Curaleaf Announces Strong Preliminary Unaudited Fourth Quarter 2025 Results

Executive Summary

• Curaleaf reported preliminary unaudited Q4 2025 net revenue of at least $330 million, a ~4% sequential increase and ~1% year‑over‑year growth.
• Adjusted gross profit margin for Q4 2025 is projected at 48.5% (same as Q4 2024) with full‑year 2025 adjusted margin expected around 50%.
• The company announced the discontinuation of its hemp business and an exit from Missouri, together representing roughly $2 million in recent revenue, to focus on core operations and upcoming debt refinancing.

Key Details

• Revenue Guidance: Q4 2025 net revenue ≥ $330 M (vs. $317.8 M Q3 2025; vs. $327.8 M Q4 2024).
• Margin Outlook: Adjusted gross profit margin Q4 2025 ≈ 48.5%; full‑year 2025 adjusted margin ≈ 50%.
• Business Discontinuations:
• Hemp division to be wound down due to new federal THC limits (≤0.3%).
• Missouri operations to cease; both units contributed ~$2 M in Q3/Q4 2025 revenue.
• Strategic Rationale: Refocus on core cannabis brands and prepare for refinancing of senior secured notes due Dec 2026.
• Future Disclosure Timeline: Full audited Q4 2025 and FY 2025 results to be released early March 2026, with an earnings call/webcast thereafter (details forthcoming).
• Management Quote: CEO Boris Jordan highlighted the “Return to Our Roots” strategy delivering solid growth, strong margins, and a reset initiative positioning the company for momentum in 2026.

Notable Quotes

“Our preliminary Q4 results demonstrate that the ‘Return to Our Roots’ strategy has delivered clear impact, with solid revenue growth and sustained strong margins… we remain focused on maintaining a robust balance sheet while completing the refinancing of our senior secured notes due December 2026.” – Boris Jordan, Chairman & CEO, Curaleaf

All non‑material boilerplate, forward‑looking disclaimer text, and contact information have been omitted for clarity.