American Cannabis News

Cresco Labs Saw Revenue Shrink Again – New Cannabis Ventures

Published

2 hours ago

March 6, 2026

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Cresco Labs Delivers Q3 2025 Revenue of $162M and Sequential Margin Improvement

CHICAGO – (BUSINESS WIRE) – Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“Cresco Labs” or the “Company”), an industry leader in branded cannabis products with a portfolio of America’s most popular brands and operator of Sunnyside dispensaries, today announced its financial and operating results for the 2nd quarter ended December 31 and year-end. In accordance with U.S. GAAP and in U.S. dollars unless otherwise noted, and is available on the Company’s investor website here.

Highlights of FY2025

Revenue: $656 million. Operating cash flow of $73 million and free cash flow¹ of $38 million.
Gross profit: $325 million. Adjusted gross profit¹ $329 million; and an adjusted gross margin of 50.2%¹.
SG&A $218 million. Adjusted SG&A¹ decreased 5.7% year-over-year to $200 million, or 30.4%.
A net loss of $140 million, which included one-time, non-cash charges of $105 million related to the Company’s intangible assets and goodwill impairment related to the impairment of the New York reporting unit and fair value adjustments to the California reporting unit related to the sale of Sonoma’s Finest.
Adjusted EBITDA¹ of $157 million and Adjusted EBITDA margin¹ of 24.0%.
It maintained the #1 equity position in multi-billion dollar markets throughout the year.²

Highlights of the fourth quarter of 2025

Fourth quarter revenue: $162 million. Fourth quarter operating cash flow: $27 million.
$83 million gross profit. Adjusted gross profit¹ $84 million; and adjusted gross margin¹ of 52.2%.
SG&A of $57 million or 35.3% of revenue.
A net loss of $89 million, which included a one-time, non-cash charge of $93 million related to the write-off of the New York reporting unit.
Fourth quarter adjusted EBITDA¹ of $40 million and adjusted EBITDA margin¹ of 25.0%.
Maintained #1 stock position in multi-billion dollar markets

Management Commentary

“In the fourth quarter, we strengthened our financial foundation, expanding margins and generating significant cash flow. We delivered $162 million in revenue, $40 million in adjusted EBITDA and $27 million in operating cash flow, with consistent improvements in multiple profitability metrics. Our focused strategy continues to enhance our competitive position.”

“The cannabis industry is consolidating in real time, and Cresco Labs is operating from a strong position. we continue to show that we win where we operate. We are intentionally building an efficient money-generating platform by balancing organic expansion with selective, active acquisitions while maintaining a strong balance sheet. With leading brand name brand stock, distinctive retail stock. it is positioned to capitalize on industry consolidation and federal reform to create long-term shareholder value.”

_{¹See “Non-GAAP Financial Measures” at the end of this press release for additional information on the Company’s use of non-GAAP financial measures.}
_{²According to Hoodie Analytics.}

Balance sheet, liquidity and other financial information

As of December 31, 2025, current assets were $259 million, including cash, cash equivalents and $91 million of restricted cash. An additional $3 million of restricted cash was classified as a non-current asset. The Company had $311 million of secured term loan debt net of discount and issuance costs and $19 million of mortgage loan debt net of discount and issuance costs.
Total shares outstanding on a fully converted basis were 491,585,556 subordinate voting shares as of December 31, 2025.

Conference call and webcast

The Company will hold a conference call and webcast to discuss its financial results on Thursday, March 5, 2026 at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). The conference call can be accessed via webcast or by dialing 1-833-470-1428 (US toll-free) or 1-646-844-6383 (US local) and providing access code 152399. Archived access to the webcast will be available for one year on Cresco Labs’ investor website here.

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.

Related Topics:Cannabis Cresco Labs Revenue Shrink Ventures

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A Frightening Florida Medical Cannabis Market – New Cannabis Ventures

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American Cannabis News

A Frightening Florida Medical Cannabis Market – New Cannabis Ventures

Published

1 day ago

March 5, 2026

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A Frightening Florida Medical Cannabis Market – New Cannabis Ventures

You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.

friends,

In May 2024 warned readers about Florida hemp field. There have been many follow-ups, the latest of which was in early January, and it pointed to the fact that Florida’s medical cannabis market is shrinking. Two months later, things look bleak there as the mature market becomes more competitive.

Each month we share BDSA data and Florida is one of the markets where they provide monthly sales estimates. Florida does a fantastic job of sharing weekly data on unit volumes, but it doesn’t provide revenue data.

The BDSA estimates Florida hemp sales totaled $126.1 million in February, down 0.4% from a year ago. January sales fell 4.1% from a year earlier, and 2025 sales are expected to rise just 2.9% after rising 20.9% in 2024.

Florida provides a wealth of data that allows for a good understanding of state trends. First, they provide the number of patients, which, according to 2/27 report was 933 thousand. Growth has slowed down.

During the last year, the growth was 3.4%, and in the last three months it increased by only 0.4%. Patient growth is projected to be 3.9% in 2025 and 3.3% in 2024, following an 11% increase in 2023. The medical cannabis industry is maturing in the state, and the current number of patients is almost 4% of the total population.

Florida shares the total number of stores (742 currently), which is up 4.7% year-over-year. Ahead of the election in 2024, which could legalize cannabis for adult use, there was a big increase, with the number of shops increasing by 14%. The growth of stores has led to more competition.

The state splits the volumes, and the two largest parts are “medical marijuana” in mg for THC products and “marijuana for smoking” in ounces. Sales of medical cannabis products rose 12.6% last week, while smoking cannabis grew 11.4%. This growth was much higher than the revenue growth projected by the BDSA, suggesting that pricing is under pressure.

Florida also breaks down unit sales by licensed operator and shares how many distribution locations each operates. This data shows how concentrated the state is, as 51.2% of the state’s vertically integrated dispensaries are owned by just four companies, including Trulieve, Verano (MÜV), Curaleaf, and Ayr Wellness (which bought Liberty Health). These four companies sold 56% of medical cannabis and 61% of smokable cannabis last week. Interestingly, Trulieve, which has nearly twice as many stores as runner-up Verano, saw its medical cannabis volumes decline from a year ago.

When voters failed to approve adult-use cannabis in 2024, falling short of the required 60% affirmative vote, these major Florida operators saw their stocks decimated. It’s been the hardest for Ayr Wellness, but they’ve all come down a lot.

It’s not yet known if Florida voters will vote again this year, but things could improve if adult legalization is implemented. Also, the federal ban on THC from hemp could increase demand later this year when it is implemented. With that said, Florida’s medical cannabis market appears to be struggling. Trulieve is very large in the state and has significant influence with it compared to other states. Analysts forecast Trulieve’s 2026 revenue to decline 1% after falling less than 1% in 2025. More importantly, they forecast adjusted EBITDA to decline 6% in 2026.

Sincerely,

Alan:

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we have published in the last 2 weeks.

Exclusives

Cannabis sales remained weak in February

Hemp stocks are stable

Financial statements

Cresco Labs saw revenue shrink again

Curaleaf’s Q4 revenue rose 2%

Follow Alan for real-time updates X.com:. Share and discover industry news with like-minded people on the largest group of cannabis investors and entrepreneurs LinkedIn:.

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.

Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El

In this article.

ayr health, AYRWF:, Cresco Labs, CRLBF:, Curaleaf:, curly, Florida, tcnnf:, WRONG:, to truly believe, summer, WITH:

American Cannabis Coverage by State

Cannabis Sales Remained Weak in February – New Cannabis Ventures

Published

3 days ago

March 3, 2026

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Cannabis Sales Remained Weak in February – New Cannabis Ventures

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s 15-state monthly cannabis sales data.

In February, the sale of cannabis decreased sequentially by 3.6%. Adjusted for fewer days, sales rose 6.7% sequentially on a daily basis. In this review, we break down the results by state, starting with the western markets and then ending with the eastern markets. Overall, the BDSA estimates sales in 15 markets totaled $1.99 billion in February, up 2.7 percent from a year ago.

Western markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In February, the annual growth was negative in 3 states. Growth in each of these states fell in succession.

Eastern markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. Year-over-year growth in February ranged from -1.5% in Missouri to +27.3% in Ohio. Ohio began using adults in August, spurring growth. Note that Florida and Pennsylvania are medical markets only. On a daily basis, sequential gains declined in both markets. Year-over-year growth was negative in both markets and increased sharply in only one country. We warned of a potential slowdown in Florida despite strong dispensary and unit volume growth due to competitive pressure.

For readers interested in a deeper look hemp markets in these fifteen states and more, including segmentation by additional product categories, brand and product details, longer history and segmentation by product attributes, learn how BDSA Solutions can give you access to actionable data and analytics.

In this article.

Arizona, bdsa, California, cannabis data analysis, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oregon, Pennsylvania

American Cannabis News

Trulieve Q4 Revenue Falls 3% – New Cannabis Ventures

Published

5 days ago

March 1, 2026

admin

On February 26, 2026 at 6:29 am

Published by NCV Newswire

Trulieve reports 2025 Q4 and full-year results with 60% gross margin and record cash flow generation

Full year revenue of $1.2 billion with a gross margin of 60%
2025 record cash flow from operations of $273 million and free cash flow of $229 million*
A record 50.1 million branded products sold in 2025, up 5% from last year

TALLAHASSEE, Fla., Feb. 26, 2026 /PRNewswire/ — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “The Company”), the leading and top performing cannabis company in the United States, today announced its results for the fourth quarter and full year ended December 31, 2025. Numbers may not add up perfectly due to rounding.

2025 Full Year Financial and Operating Highlights*

Revenue is $1.2 billion with 94% of revenue coming from retail.
Achieved 60% gross margin, with GAAP gross profit of $711 million.
A net loss attributable to common stockholders of $116 million was reported. Adjusted net loss of $27 million excludes non-recurring charges, asset impairments, disposals and discontinued operations.
Achieved record adjusted EBITDA of $427 million*, or 36% of revenue, up $7 million, or 2%, from 2024.
Generated record cash flow from operations of $273 million and free cash flow of $229 million*.
The cash amount at the end of the year was 256 million dollars.
Repaid $368 million of senior secured notes and repaid $15.8 million of mortgages in 2026.
Private placement of $140 million of senior secured notes due 2030.
Conditional approval granted for a Distributorship license under the Texas Compassionate Use Program.
Grown the rewards program to 915,000 members as of December 31, 2025.
11 dispensaries were added in 2025, with 233 retail locations nationwide at the end of the year.

_{*See “Non-GAAP Financial Measures” below for additional information and reconciliations to GAAP for all non-GAAP measures.}

Q4 2025 Financial and Operating Highlights*

Revenue was $293 million, with 93% of revenue coming from retail.
Achieved 60% gross margin, with GAAP gross profit of $175 million.
A net loss attributable to common stockholders of $43 million was reported. Adjusted net loss of $3 million excludes non-recurring charges, asset impairments, disposals and discontinued operations.
Achieved adjusted EBITDA of $105 million* or 36% of revenue.
Cash flow from operations of $59 million and free cash flow of $56 million*.
A new mobile app serving Florida customers has been released, enabling patients to browse and reserve products, view promotions and check reward status in a seamless digital experience.
Opened one dispensary in Findlay, Ohio.

_{*See “Non-GAAP Financial Measures” below for additional information and reconciliations to GAAP for all non-GAAP measures.}

Recent developments

Opened one dispensary in Fort Myers, Florida.
Closed second tranche of $60 million private placement of senior secured notes due 2030.
There are currently 234 retail dispensaries and more than four million square feet of processing and processing capacity in the United States.

Management Commentary

“We finished the year strong, winning a conditional license in Texas and repositioning our debt,” said Trulieve CEO Kim Rivers. “With a re-planning on the horizon, Trulieve is driving its momentum through 2026, prioritizing expanded reach, loyal customers, branded products and growth initiatives.”

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and, however, is not automated. Got a secret news tip? Get in touch.