amortization 14,932 14,930 15,297
Interest expense, net 15,016 13,813 11,764
Income tax expense
(benefit) 19,016 10,238 (5,746)
------ --- ------- --------
EBITDA (Non-GAAP) $ 41,270 $(12,198) $ (92,130)
------ --- ------- --------
Other expense
(income), net 5 59,508 (329)
Fair value mark-up
for acquired
inventory 123 -- --
Adjustments for
acquisition and
other non-core
costs 4,759 3,129 7,942
Impairment loss 2,320 -- 129,491
Share-based
compensation 2,791 3,471 4,072
------ --- ------- --------
Adjusted EBITDA
(Non-GAAP) $ 51,268 $ 53,910 $ 49,046
====== === ======= ========
Adjusted EBITDA %
(Non-GAAP) 28.5% 29.2% 25.7%
(1) Net loss includes amounts attributable to non-controlling
interests.
Cresco Labs Inc.
Unaudited Summarized Consolidated Statements of Cash Flows
For the Three Months Ended September 30, 2024, June 30, 2024 and
September 30, 2023
For the Three Months Ended
----------------------------------------------
September 30, June 30, September 30,
($ in thousands) 2024 2024 2023
----------------- --------------- --------- ------------------
Net cash provided
by operating
activities $ 49,363 $ 17,160 $ 40,622
Net cash used in
investing
activities (6,269) (10,270) (12,476)
Net cash (used in)
provided by
financing
activities (2,464) (15,831) 10,052
Effect of foreign
currency exchange
rate changes on
cash and cash
equivalents (25) (10) 7
---------- ------- -----------
Net change in cash
and cash
equivalents and
restricted cash $ 40,605 $ (8,951) $ 38,205
---------- ------- -----------
Cash and cash
equivalents and
restricted cash,
beginning of
period 119,201 128,152 74,811
---------- ------- -----------
Cash and cash
equivalents and
restricted cash,
end of period $ 159,806 $119,201 $ 113,016
========== ======= ===========
Cresco Labs Inc.
Unaudited Reconciliation of Operating Cash Flow to Free Cash Flow
(Non-GAAP)
For the Three Months Ended September 30, 2024, June 30, 2024 and
September 30, 2023
For the Three Months Ended
----------------------------------------------
September 30, June 30, September 30,
($ in thousands) 2024 2024 2023
----------------- ---------------- --------- -----------------
Net cash provided
by operating
activities $ 49,363 $ 17,160 $ 40,622
Purchases of
property and
equipment (6,072) (6,434) (12,452)
Proceeds from
tenant
improvement
allowances 32 106 733
--- ---------- ------- ----------
Free Cash Flow
(Non-GAAP) $ 43,323 $ 10,832 $ 28,903
=== ========== ======= ==========
View source version on businesswire.com: https://www.businesswire.com/news/home/20241108779763/en/
CONTACT: Media
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
312-953-2767
Investors
TJ Cole, Cresco Labs
SVP, Corporate Development & Investor Relations
investors@crescolabs.com
For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com
(END) Dow Jones Newswires
November 08, 2024 07:00 ET (12:00 GMT)
Comments