Earnings season is over for the big cannabis producers, and their sales numbers continue to get bigger. They are benefiting not just from organic growth but also from expansion into new markets and states. It's a trend that's not going to end anytime soon, especially as more states open up for business. The New Jersey recreational pot market will open within six months, and New York likely won't be too far behind. 

If you want exposure to the red-hot cannabis market, five companies to consider that are dominating the industry right now are Curaleaf Holdings (CURLF 0.79%)Trulieve Cannabis (TCNNF 1.01%), Green Thumb Industries (GTBIF -1.52%)Cresco Labs (CRLBF 1.80%), and Harvest Health & Recreation (HRVSF). Together, they generated more than $1 billion in revenue in their latest earnings reports, for the three-month period ending June 30. 

A person examining a cannabis plant outdoors.

Image source: Getty Images.

Curaleaf: $312 million in revenue

Curaleaf released its second-quarter results on Aug. 9, showing sales of $312 million were up 20% over the previous period and 166% higher than the same quarter last year. During the period, the cannabis producer opened five stores, including in top markets like Illinois, Pennsylvania, and New Jersey. In total, the company had 107 retail locations as of the end of the quarter.

What attracts many investors to the stock is the company's penchant for wheeling and dealing, which helps drive its growth. In May, Curaleaf announced that it was acquiring Colorado cannabis company Los Sueños, which has one of the largest outdoor marijuana farms in the country. In April, it also announced the acquisition of Emmac Life Sciences, a European-based cannabis company that will help it expand its operations outside the U.S.

Over the past 12 months, Curaleaf has generated $985 million in revenue and is now at an annual run rate well over the $1 billion mark. It remains technically in the top spot right now, but that could change once Trulieve's acquisition of Harvest Health is complete.

Trulieve and Harvest Health: $318 million

Trulieve hasn't closed on its acquisition of Harvest Health yet, but when it does, it could become the top marijuana stock in the world based on revenue. Combining its $215 million in revenue in the past quarter (78% growth) with Harvest Health's total of $103 million (84% growth) puts it slightly ahead of Curaleaf (unofficially). While Trulieve hasn't announced when the deal might be completed, it may only be a matter of time after Harvest Health shareholders approved the acquisition in an Aug. 11 meeting.

Although Trulieve has been expanding its operations slowly outside its home base in Florida, 85 of the 91 dispensaries it had opened as of the end of the second quarter were in that state. The company announced that it began operations in its first Massachusetts-based dispensary during the quarter. Arizona-based Harvest Health, which has 44 retail locations (including 16 in its home state), will quickly diversify Trulieve's portfolio and expand its growth potential.

The combined company will provide plenty of competition for Curaleaf, which is active in both Arizona and Florida.

Green Thumb Industries: $222 million

Green Thumb generated more revenue than Trulieve last quarter, with its top line rising 85% year over year to $222 million. But unlike Trulieve, it doesn't have a big acquisition waiting in the wings to dramatically bump up its revenue.

That doesn't mean investors should expect this company to stop growing anytime soon. During the period, it announced it was expanding into Virginia and Rhode Island. It also opened its 62nd retail location in the country with the launch of a Rise-branded store in Warminster, Penn.

The Illinois-based business brought in revenue from 12 states in the second quarter. In addition to its home state, it also has a presence in top cannabis markets such as Florida and Massachusetts, plus New York and New Jersey, which could present some of the hottest growth opportunities for the cannabis industry next year.

Over the trailing 12 months, Green Thumb has recorded $751 million in revenue. It is not far behind both Curaleaf and Trulieve and is closing in on a $1 billion run rate.

Cresco Labs: $210 million

Another Illinois-based company, Cresco Labs, is not far behind Green Thumb in revenue. With $210 million in sales during the same period, its top line grew 123% year over year. The company says that it is on track for a run rate of $1 billion by the end of the current year. 

Although it is right up there with some of the big cannabis producers on this list, Cresco Labs isn't as aggressive in its expansion and likes to carefully pick its spots. In June, it opened its 33rd store in the country, a fourth Sunnyside-branded location in Pennsylvania. One thing all these cannabis producers have in common: They love Florida. In April, Cresco Labs acquired Bluma Wellness and its eight dispensaries in the Sunshine State. Then in August, it launched its first Sunnyside store in the state. The entry into Florida marks the 10th state that Cresco Labs now has operations in. 

Over the trailing 12 months, the company has generated more than $704 million in revenue and could be yet another great cannabis stock for growth investors to pick up.