.0M-$100.0M02017: -$8.5M-$8.5M20172018: -$27.5M-$27.5M2018+222%2019: -$150.3M-$150.3M2019+447%2020: -$286.6M-$286.6M2020+91%2021: -$63.0M-$63.0M2021−78%2022: -$139.9M-$139.9M2022+122%2023: -$69.1M-$69.1M2023−51%
Fiscal year20162017201820192020202120222023
Revenue$7.7M6$21.1M7$74.1M8$114.5M9$188.9M2$237.1M2$223.4M2
Cost of revenue$4.3M6$11.7M7$43.7M8$65.4M9$93.0M2$135.4M2$137.7M2
Gross profit$3.4M6$9.4M7$30.4M8$49.2M9$95.9M2$101.7M2$85.6M2
Operating expenses$143.0M2$244.8M2$116.8M2
Operating income-$7.0M6-$41.1M7-$191.4M8-$364.8M9-$47.1M2-$143.1M2-$31.1M2
Interest$1.2M6$4.6M7$1.2M8$15.9M9$20.0M2$24.0M2$34.7M2
Income before tax-$55.4M2-$158.7M2-$52.8M2
Income tax$970.0K6$1.5M7$5.0M8-$17.2M9$17.8M2$10.0M2$25.1M2
Net income-$8.5M6-$27.5M7-$150.3M8-$286.6M9-$63.0M2-$139.9M2-$69.1M2
Earnings per share-$1.748-$2.929-$0.602-$1.282-$0.612
Earnings per share (diluted)-$1.748-$2.929-$0.602-$1.282-$0.612
Shares (weighted, basic)105.1M shares2109.7M shares2113.9M shares2
Shares (weighted, diluted)105.1M shares2109.7M shares2113.9M shares2

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Corporate structure

Acreage Holdings, Inc. sits at the top of its group. 75 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Acreage Holdings, Inc.

  • Kevin P. Murphy Filed SC 13G on Acreage Holdings, Inc., latest Feb 14, 2022
  • Acreage Holdings, Inc. New York, New York
    • 22nd and Burn Inc. (d/b/a Cannablis & Co) Subsidiary · Oregon, United States
    • Acreage California Holding Company, LLC Subsidiary · California, United States
    • Acreage CCF New Jersey, LLC Subsidiary · New Jersey, United States
    • Acreage Chicago 1, LLC Subsidiary · Illinois, United States
    • Acreage Conn. CBD, LLC Subsidiary · Connecticut, United States
    • Acreage Connecticut Cultivation JV, LLC Subsidiary · Connecticut, United States
    • Acreage Connecticut Retail, JV, LLC Subsidiary · Connecticut, United States
    • Acreage Connecticut, LLC Subsidiary · Connecticut, United States
    • Acreage Finance Delaware, LLC Subsidiary · Delaware, United States
    • Acreage Holdings America, Inc. Subsidiary · Nevada, United States
    • Acreage Holdings WC, Inc. Subsidiary · Nevada, United States
    • Acreage Illinois 1, LLC Subsidiary · Illinois, United States
    • Acreage Illinois 2, LLC Subsidiary · Illinois, United States
    • Acreage Illinois 3, LLC Subsidiary · Illinois, United States
    • Acreage Illinois Holding Company, LLC Subsidiary · Illinois, United States
    • Acreage IP California, LLC Subsidiary · California, United States
    • Acreage IP Connecticut, LLC Subsidiary · Connecticut, United States
    • Acreage IP Holdings, LLC Subsidiary · Nevada, United States
    • Acreage IP Maine, LLC Subsidiary · Maine, United States
    • Acreage IP Massachusetts, LLC Subsidiary · Massachusetts, United States
    • Acreage IP Nevada, LLC Subsidiary · Nevada, United States
    • Acreage IP New Jersey, LLC Subsidiary · New Jersey, United States
    • Acreage IP New York, LLC Subsidiary · New York, United States
    • Acreage IP Ohio, LLC Subsidiary · Ohio, United States
    • Acreage IP Pennsylvania, LLC Subsidiary · Pennsylvania, United States
    • and 49 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Acreage Holdings, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$6.2M2 Dec 31, 2023$4.3M2 Dec 31, 2022+44.8%
Operating-lease assets (leased space)$17.5M2 Dec 31, 2023$22.4M2 Dec 31, 2022−21.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.6M2 Dec 31, 2023$24.1M2 Dec 31, 2022−43.4%
Long-term investments$33.2M2 Dec 31, 2023$34.0M2 Dec 31, 2022−2.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$13.3M2 Dec 31, 2023$13.8M2 Dec 31, 2022−3.0%
Intangible assets, net (excluding goodwill)$31.0M2 Dec 31, 2023$35.1M2 Dec 31, 2022−11.6%
Indefinite-lived intangibles (excluding goodwill)$31.0M2 Dec 31, 2023$35.1M2 Dec 31, 2022−11.6%
Finite-lived intangibles, gross$02 Dec 31, 2023$1.0M2 Dec 31, 2022−100.0%
Accumulated amortization$02 Dec 31, 2023$1.0M2 Dec 31, 2022−100.0%
Finite-lived intangibles, net$02 Dec 31, 2023$02 Dec 31, 2022

Inventory

ItemLatestA year beforeChange
Inventory, total$47.7M2 Dec 31, 2023$49.4M2 Dec 31, 2022−3.6%

Leadership

Who has led Acreage Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Filippo Caldini2021–2023
  2. Dennis Curran2023–2024

Chief financial officer

  1. Glen S. Leibowitz2019–2021
  2. Steve Goertz2021–2022
  3. Carl B. Nesbitt2023

Chief operating officer

  1. Robert Daino2019–2022
  2. Dennis Curran2022–2023
20202025
Board members and other officers (14)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorWilliam Van Faasen named Jun 20, 202435

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 22nd and Burn Inc. (d/b/a Cannablis & Co) Oregon4
  • Acreage CCF New Jersey, LLC New Jersey4
  • Acreage California Holding Company, LLC California4
  • Acreage Chicago 1, LLC Illinois4
  • Acreage Conn. CBD, LLC Connecticut4
  • Acreage Connecticut Cultivation JV, LLC Connecticut4
  • Acreage Connecticut Retail, JV, LLC Connecticut4
  • Acreage Connecticut, LLC Connecticut4
  • Acreage Finance Delaware, LLC Delaware4
  • Acreage Holdings America, Inc. Nevada4
  • Acreage Holdings WC, Inc. Nevada4
  • Acreage Holdings, Inc. British Columbia4
  • Acreage IP California, LLC California4
  • Acreage IP Connecticut, LLC Connecticut4
  • Acreage IP Holdings, LLC Nevada4
  • Acreage IP Maine, LLC Maine4
  • Acreage IP Massachusetts, LLC Massachusetts4
  • Acreage IP Nevada, LLC Nevada4
  • Acreage IP New Jersey, LLC New Jersey4
  • Acreage IP New York, LLC New York4
  • Acreage IP Ohio, LLC Ohio4
  • Acreage IP Pennsylvania, LLC Pennsylvania4
  • Acreage Illinois 1, LLC Illinois4
  • Acreage Illinois 2, LLC Illinois4
All 75 listed subsidiaries
  • Acreage Illinois 3, LLC Illinois4
  • Acreage Illinois Holding Company, LLC Illinois4
  • Acreage Massachusetts, LLC Delaware4
  • Acreage Michigan 1, LLC Michigan4
  • Acreage Michigan 2, LLC Michigan4
  • Acreage Michigan 3, LLC Michigan4
  • Acreage Michigan 4, LLC Michigan4
  • Acreage Michigan, LLC Michigan4
  • Acreage New York, LLC New York4
  • Acreage Relief Holdings OK, LLC Oklahoma4
  • Acreage Transportation, LLC Pennsylvania4
  • Acreage-CCF, Inc. New Jersey4
  • D&B Wellness, LLC (DBA Compassionate Care Centers of CT) Connecticut4
  • East 11th, Incorporated Oregon4
  • Form Factory Holdings, LLC Delaware4
  • Greenleaf Apothecaries, LLC (d/b/a The Botanist) Ohio4
  • Greenleaf Gardens, LLC Ohio4
  • Greenleaf Therapeutics, LLC Ohio4
  • HSC Solutions, LLC Delaware4
  • HSCP CN Holdings II ULC Alberta4
  • HSCP CN Holdings ULC Alberta4
  • HSCP Holding Corporation Delaware4
  • HSCP Oregon, LLC (d/b/a Acreage Oregon) Oregon4
  • HSCP Service Company Holdings, Inc. Delaware4
  • HSCP Service Company, LLC Delaware4
  • HSPC Holding Corporation Delaware4
  • High Street Capital Partners Management, LLC Delaware4
  • High Street Capital Partners, LLC Delaware4
  • In Grown Farms, LLC Illinois4
  • In Grown Farms, LLC 2 Illinois4
  • Iowa Relief, LLC Iowa4
  • Joy Sellers Enterprises, LLC Illinois4
  • Kevin Michigan, LLC Michigan4
  • Kind Care, LLC Connecticut4
  • MA RMD SCVS, LLC Massachusetts4
  • NCC LLC (d/b/a Nature's Care Company) Illinois4
  • NCC Real Estate, LLC Illinois4
  • NPG, LLC (DBA Wellness Connection) Maine4
  • NYCANNA, LLC Delaware4
  • Northeast Patients Group (d/b/a Wellness Connection of Maine) Maine4
  • Prime Alternative Treatment Center Consulting, LLC New Hampshire4
  • Prime Alternative Treatment Centers of NH, Inc. New Hampshire4
  • Prime Wellness of Connecticut, LLC Connecticut4
  • Prime Wellness of Pennsylvania, LLC Pennsylvania4
  • Thames Valley Apothecary, LLC Connecticut4
  • The Botanist, Inc. Massachusetts4
  • The Firestation 23, Inc. (d/b/a Cannabliss & Co) Oregon4
  • The Wellness & Pain Management Connection, LLC Delaware4
  • Universal Hemp Canada ULC Canada4
  • Universal Hemp II, LLC Delaware4
  • Universal Hemp, LLC Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Dec 9, 20248-K Completed an acquisition or sale; Change to shareholders' rights; Change in control36
  2. Dec 5, 20248-K Other events37
  3. Nov 29, 20248-K Other events38
  4. Nov 15, 20248-K Results of operations39
  5. Oct 15, 20248-K Entered a material agreement40
  6. Sep 19, 20248-K Entered a material agreement41
  7. Aug 14, 20248-K Results of operations42
  8. Jun 12, 20248-K Shareholder vote43
  9. Jun 7, 20248-K Entered a material agreement; New debt or obligation; Unregistered sale of shares44
  10. May 31, 20248-K Results of operations45
  11. May 14, 20248-K Entered a material agreement46
  12. Apr 30, 20248-K Entered a material agreement47
  13. Sep 25, 2023New chief executive Dennis Curran becomes CEO14
  14. Jan 5, 2021New chief executive Filippo Caldini becomes CEO15

Calendar

When it reported results

  1. Nov 15, 2024Reported quarterly or annual results39
  2. Aug 14, 2024Reported quarterly or annual results42
  3. May 31, 2024Reported quarterly or annual results45
  4. Apr 30, 2024Reported quarterly or annual results48
  5. Nov 14, 2023Reported quarterly or annual results49
  6. Aug 10, 2023Reported quarterly or annual results50
  7. May 23, 2023Reported quarterly or annual results51
  8. May 2, 2023Reported quarterly or annual results52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

159 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 47 major events, 52 insider forms, 1 large holders, 1 private raises, 44 other. The latest 20:

  1. Dec 12, 2024EFFECT EDGAR
  2. Dec 9, 202415-12G EDGAR
  3. Dec 9, 2024S-8 POS EDGAR
  4. Dec 9, 2024S-8 POS EDGAR
  5. Dec 9, 2024S-8 POS EDGAR
  6. Dec 9, 2024POS AM EDGAR
  7. Dec 9, 20244 EDGAR
  8. Dec 9, 20244 EDGAR
  9. Dec 9, 20244 EDGAR
  10. Dec 9, 20244 EDGAR
  11. Dec 9, 20244 EDGAR
  12. Dec 9, 20248-K EDGAR
  13. Dec 5, 20248-K EDGAR
  14. Nov 29, 20248-K EDGAR
  15. Nov 15, 20248-K EDGAR
  16. Nov 14, 202410-Q EDGAR
  17. Oct 15, 20248-K EDGAR
  18. Sep 27, 20244 EDGAR
  19. Sep 20, 20244 EDGAR
  20. Sep 20, 20244 EDGAR

The 159 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

20 open-market trades by officers, directors and large owners since October 2021: 4 buys and 16 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 25, 2024Himmelstein PhilipChief Finance OfficerSale5,000$0.20$1.0KForm 4
Sep 18, 2024Curran DennisChief Executive OfficerSale113,476$0.18$20.4KForm 4
Sep 18, 2024Himmelstein PhilipChief Finance OfficerSale50,000$0.20$10.0KForm 4
Jun 12, 2024Himmelstein PhilipChief Finance OfficerSale70,613$0.25$17.7KForm 4
Jun 12, 2024Sheahan Corey J.General CounselSale7,800$0.27$2.1KForm 4
Jun 7, 2024Himmelstein PhilipChief Finance OfficerSale2,994$0.25$748Form 4
Jul 12, 2022Strom StevenDirectorBuy294,595$0.59$173.8KForm 4
Jul 11, 2022Strom StevenDirectorBuy122,316$0.91$111.4KForm 4
Apr 8, 2022Caldini FilippoChief Executive OfficerSale31,346$1.64$51.4KForm 4
Apr 8, 2022Doherty James A IIIGeneral CounselSale18,582$1.64$30.5KForm 4
Mar 31, 2022Caldini FilippoChief Executive OfficerSale312$1.75$546Form 4
Mar 31, 2022Daino RobertChief Operating OfficerSale249$1.75$436Form 4
Mar 31, 2022Doherty James A IIIGeneral CounselSale184$1.75$322Form 4
Mar 30, 2022Caldini FilippoChief Executive OfficerSale51,541$1.58$81.2KForm 4
Mar 30, 2022Daino RobertChief Operating OfficerSale31,981$1.61$51.5KForm 4
Mar 30, 2022Doherty James A IIIGeneral CounselSale23,713$1.61$38.2KForm 4
Dec 30, 2021Murphy Kevin PDirectorBuy25,000$1.58$39.5KForm 4
Dec 23, 2021Doherty James A IIIGeneral CounselSale2,046$1.64$3.4KForm 4
Dec 23, 2021Daino RobertChief Operating OfficerSale2,365$1.64$3.9KForm 4
Oct 1, 2021Murphy Kevin PDirectorBuy16,000$2.26$36.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Kevin P. MurphySC 13G, 1 filing Feb 14, 202253

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.5M 2024–2024
Money received by yearMoney received by year, 2024–2024: $1.5M in all. Private raises (Form D) $1.5M.$0$500K$1M$1.5M2024 · Private raises (Form D): $1.5M2024
Figures by year
YearPrivate raises (Form D)Total
2024$1.5M$1.5M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jun 5, 2024Raised $1.5 million in a private offering of debt35 Form D: 1 investor so far Form D

SEC filer profile

How Acreage Holdings, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAcreage Holdings, Inc.1
  • CIK0001762359
  • Filer status<br>emerging growth company1
  • Incorporated inBritish Columbia, Canada1
  • Fiscal year endsDecember 311
  • Industry code (SIC)5900 Retail-Miscellaneous Retail1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address366 Madison Avenue, 14Th Floor, New York, NY 100171
  • Phone646-600-91811
  • Public float$18.0M as of Jun 30, 202354
  • On EDGAR sinceJan 3, 20191
  • Filings375 in all: 4 (99), 8-K (86), 6-K (47), 3 (22), 10-Q (15), DEFA14A (14), UPLOAD (11), CORRESP (9)1
    All 41 form types

    424B3 (6), 10-K (5), DEF 14A (5), EFFECT (5), NT 10-Q (5), D (3), NT 10-K (3), PRER14A (3), S-3 (3), S-8 (3), S-8 POS (3), 10-K/A (2), ARS (2), DEFM14A (2), F-X (2), PREM14A (2), RW (2), 144 (1), 15-12G (1), 40-F (1), 40-F/A (1), 40FR12G (1), 6-K/A (1), 8-A12G (1), 8-K/A (1), F-10 (1), F-10/A (1), POS AM (1), S-1 (1), S-1/A (1), S-3/A (1), SC 13G (1), SUPPL (1)

  • Latest filingsAnnual report (10-K) Apr 30, 2024
    Quarterly report (10-Q) Nov 14, 2024
    Proxy statement (DEF 14A) Apr 30, 2024
    Latest 8-K (8-K) Dec 9, 2024

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
  38. 38
    SEC EDGAROther events
  39. 39
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