Thank welcome I'm operator, team. the the you, and by third call Ventures call quarter for earnings of XFront XXXX. entire joined on everyone today management to XFront
have and CFO, Dorsey; Joe Joe joined as our our Felpham Jake who is is CEO; Karl well. appointed Officer. of has Finance; Chowscano, Gontmakher, Chief our Strategy Leo Wooten, We Nicolle EVP and Operating newly Operations; in
I'm outlook remind forward-looking risk may also current to forward-looking results These during differ the are statements forward-looking these a be course begin, in and filings uncertainties statements section risks that I as does management revise of outlined Before our future. are not note number on in materials. any Safe present call, of obligated and factors. factors our to obligation to materially light that any be undertake the from everyone Any disclosure any to today and expectations are based considered we this statements subject of may expectations. Please conference of results is management in the and as cause some making that should of Harbor, actual
that quick of give overview So, me with very out the of a today. you let way, the call
business. on our pretty some of about in and the excited a we have we're We that have to get going through, lot things
follow-ups. call significant go Leo, color made trends table to then will with will entire step and our into the XXXX. review results As milestones any progress going always, third I'm going some detailed the conclude with hand We'll in who available exiting the growth XXXX, question-and-answer a I'll reiterating then of in some be operational update the and start management session, as to on we've function for on team the in business. more an I'm leverage thesis set over with we to provide operating highlighting the for we’ve our achieved along strategy, quarter where
me many with story. newer have we let to on that, call So that begin. the know are the XFront today I investors
what So, for. a this I'll be of fundamentals in uncertainty. investors business lot cannabis continue economic XFront as -- what of month’s caused thesis election, states our overwhelmingly voting industry and approve and the we in the playing of The start a are again cannabis robust face U.S. that global pandemic, laws momentum the With additional has to still creation outlining to of we're is distribution growth and the a in industry, in packaged -- we emergence believe in for is consumer chain production spot around stages. goods. industry its this outside low secular value At continues cost to really here witnessing build. consumer of XFront, the sweet And value massive cannabis that's just of very the much nascent
six State, which past XFront the in the in a distributed full have facilities are created position over retail years, state. of products, with locations For XXX a line dominant Washington
and in number license world. two achieved the the number share We've all Washington, while manufacturer cannabis producer overall attractive XXX market over two are one the facilities the this and in flower one very Our competitive in with markets holders edibles maintaining outperforming most number margins of profitability.
nascent Illinois, million over as, addressable tried our large is XX So these retail recreational capabilities and such and markets Massachusetts, stores true California. Michigan, of all-in and we as in simple. replicating by market people. our thesis, always say, serve I production We're And very a supported
to to pleased be we're So today important this as developments share we able thesis. on execute
was quarter QX hold of an XXXX our $XX.X reopening South well forma quarter, second primarily increase launch late XX% second facility. in within over The maniacal recreational the on business. focus driven objective our we and of in during XXXX. achieving the our July, taking half are by in our cash million, sequentially internally of growth stated year, store company even Revenue Massachusetts sales the seeing, as We Washington August, out generated pro this refer sales the of strength systemwide continued flow of to execution, was Chicago ahead in the but of of this in our expectations. the month Mission was positive operating of
was also basically EBITDA in quarter, second posting million quarter. on based our after positive $X.X first EBITDA a We adjusted had adjusted breakeven what
well. year, controls incredibly revenues cost have we driven tight move positions of operating and into as it accelerating leverage half strong this Our us back the
As XXXX. close the our by closed company and by be sale Partners. an facilities led sits a to will The on for mid-December, production and Industrial million by outstanding of million. also Green US$XX.X Mass. a announced for and oversubscribed deal bought providing we entered where has and $XX used leaseback Washington feeling agreement affiliates Securities pay company great company, balance down cultivation leaving senior Tumwater, debt sheet sale is into and it our the purchase and about to Gotham sale The definitive track to Innovative Properties, of with we're Last Georgetown, week Beacon
plans excited sets is deeper XXXX. our the of In use expand on come doesn't with the markets, sheet. including This $XX million So as closed cultivation established with and we're to due $XX And forma Illinois. keeping cultivation go amount facility then square large will feet Karl manufacturing Leo more about on on nascent going cultivation cash canopy, the bought allows And later, this this. manufacturing flexibility company exponentially of its blue proceeds bring state-of-the-art debt in construct which presence one significantly million the long-term obviously our The in in comes its incredibly us the balance to will the we're leaseback of sheet. to the acreage from Illinois. of approximately balance of that into that until acquiring pending of with that adult currently the have sharing XX and is presence strategy of for licenses to sale opine into November later. flowering transaction adds we're and more up of close and will looking its company XX, already company the for that pro state deal, It cultivation sky incredible the production XXXX of of finalizing scaled May and recently and XXX,XXX afternoon
shelves by funded the finished and automated to will sales for into Massachusetts second California, state. over in has the California construction market. which future packaged our current of first $X retail is budget. Illinois Our in state-of-the-art current of traditional of consumer introduced Illinois facilities for to included we mid-December our only manifesting forward Massachusetts plan projects and is to Illinois, similar for Commerce, our as keeping This largely goods square product focus on the entering sales for growth. the California revenues trends So XX,XXX not the to in facility cultivation scheduled be producer on quickly is the the fully critical than unprecedented in hub, expect well XXXX. Construction manufacturing in XX soon announce manufacturing Illinois which in Massachusetts over the of products of ability successfully week controls, capacity seen the also itself but our execution currently of QX one last time goods dispensary is this quarter, State. completion of stage brands our were and projects hit also on capacity production the in and number the expansion grew very industry. its City, speaking which anticipated Commerce have products XXXX in more Furthermore, and open in XX% times for set to The and to Commerce year. to scale Washington as quarter cannabis which by derivative produce is We in able and specifically facility these foot partial is Washington to second QX, as adult timing expense open incorporates expansion is look XFront’s our XFront complete, we Calumet the billion of May
and feedback traction demonstrating has markets there Our Illinois Mass our products fantastic. continues our Arbor dispensary market in to customers strategy Mission, from mature. as is and introducing been Washington the from In gaining our successful gotten Ann brands the showedXX% of growth and we've into new sequential
Washington the revenue XX% systemwide quarter as from Our market. pricing improving in grew and that to capacity benefit continues leads
Grove quarter XX% December revenue late to in in of hitting July retail and year. tailwind losing Illinois during this our leaving month capacity Our owing we additional early in it expanded up ramping Elk South will opened the it of in year the location after part of Mission back and closed was riots. July Shore opening the in next with declined Illinois after reopened a our sales second quarter-over-quarter largely have
along months of over said, The was company sales operations. corporate finish XX% as we've of month up, ahead overhead So by with headcount last reductions solid cash generated benefit plans. operating our our also positive I seen of Since year, And several through the our go-forward focus expense our reduced cost flow of streamlining the it August. and the and of to has structure. of right-sizing operational the internal trends, the late we've in
$X.X also the in what the the in million in adjusted of $X.X and first loss of million year in year. Our of versus EBITDA quarter as to this third breakeven was and fourth million loss compared $X.X quarter of was a last a basically quarter QX
for leave leverage of sets XXXX. up All and year us we as step into move operating this function this
now term Leo on additional set deeper Leo? delve medium term into the assets who by turn our bit I'll color the having and our to us call will provide plans. state a CEO, So our near stage, and over Gontmakher,
