Cresco Earnings + Call Notes

U.S. cannabis leader shares Q225 results.

Cresco Labs Earnings

$164M Revs; est. $162.3M
$41M AEBITDA; est. $33.4M
$83M GP; est. $77M
$16.1M OI; est. $14M
50.6% GM; est. 47.5%
($14M)NI; est. ($16M)
($0.03 )EPS; est. ($0.05)

Retained the No. 1 share position in multiple billion dollar markets.

"In Q2, we delivered solid performance inline with guidance, maintained our market share in a highly competitive environment, and continued to drive cash flow through operational discipline.

Crucially, we signed a commitment letter to refinance our debt with a new $325M term loan. This milestone reinforces our balance sheet, preserves our equity value and creates financial flexibility for years to come. The improved structure and terms give us a stronger foundation to execute against both near-term priorities and long-term growth opportunities.

The cannabis industry is entering a new phase, defined by consolidation and rationalization. We’re seeing more opportunities for M&A in very productive states that will be incremental for Cresco.

As previously stated, we’re going to be opportunistic while staying patient and disciplined so we can invest in sustainable growth when the right opportunities arise.

With our proven operating model, focused and productive footprint, and clean capital structure, we’re built for this moment and are well-positioned to be a partner of choice as the industry consolidates.”

Charlie Bachtell, Cresco Labs CEO

Call Notes