Curaleaf Holdings (OTC) ( (CURLF) ) has released its Q4 earnings. Here is a breakdown of the information Curaleaf Holdings (OTC) presented to its investors.
Curaleaf Holdings, Inc. is a leading international provider of consumer products in the cannabis industry, known for its extensive product range and innovative approaches in both medical and adult-use markets. The company recently released its financial results for the fourth quarter and full year of 2024, highlighting a total revenue of $331 million for the quarter and $1.34 billion for the year, with a focus on organic growth and strategic initiatives.
Curaleaf’s fourth-quarter revenue remained flat sequentially, with a slight year-over-year decrease of 4%. The adjusted gross margin improved to 48%, and the adjusted EBITDA was reported at $76 million, reflecting a 23% margin. The company ended the quarter with $107 million in cash and generated $163 million in operating cash flow for the year. Notably, international revenue saw a significant increase of 73% year-over-year, driven by strong performance in markets like Germany and strategic expansions in the U.S.
Key financial metrics for the year included a gross profit of $639.2 million and a net loss from continuing operations of $216.2 million. The adjusted EBITDA for the year was $300.8 million, with a margin of 22%. Operational highlights included the opening of new dispensaries in Florida, the introduction of products in the German market, and securing a $40 million credit facility, marking significant milestones for the company.
Looking ahead, Curaleaf’s management is optimistic about the future, focusing on its ‘Return to our ROOTS’ initiative aimed at driving organic growth, optimizing margins, and reducing debt. The company plans to leverage its innovation pipeline and expand its leadership position in the cannabis industry, with promising opportunities anticipated in 2025.
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