Curaleaf Holdings (OTC) ( (CURLF) ) has released its Q3 earnings. Here is a breakdown of the information Curaleaf Holdings (OTC) presented to its investors.
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Curaleaf Holdings, Inc., a leading international provider of cannabis consumer products, is recognized for its extensive operations spanning both medical and adult-use markets across the globe. The company has recently reported its financial results for the third quarter of 2024, highlighting a slight decline in revenue but notable growth in international markets.
In the third quarter of 2024, Curaleaf reported a revenue of $331 million, marking a 1% decrease from the previous year. Despite this decline, the company achieved an adjusted gross margin of 49% and maintained an adjusted EBITDA of $75 million, reflecting stability in its operational efficiency. A standout performance was observed in Curaleaf’s international segment, which saw an 82% increase in revenue year-over-year.
Key financial metrics from the report include a net loss of $44 million from continuing operations and a free cash flow of $14.5 million. Curaleaf also secured a $40 million revolving credit facility at a 7.99% interest rate, indicating a proactive approach to financial management. The company expanded its retail presence by opening new dispensaries in key markets like New York and Florida, and initiated adult-use sales in Ohio.
Looking ahead, Curaleaf is focused on sustainable and profitable growth by leveraging its international presence to diversify revenue streams. The company’s management remains optimistic about maintaining market share in challenging regions while exploring strategic growth opportunities globally.
