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● Harvest Health & Recreation Inc. Reports Second Quarter 2021 Financial Results • Second quarter revenue was $ 102.5 million , up 84 % from the second quarter 2020 and 15 % sequentially • Second quarter net loss before non - controlling interest was $ 19.2 million , compared to $ 23.0 million in the first quarter 2021 PHOENIX , August 10 , 2021 -- Harvest Health & Recreation Inc. ( " Harvest " or the " Company " ) ( CSE : HARV , OTCQX : HRVSF ) , a vertically integrated cannabis company and multi - state operator in the U.S. , today reported its financial and operating results for the second quarter 2021. All financial information is provided in U.S. dollars unless otherwise indicated . Second Quarter 2021 Financial Results Total revenue in the second quarter was $ 102.5 million , an increase of 84 % from $ 55.7 million in the second quarter of 2020 , and up 15 % compared to $ 88.8 million in the first quarter of 2021 . ● • Adjusted EBITDA was $ 28.0 million in the second quarter , compared to $ 26.9 million in the first quarter 2021 • 2021 revenue target of at least $ 400 million maintained Gross profit in the second quarter was $ 52.3 million , compared to $ 23.4 million in the second quarter of 2020 , and $ 47.9 million in the first quarter of 2021 . Gross profit margin in the second quarter was 51.0 % , compared to 42.1 % in the second quarter of 2020 and 53.9 % in the first quarter of 2021 . Net loss before non - controlling interest was $ 19.2 million for the second quarter , compared to $ 23.0 million in the first quarter of 2021 . Adjusted EBITDA in the second quarter was $ 28.0 million , compared to $ 26.9 million in the first quarter of 2021 . Please see the supplemental information regarding the use of Non - GAAP Financial Measures , and a reconciliation of Non - GAAP Financial Measures . Second Quarter 2021 Business Highlights On May 10 , 2021 , Trulieve announced its planned acquisition of Harvest . Each Harvest shareholder is expected to receive 0.1170 shares of Trulieve for each Harvest share , representing total consideration of approximately $ 2.1 billion and a 34 % premium to the May 7 , 2021 closing price of the Harvest shares . On May 7 , 2021 , Harvest announced that a settlement was reached regarding the grower / processor permittee AGRIMED Industries of PA , LLC . Harvest opened four new medical retail dispensaries in Florida in Lehigh Acres , North Miami Beach , Olympia Heights , and West Palm Beach and one new medical retail dispensary in York , Pennsylvania . As of June 30 , 2021 , Harvest owned , operated , or managed 42 retail locations in five