Curaleaf Earnings + Call Notes

Global canna leader reports Q125 results.

Curaleaf Earnings

$310M Revs; est. $311.9M
$65.2M AEBITDA; est. $63.3M
$155.2M GP; est. $149.4M
$7.8M OI; est. $7.4M
50% GM; est. 47.9%
($61.1M) NI; est. ($45.9M)
($0.07) EPS; est. ($0.08)

"First quarter revenue was $310M, with an adjusted gross profit of $155M, resulting in a 50% adjusted gross margin, an increase of 250 basis points compared to the prior year period.

We ended Q1 with $122 million in cash, with operating and free cash flow from continuing operations of $42 million and $26 million, respectively. Additionally, we paid down $20 million in acquisition-related debt.

International revenue grew by 74% year–over-year — marking the fourth consecutive quarter of 70% plus growth — and we are encouraged by prospects for new market openings that could materialize over the next year.

I'm happy to report we've completed much of the heavy lifting needed to reposition the business for long-term success, including streamlining operations, improving key manufacturing metrics, and sharpening our focus on flower quality.

This was evident through recent successful national product launches, including our hemp THC energy drink, Select FormulaX, our new innovation in the vape category, Select ACE, and the launch of our new pre-roll brand, Anthem.

I remain positive that we're positioning the business to remain resilient and agile in a dynamic environment."

Boris Jordan, Chairman and CEO

Call Notes