In the first quarter of fiscal 2019, which ended on September 30, MedMen Enterprises (MMEN) (MMNFF) posted revenue of $21.46 million, a rise of 1,086% from $1.81 million in the corresponding quarter of fiscal 2018.

MedMen’s revenue consisted of direct sales from its retail stores. The company’s cultivation and wholesale production operations didn’t generate any material revenue during the quarter. A total of 86% of the company’s revenue was generated from its operations in California, while the remaining 14.0% came from its New York and Nevada operations. MedMen’s revenue growth was primarily driven by its opening of seven new retail stores and strong sales in California.