Second quarter 2026 net revenue of $340 million
Second quarter 2026 International revenue of $51 million
Second quarter 2026 gross profit margin of 50%
Second quarter net income of $12 million
Second quarter adjusted EBITDA of $70 million
STAMFORD, Conn., Aug. 5, 2026 /PRNewswire/ -- Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today reported its financial and operating results for the second quarter ended June 30, 2026. All financial information is reported in accordance with U.S. generally accepted accounting principles ("U.S. GAAP" or "GAAP") and is provided in U.S. dollars unless otherwise indicated.
Chairman and CEO Boris Jordan said, "Our second quarter results reinforce that our 'Built for Growth' strategy, a disciplined framework focused on customer centricity, brand building, and operational excellence is gaining traction across the business. Second quarter revenue of $340 million grew 10% compared to last year, bolstered by both our domestic and international segments that grew 7% and 26%, respectively. Our U.S. business has clearly regained momentum. This was our second consecutive quarter of domestic year-over-year growth, and an important proof point that our reset is taking hold in a durable way. Gross margin was 50% and adjusted EBITDA was $70 million, representing a 21% margin. Net income from continuing operations was $12.5 million and we ended the quarter with $107 million in cash on the balance sheet."
Mr. Jordan continued, "We have a strong, cohesive team aligned around one common goal: making Curaleaf the global leader in cannabis. While there is still work ahead and significant opportunity to capture, we are firmly on the right path -- with the team, strategy, and operating discipline to lead the next phase of cannabis."
Second Quarter 2026 Financial Highlights
-- Net revenue of 340.1 million, a year-over-year increase of 10% compared
to Q2 2025 net revenue of 310.6 million. Sequentially, net revenue
increased 5% compared to Q1 2025 net revenue of $324.2 million
-- Gross profit of 169.9 million and gross profit margin of 50%, an increase
of 70 basis points year-over-year
-- Net income attributable to Curaleaf Holdings, Inc. from continuing
operations of 12.5 million or net income per share from continuing
operations of $0.05
-- Adjusted EBITDA(1) of 70.1 million and adjusted EBITDA margin([1]) of
20.6%, a 120 basis point decrease year-over-year
-- Total cash and cash equivalents at quarter end totaled $107.0 million
Six Months Ended June 30, 2026 Financial Highlights
-- Net revenue of $664.3 million, a year-over-year increase of 8% compared
to Q2 2025 net revenue of $617.2 million.
-- Gross profit of $327.2 million and gross margin of 49%, a decrease of 80
basis points year-over-year
-- Net income attributable to Curaleaf Holdings, Inc. from continuing
operations of $82.6 million or net income per share from continuing
operations of $0.32
-- Adjusted EBITDA(1) of $133.5 million and adjusted EBITDA margin of 20.1%,
a 100 basis point decrease year-over- year
-- Retired and repurchased a total of 1.01 million shares for a total value
of $7.4 million
Second Quarter 2026 Operational Highlights
-- Expanded retail footprint in Florida to 73 with new dispensaries opening
in Jacksonville Beach and Fernandina Beach bringing the nationwide
footprint of operated and managed dispensaries to 174
-- Launched Dark Heart, the Company's ultra-premium flower brand, across 11
states to strong consumer reception
-- Completed the buyout of the remaining 45% equity interest in
Four20 Pharma, the Company's German subsidiary, increasing ownership of
Curaleaf International to 100%
-- Applied to register all our medical cultivation, processing, and
dispensing locations with the DEA
-- Appointed Torsten Greif, co-founder and managing director of Four 20
Pharma, and Faith Charles, partner at Thompson Hine LLP, to Curaleaf's
Board of Directors
Post Second Quarter 2026 Operational Highlights
-- Curaleaf Spain was the first company to receive approval for two cannabis
medicines
-- Opened 74th and 75th dispensaries in Edgewater and Boynton Beach, Florida
bringing the total operated and managed retail footprint to 176
-- Began offering trading in listed options on TSX listed CURA shares on
Montreal Exchange
_________________________
((1) () Adjusted EBITDA, adjusted gross profit and free cash flow are
non-GAAP financial measures, and adjusted EBITDA margin and adjusted
gross profit margin are non-GAAP financial ratios, in each case
without a standardized definition under U.S. GAAP and which may not
be comparable to similar measures used by other issuers. See
"Non-GAAP Financial Performance Measures" below for definitions and
more information regarding Curaleaf's use of non-GAAP financial
measures and non-GAAP financial ratios. See "Reconciliation of
Non-GAAP financial measures" below for a reconciliation of each
non-GAAP financial measure used in this press release from the most
directly comparable U.S. GAAP financial measure.
Revenues, net by Segment
($ thousands)
Three Months Ended
-------------------------------------------------------------------
June 30, 2026 March 31, 2026 June 30, 2025
--------------------- --------------------- ---------------------
Domestic:
Retail revenue $ 224,378 $ 215,223 $ 216,384
Wholesale
revenue 64,046 61,516 53,207
Management fee
income 271 248 86
--------------------- --------------------- ---------------------
Total
revenues, net
- Domestic $ 288,695 $ 276,987 $ 269,677
===================== ===================== =====================
Three Months Ended
-------------------------------------------------------------------
June 30, 2026 March 31, 2026 June 30, 2025
--------------------- --------------------- ---------------------
International:
Retail revenue $ 16,353 $ 15,886 $ 12,929
Wholesale
revenue 31,947 28,285 25,970
Management fee
income 3,104 3,073 2,010
--------------------- --------------------- ---------------------
Total
revenues, net
-
International $ 51,404 $ 47,244 $ 40,909
===================== ===================== =====================
Six months ended June 30,
--------------------------------------------
2026 2025
--------------------- ---------------------
Domestic:
Retail revenue $ 439,601 $ 436,028
Wholesale revenue 125,562 105,030
Management fee income 519 322
--------------------- ---------------------
Total revenues, net -
Domestic $ 565,682 $ 541,380
===================== =====================
Six months ended June 30,
--------------------------------------------
2026 2025
--------------------- ---------------------
International:
Retail revenue $ 32,238 $ 23,988
Wholesale revenue 60,233 48,427
Management fee income 6,177 3,416
--------------------- ---------------------
Total revenues, net -
International $ 98,648 $ 75,831
===================== =====================
Balance Sheet and Cash Flow
As of June 30, 2026, the Company had $107.0 million of cash and $611.5 million of outstanding debt, net of unamortized debt discounts and deferred financing fees.
During the six months ended June 30, 2026, Curaleaf invested $32.9 million in capital expenditures, focused on facility upgrades, automation and selective retail expansion in strategic markets.
Shares Outstanding
The Company's basic weighted average shares outstanding was 263,067,698 and 252,423,544 for the second quarter of 2026 and 2025, respectively.
The Company's basic weighted average shares outstanding was 260,782,402 and 251,912,438 for the six months ended June 30, 2026 and 2025, respectively.
Conference Call Information
The Company will host a conference call and audio webcast for investors and analysts on Wednesday, August 5, 2026 at 5:00 P.M. ET to discuss Q2 2026 earnings results. The call can be accessed by dialing 1-844-512-2926 in North America or internationally at 1-412-317-6300. The conference pin # is 5908337.
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