Quarterly ResultMay 8, 2026, 07:56 AM
Cresco Labs Q1 Revenue $151.3M; Net Loss $17M; Medical Marijuana Reclassified
AI Summary
Cresco Labs reported Q1 2026 revenue of $151.3 million and a net loss of $17.0 million, compared to $165.8 million revenue and a $15.2 million net loss in Q1 2025. The company achieved an Adjusted EBITDA of $33 million with a 21.7% margin. Subsequent to the quarter, the Trump Administration reclassified medical marijuana to Schedule III, a significant development expected to eliminate Section 280E for Cresco's medical operations. The company also expanded its footprint with a conditional Texas license, two new Ohio dispensaries, and a management agreement for nine Pennsylvania dispensaries.
Key Highlights
- Trump Administration reclassified medical marijuana to Schedule III, expected to eliminate Section 280E for medical operations.
- Q1 2026 revenue was $151.3 million, a decrease from $165.8 million in Q1 2025.
- Q1 2026 net loss was $17.0 million, compared to a $15.2 million net loss in Q1 2025.
- Achieved Q1 2026 Adjusted EBITDA of $33 million with an Adjusted EBITDA margin of 21.7%.
- Conditionally awarded a Texas Compassionate Use Program license for vertically integrated operations.
- Opened two new Ohio dispensaries in Bridgeport and Aberdeen subsequent to quarter end.
- Began supporting operations of nine Pennsylvania dispensaries under a management services agreement.
- Selling, general, and administrative expenses were $54 million, or 36.0% of revenue.