1. Curaleaf's Q4 revenue reached $331 million, slightly up sequentially. 2. Adjusted gross margin improved to 48%, reflecting lower production costs. 3. Operating cash flow for 2024 stood at $163 million. 4. The company aims to grow through the 'Return to our ROOTS' strategy. 5. Curaleaf ended Q4 with $107 million in cash and $568.6 million in debt.
The strong revenue and margin growth suggest financial stability. Previous examples, like growth post regulatory changes in cannabis markets, illustrate a potential for lasting value; still, ongoing debt levels must be monitored closely.
The financial results and strategic moves discussed are directly linked to shareholder value and market perception, indicating high importance for investors.
Curaleaf's initiatives for organic growth and margin optimization are designed for sustainability. Long-term growth expected from strategic expansions indicated in the report.
Total revenue of $331 million
International revenue of $31 million
Adjusted gross margin(1) of 48%
Full year operating cash flow from continuing operations of $163 million and free cash flow from continuing operations of $70 million.
STAMFORD, Conn., March 3, 2025 /PRNewswire/ --
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today reported its financial and operating results for the fourth quarter ended December 31, 2024. All financial information is reported in accordance with U.S. generally accepted accounting principles (GAAP) and is provided in U.S. dollars unless otherwise indicated.
Boris Jordan, Chairman and CEO of Curaleaf, stated, "Fourth quarter revenue was $331 million, up slightly sequentially. Adjusted gross margin was 48% and adjusted EBITDA was $76 million or 23%. We ended the fourth quarter with $107 million in cash on the balance sheet, and for the year, generated operating and free cash flow from continuing operations of $163 million and $70 million, respectively. Over the past two quarters, my primary objective has been to amplify our strengths, address key challenges, and stabilize the business. Having successfully achieved this, we are now forging ahead with our "Return to our ROOTS" initiative—an ambitious strategy centered on driving organic growth, optimizing margins and cash flow, and reducing debt. With this sharp focus, I am confident that Curaleaf will not only maintain but expand its leadership position. We will build on the strong organic growth seen in our International business, Ohio, and New York, while harnessing our innovation pipeline to elevate our product offerings. As we step into 2025, there are tremendous opportunities ahead for Curaleaf."
1 Adjusted EBITDA, adjusted net income (loss), adjusted gross profit and free cash flow are non-GAAP financial measures...
($ thousands)
| Three Months Ended | December 31, 2024 | September 30, 2024 | December 31, 2023 |
|---|---|---|---|
| Domestic revenues: | $235,698 | $243,253 | $270,473 |
| Wholesale revenue | 64,322 | 57,199 | 56,094 |
| Management fee income | 361 | 504 | 709 |
| Total domestic revenues | $300,381 | $300,956 | $327,276 |
For the full year 2024...
As of December 31, 2024, the Company had $107.2 million of cash and $568.6 million of outstanding debt net of unamortized debt discounts.
During the year ended December 31, 2024, Curaleaf invested $93.2 million in capital expenditures...
The Company will host a conference call and audio webcast for investors and analysts on Monday, March 3, 2025 at 5:00 P.M. ET to discuss Q4 2024 earnings results...
Curaleaf reports its financial results in accordance with GAAP...
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis...
Investor Contact: Curaleaf Holdings, Inc. Camilo Lyon, Chief Investment Officer
Media Contact: Curaleaf Holdings, Inc. Jordon Rahmil, VP Public Relations
Disclaimer: This press release contains "forward-looking information" and "forward-looking statements"...