The Public Cannabis Company Revenue & Income Tracker, managed by New Cannabis Ventures, ranks the top revenue producing cannabis stocks that generate industry sales of more than US$7.5 million per quarter (C$10.5 million). This data-driven, fact-based tracker will continually update based on new financial filings so that readers can stay up to date. Companies must file with the SEC or SEDAR to be considered for inclusion. Please note that we raised the minimum quarterly revenue in May 2019 from US$2.5 million and from US$5.0 million in October 2019.
46 companies currently qualify for inclusion, with 28 filing in U.S. dollars and 18 in the Canadian currency, which is up two from when we reported in early May. Cronos Group (TSX: CRON) , which reports in U.S. dollars, and Aleafia Health (TSX: ALEF) (OTC: ALEAF), which reports in Canadian dollars, joined the list. Several companies that had been expected to report by the end of April or mid-May have taken advantage of an extended deadline to accommodate delays due to the COVID-19 crisis, including five that report in U.S. dollars and three that file in Canadian dollars. We expect some additional delays as well.
In May 2019, we added an additional metric, “Adjusted Operating Income”, as we detailed in our newsletter. The calculation takes the reported operating income and adjusts it for any changes in the fair value of biological assets required under IFRS accounting. We believe that this adjustment improves comparability for the companies across IFRS and GAAP accounting. We note that often operating income can include one-time items like stock compensation, inventory write-downs or public listing expenses, and we recommend that readers understand how these non-cash items can impact quarterly financials. Many companies are moving from IFRS to U.S. GAAP accounting, which will reduce our need to make adjustments. Please note that our