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4FRONT 4Front Ventures Reports Second Quarter 2021 Financial Results and Provides Business Update Systemwide Pro Forma Revenue of $ 34.4 million compared to $ 31.4 million in Q1 2021 , an increase of 85 % year over year and 10 % over Q1 2021 Q2 2021 Adjusted EBITDA increased 27 % sequentially to $ 7.5 million as compared to Q1 2021 , representing an Adjusted EBITDA margin of 22 % Navy Capital committed to lead financing of proposed accretive acquisition in core market Reiterated FY2021 guidance for Systemwide Pro Forma Revenue of $ 170-180 million and Adjusted EBITDA of $ 40-50 million The Company's existing licensed projects at maturity represent a long - term revenue and EBITDA opportunity upwards of $ 650 million and $ 250 million Conference call to be held today , August 16 , 2021 at 5:00 p.m. ET PHOENIX , Ariz . , Aug. 16 , 2021 / CNW / - 4Front Ventures Corp. ( CSE : FFNT ) ( OTCQX : FFNTF ) ( " 4Front " or the " Company " ) , a vertically integrated , multi - state cannabis operator and retailer , today announced its financial results for the second quarter ended June 30 , 2021 ( " Q2 2021 " ) . All financial information is presented in U.S. dollars unless otherwise indicated . Q2 2021 Financial Results Highlights • Systemwide Pro Forma Revenue of $ 34.4 million compared to $ 31.4 million in Q1 2021 , an increase of 85 % year over year and 10 % over Q1 2021 GAAP - reported revenue of $ 27.1 million compared to $ 23.0 million in Q1 2021 , an increase of 114 % year over year and 18 % over Q1 2021 Adjusted EBITDA increased 27 % to $ 7.5 million compared to $ 5.9 million in Q1 2021 , representing an Adjusted EBITDA margin of 22 % as compared to an Adjusted EBITDA margin of 19 % in Q1 2021 1 See " Note Regarding Non - GAAP Measures , Reconciliation , and Discussion " below for more information regarding non - GAAP measures referred to herein : Systemwide Pro Forma Revenue and Adjusted EBITDA Operational Highlights