• Q4 2025 net income of $333 million
• Q4 2025 international revenue: $51 million;
• Q4 2025 Gross Margin 49%
• Full year operating and free cash flows from continuing operations
• $152 million and $89 million, respectively

STAMFORD, Conn., Feb. 26, 2026 /PRNewswire/ — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international supplier of consumer cannabis products, today reported its financial and operating results for the fourth quarter and full year ended December 31, 2025. All financial information is presented in accordance with US generally accepted accounting principles” or “USGAAP” and “other USGAAP principles” are indicated.

Curaleaf President and CEO Boris Jordan said: “We closed 2025 with clear momentum, delivering fourth-quarter revenue of $333 million. Revenue increased 5% sequentially and 2% year-over-year, driven by a broad-based return to growth in nearly all of our domestic markets, despite our robust international $1 closed environment. Fourth-quarter revenue, representing 10% sequential growth and 65% year-over-year revenue growth, expanded to 49%, up 20 basis points year-over-year, as benefits from increased productivity at our growing facilities outweighed price compression.

For the year, revenue came in at $1.27 billion, with adjusted gross margin of 50% and adjusted EBITDA of $275 million, or 22% of revenue. We generated $152 million in operating cash flow and $89 million in free cash flow from continuing operations, while ending the year with $102 million in cash on the balance sheet. These results were achieved despite double-digit price compression for the third year in a row, highlighting the strength, discipline and flexibility of our operating model and the success of our Back to Our Roots programme.”

Mr. Jordan continued. “With our $500 million debt offering and Back to Our Roots plan now complete, we have re-founded our business and are transitioning from stabilization to acceleration with our Built for Growth strategy. Using the platform, we have enhanced: improved processing economy, more stringent commercial position, innovation discipline, to improve the brand. sustained organic growth augmented by opportunistic acquisitions”.

Financial highlights for the fourth quarter of 2025

Net income was $333.1 million, up 2% year over year from $327.9 million in Q4 2024. Subsequently, net income increased by 5% in 2025. compared to the third quarter: 317.9 million dollars.
Gross profit was $161.8 million and gross profit margin was 49%, up 60 basis points year-over-year.
Adjusted gross profit¹ of $161.9 million and adjusted gross profit margin¹ of 49%, up 20 basis points year over year
Net loss attributable to Curaleaf Holdings, Inc. from continuing operations of $49.3 million, or $0.06 per share from continuing operations.
Adjusted net loss¹ from continuing operations of $39.5 million or adjusted net loss¹ from continuing operations of $0.05 per share
Adjusted EBITDA¹ of $69.0 million and Adjusted EBITDA margin¹ of 20.7%, down 250 basis points year over year.
Cash at the end of the quarter was $101.6 million
Operating and free cash flows were $42 million and $25 million, respectively

Financial highlights for the full year 2025

Net income: $1,268.1 million
International revenue is $172.5 million, up 63 percent from 2024’s $105.6 million.
Gross profit $631.0 million and gross margin 50%
Adjusted gross profit¹ $632.5 million and adjusted gross profit margin¹ 50%
Operating cash flow from continuing operations of $152.0 million and free cash flow from continuing operations of $89.3 million.
Net loss from continuing operations was $201.9 million, or $0.26 per share.
Adjusted net loss¹ from continuing operations of $175.9 million, or adjusted net loss per share of $0.23 from continuing operations
Adjusted EBITDA¹ of $274.7 million and adjusted EBITDA margin of 21.7%

_{¹Adjusted EBITDA, adjusted net income (loss), adjusted gross profit and free cash flow are non-GAAP financial measures, and adjusted EBITDA margin, adjusted net income (loss) per share and adjusted gross profit margin are non-GAAP financial ratios, which in each case may not be used by US GAAP and other standards. See “Non-GAAP Financial Performance Measures” below for definitions and additional information regarding Curaleaf’s use of non-GAAP financial measures and non-GAAP financial ratios. See “Reconciliation of Non-GAAP Financial Measures” below for a reconciliation of each non-GAAP financial measure used in this press release to the most directly comparable US GAAP financial measure.}

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 automated in any way. Got a secret news tip? Get in touch.

Curaleaf announces the closing of a private placement of $500 million of 11.5% senior secured notes due 2029.

STAMFORD, Conn., Feb. 19, 2026. /PRNewswire/ — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international supplier of consumer cannabis products, today announced that it has closed a previously announced private placement (the “Offering”) of $500 million in aggregate principal amount of 11.5% due February 2218 (unsecured due 2218). Redemption of $475 million of its previously outstanding notes due December 15, 2026. The Company intends to use the net proceeds from the Offering to provide growth capital to support global growth initiatives and to pay transaction fees and expenses.

The non-dilutive notes, issued at 100% par value, are senior secured obligations of the Company, payable in equal semi-annual installments until maturity, unless earlier redeemed or purchased. The Notes are governed by a trust indenture executed at the closing of the Offering, which permits additional issuances subject to leverage covenants and other conditions, and up to $100 million in senior bank financing.

“The successful closing of this landmark private placement provides a strong endorsement of Curaleaf’s strategy and long-term vision. I am exceptionally proud of our team for delivering the largest bond offering completed in the cannabis industry, expanding the world of institutional investors and strengthening Curaleaf’s leadership position in the industry,” said Chair BorisCE. With an extended runway to 2029 and enhanced capital flexibility, we are well positioned to accelerate our global expansion and capture key strategic opportunities in the international hemp market.

The notes have been offered on a private placement basis in certain Canadian provinces and territories pursuant to applicable exemptions from the prospectus requirements of Canadian securities laws. The Notes were also sold in the United States for the account or benefit of “US persons” (as defined in the United States Securities Act of 1933, as amended (the “US Securities Act”)), on a private placement basis to “qualified institutional buyers” and “accredited investors” pursuant to an exemption from the requirements of the US Securities Registration Act. Under Canadian securities law, the issued securities are subject to a customary four-month hold period.

Seaport Global Securities, LLC acted as lead underwriting agent and ATB Cormark Capital Markets (the “Agents”) acted as co-underwriting agent for the Notes in the United States and Canada, respectively.

No securities regulatory authority has approved or disapproved the content of this news release. The Notes have not been and will not be registered under the US Securities Act or state securities laws. Accordingly, the notes have not been offered or sold in the United States or for the account or benefit of “US persons” except as registered under the US Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the US Securities Act and applicable state securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities of the Company in any jurisdiction where such offer, solicitation or sale would be illegal.

About Curaleaf Holdings

Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading international provider of consumer cannabis products with a mission to improve lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, Find and Anthem, provide industry-leading service, product selection and access to the medical and adult use markets. Curaleaf International is powered by a strong presence at all stages of the supply chain. Its unique distribution network across Europe, Canada and Australasia combines advanced science and research with advanced cultivation, extraction and manufacturing. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX under the symbol CURLF. For more information, visit https://ir.curaleaf.com.

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.

It Public Hemp Company Revenue and Earnings Trackingrun by New Cannabis Ventures, ranks the leading cannabis companies. This update is our first since mid-August when we previewed Q3 reports.

Tracking rules

This data-driven, fact-based search engine will be continually updated based on new financial filings so readers can stay up-to-date. Companies must file with the SEC or SEDAR and be current to be considered for inclusion. When we launched this resource in May 2019, companies with more than $2.5 million in quarterly revenue qualified. As the industry has grown and as more companies have gone public, we have raised the minimum several times, including $5 million in October 2019, $7.5 million in June 2020, up to $10 million in November 2020, $12.5 million in August 2021, $12.5 million in August 2021, and $202 in September 2021. million dollars. hemp industry, we raised the minimum again in May 2024. The senior list has a minimum of US$50 million (C$68.3 million) and the junior list now has a minimum of US$25 million (C$34.2 million).

Note on adjusted operating income

In May 2019, we added an additional measure, Adjusted Operating Income, which we detailed in our newsletter. The calculation takes reported operating income and adjusts it for any changes in the fair value of biological assets required under IFRS accounting. We believe this adjustment improves comparability between companies under IFRS and GAAP accounting. We note that operating income can often include one-time items such as stock compensation, inventory write-offs or public listing costs, and we encourage readers to understand how these non-cash items may impact quarterly financials. Many companies have moved from IFRS to US GAAP accounting, which has reduced our need to make adjustments. Please note that our rating only includes actual reported income and non pro forma income. We also note that companies with non-hemp operations must provide segment-level financial statements detailing not only revenue but also operating profit in order for their operating profit to be included in the tracking. Currently, Aurora Cannabis (NASDAQ: ACB ) (TSX: ACB ), Jazz Pharma (NASDAQ: JAZZ ) and Tilray (TSX: TLRY ) (NASDAQ: TLRY ) do not provide this information.

Tracker inclusion updates

At the time of our last update on October 21st, 19 companies were eligible for inclusion on the senior lists, including 14 in USD and 5 in Canadian currency, while there were 12 companies on the junior lists. Now, 15 companies denominated in US dollars and 4 denominated in Canadian dollars qualify for the senior lists, for a total of 19 now. The junior list includes 9 companies denominated in US dollars and 2 in Canadian dollars. Tracking public cannabis company revenue and earnings on a combined basis now includes 30 companies. American Junior List lost Scotts Miracle-Gro exits, including Hawthorne Gardening, when it reported its fiscal quarter due to its expected divestment. In Canada, Organigram (NASDAQ: OGI ) (TSX: OGI ) moved from the Senior List to the Junior List.

Companies that have reported since mid-November are included

Many of these companies are in December year-end and year-end reporting for them will begin very soon. There are several companies that have reported since the third quarter reports were released in November.

Senior and Junior – US Dollar Report

Neither company has yet reported Q3, but a flurry of updates begins next week. Tilray brands (NASDAQ: TLRY ) (TSX: TLRY ) reported its fiscal third quarter in early January. The diversified company grew its cannabis business 3% year over year as it grew 5% sequentially.

Several of the Big 5 MSOs have scheduled calls for their Q4 financial reports, although GTI has changed its policy and will not host any for now. Here is the current outlook of all of them.

• Curaleaf (OTC: CURLF ) (TSX: CURA ) – revenue is expected to decline 1% year-over-year to $328.3 million, with adjusted EBITDA of $66.9 million, a 12% decline.
• Green Thumb Industries (OTC: GTBIF ) (CSE: GTII ) – revenue is expected to increase 1% year over year to $296.1 million and adjusted EBITDA is expected to decline 20% to $78.6 million.
• Trulieve (OTC: TCNNF ) (CSE: TRUL ) – Revenue is expected to decline 1% year-over-year to $296.5 million and adjusted EBITDA is expected to decline 8% to $95.9 million.
• Verano Holdings (OTC: VRNO ) (NEO: VRNO ) – revenue is expected to decline 6% to $205.9 million and adjusted EBITDA is expected to decline 10% to $56.7 million.
• Cresco Labs (OTC: CRLBF ) (CSE: CL ) – Revenue is expected to decline 9% to $160.9 million and adjusted EBITDA is expected to decline 12% to $36.3 million.

Senior and Junior – Canadian Dollar Report

Since the November 3rd quarter reports, High Tide (NASDAQ: HITI ) (TSXV: HITI ), Aurora Cannabis (NASDAQ: ACB ) (TSX: ACB ), Canopy Growth (NASDAQ: CGC ) (TSX: WEED ) and Organigram Global (NASDAQ: OGITS ) have filed to list (NASDAQ: OGITS ). Revenue grew sequentially for each of them except Organigram.

One of Canada’s senior listed members, SNDL, has yet to schedule its quarterly call.

The Public Cannabis Company Earnings Tracker by New Cannabis Ventures is not a recommendation of any company, and you should not use it as investment advice. A tilde next to a date means an approximate date. All calculations are derived from SEC or SEDAR filings. Any questions or licensing inquiries please contact us.

Did you miss something? Catch them all! Cannabis Revenue Tracking Updates.

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