Quarterly ResultMay 6, 2026, 06:09 AM
Curaleaf Q1 Revenue $324.2M, Net Income $69.8M; Buys Out German Unit
AI Summary
Curaleaf Holdings, Inc. reported strong first quarter 2026 results, with net revenue increasing 6% year-over-year to $324.2 million, exceeding guidance. The company achieved a net income of $69.8 million, or $0.09 per share, a significant improvement from a net loss in the prior year. Operational highlights include the full acquisition of its German subsidiary, Four20 Pharma, and the filing of applications for DEA registration, alongside strategic debt refinancing.
Key Highlights
- Curaleaf Q1 2026 net revenue was $324.2 million, a 6% increase year-over-year.
- Net income attributable to Curaleaf Holdings, Inc. was $69.8 million, or $0.09 per share.
- Gross profit margin was 49%, a decrease of 220 basis points year-over-year.
- Adjusted EBITDA was $63.4 million, with a 19.6% margin.
- Cash at quarter end totaled $106.1 million.
- Operating cash flow from continuing operations was $21.3 million, free cash flow was $4.3 million.
- Completed buyout of remaining 45% equity interest in German subsidiary Four20 Pharma.
- Filed applications for DEA registration for certain medical cannabis locations.
- Completed private placement of $500.0 million senior secured notes due 2029, repaying 2026 notes.