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$12.5 million per quarter (C$16.2 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 and be current to be considered for inclusion. Please note that we have raised the minimum quarterly revenue several times as the industry has scaled up, including from US$10.0 million in November 2020, US$7.5 million in June 2020, US$5.0 million in October 2019 and US$2.5 million in May 2019.
38 companies currently qualify for inclusion, with 27 filing in U.S. dollars and 11 in the Canadian currency, which is up four from our update a month ago. As a result of the higher minimum quarterly revenue, Cronos Group (TSX: CRON) (NASDAQ: CRON), Vireo Health (CSE: VREO) (OTC: VREOF) and cbdMD (NYSE American: YCBD) were removed from the group of American dollar companies, Additionally, 4Front (CSE: FFNT) (OTC: FFNTF) was removed due to a financial restatement that pushed it below the minimum. We added Greenlane Holdings (NASDAQ: GNLN) and Turning Point Brands (NYSE: TPB) after giving careful consideration to the nature of their revenue. For Greenlane, less than 10% is non-cannabis, while the smoking segment appears to be more than 90% related to cannabis. For Canadian dollar companies, Alcanna (TSX: CLIQ) (OTC: LQSIF) was removed from the list of Canadian dollar companies. while Meta Growth was removed due to its acquisition. MediPharm Labs (TSX: LABS) (OTC: MEDIF) was also removed after its quarterly revenue fell below the prior minimum. We continue to expect additional companies to qualify in the future.
In May 2019, we added an additional metric, “Adjusted Operating Income”, as we detailed in our newsletter.