Curaleaf Reports Second Quarter 2026 Results: Continued Growth, Margin Strength, and Profitability
Rhea-AI Summary
Curaleaf (TSX: CURA, OTCQX: CURLF) reported second quarter 2026 net revenue of $340.1 million, up 10% year-over-year and 5% sequentially. Domestic revenue was $288.7 million and international revenue $51.4 million. Gross profit reached $169.9 million with a 50% gross margin, up 70 basis points year-over-year.
Net income from continuing operations attributable to Curaleaf was $12.5 million, or $0.05 per share. Adjusted EBITDA was $70.1 million, with a 20.6% margin, down 120 basis points year-over-year. For the first half of 2026, net revenue was $664.3 million (+8% year-over-year) and gross profit $327.2 million (49% margin). The company ended the quarter with $107.0 million in cash and $611.5 million of outstanding debt, invested $32.9 million in capex, and repurchased 1.01 million shares for $7.4 million. Operationally, Curaleaf expanded its Florida retail footprint, launched its Dark Heart brand in 11 states, completed the buyout of the remaining 45% of Four20 Pharma, and noted post-quarter approvals for two cannabis medicines in Spain.
Positive
- Q2 2026 net revenue $340.1 million, up 10% year-over-year
- International Q2 revenue $51.4 million, versus $40.9 million in Q2 2025
- Q2 2026 gross margin 50.0%, up 70 basis points year-over-year
- Q2 2026 adjusted EBITDA $70.1 million, above $67.9 million in Q2 2025
- Six-month 2026 net revenue $664.3 million, up 8% year-over-year
- Share repurchases 1.01 million shares for $7.4 million in six months
Negative
- Q2 2026 adjusted EBITDA margin 20.6%, down 120 basis points year-over-year
- Six-month 2026 gross margin 49.0%, down 80 basis points year-over-year
- Outstanding debt $611.5 million versus cash of $107.0 million at June 30, 2026
- Basic weighted average shares 263.1 million in Q2 2026 vs. 252.4 million in Q2 2025
News Explained
Six-month free cash flow was $17,390 thousand after capital spending; quarter-end cash was $107.0 million.
Curaleaf has completed reporting its quarter ended
Basic weighted-average shares were 263,067,698 in the second quarter, versus 252,423,544 in the year-earlier quarter.
Curaleaf defines free cash flow from operations as operating cash from continuing operations, net of purchases and disposals of property, plant and equipment.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 05 | Q1 earnings | Positive | +9.4% | Revenue growth, profitability, and Four20 Pharma buyout accompanied the quarterly results. |
| Feb 26 | Q4 earnings | Positive | -4.2% | Quarterly revenue growth and margin expansion accompanied full-year financial results. |
| Jan 20 | Preliminary Q4 earnings | Positive | -6.8% | Preliminary revenue growth and expected margins preceded audited fourth-quarter results. |
| Nov 05 | Q3 earnings | Positive | -14.7% | Revenue growth, cash generation, and international expansion highlighted third-quarter performance. |
| Aug 06 | Q2 earnings | Positive | +6.5% | Margin expansion, international growth, and a Turkey license accompanied second-quarter results. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings reactions were mixed: three of five prior earnings events had negative 24-hour reactions, and the average move was -1.95%.
Key Terms
gaap financial
adjusted ebitda financial
non-gaap financial measures financial
free cash flow from operations financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second quarter 2026 net revenue of
Second quarter 2026 International revenue of
Second quarter 2026 gross profit margin of
Second quarter net income of
Second quarter adjusted EBITDA of
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
Mr.
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 increased5% 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 8% compared to Q2 2025 net revenue of$617.2 million - Gross profit of
$327.2 million 49% , a decrease of 80 basis points year-over-year - Net income attributable to Curaleaf Holdings, Inc. from continuing operations of
$82.6 $0.32 - Adjusted EBITDA(1) of
$133.5 million 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
$7.4 million
Second Quarter 2026 Operational Highlights
- Expanded retail footprint in
Florida to 73 with new dispensaries opening inJacksonville Beach andFernandina Beach bringing the nationwide footprint of operated and managed dispensaries to 174 - Launched Dark Heart, the Company's ultra-premium flower brand, across 11 states to strong consumer reception
- Completed the buyout of the remaining
45% equity interest in Four20 Pharma, the Company's German subsidiary, increasing ownership of Curaleaf International to100% - Applied to register all our medical cultivation, processing, and dispensing locations with the DEA
- Appointed Torsten Greif, co-founder and managing director of Four 20 Pharma, and Faith Charles, partner at Thompson Hine LLP, to Curaleaf's Board of Directors
Post Second Quarter 2026 Operational Highlights
- Curaleaf Spain was the first company to receive approval for two cannabis medicines
- Opened 74th and 75th dispensaries in
Edgewater andBoynton Beach, Florida bringing the total operated and managed retail footprint to 176 - Began offering trading in listed options on TSX listed CURA shares on Montreal Exchange
_________________________ | |
(1) | Adjusted EBITDA, adjusted gross profit and free cash flow are non-GAAP financial measures, and adjusted EBITDA margin and adjusted gross profit margin are non-GAAP financial ratios, in each case without a standardized definition under |
Revenues, net by Segment | |||||
($ 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
During the six months ended June 30, 2026, Curaleaf invested
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
A replay of the conference call can be accessed at 1-855-669-9658 in
A webcast of the call can be accessed on the investor relations section of the Curaleaf website at ir.curaleaf.com. The teleconference will be available for replay starting at approximately 7:00 P.M. ET on Wednesday, August 5, 2026 and will end at 11:59 P.M. ET on August 11, 2026.
Non-GAAP Financial and Performance Measures
Curaleaf reports its financial results in accordance with
Curaleaf defines these non-GAAP measures as follows:
- Adjusted gross profit: gross profit net of related adjustments.
- Adjusted gross profit margin: adjusted gross profit divided by total revenues, net.
- Adjusted EBITDA: income (loss) before interest, taxes, depreciation and amortization, adjusted for share-based compensation expense and other adjustments related to restructuring costs, adult use campaign and political initiatives, as well as acquisition, transaction and other non-recurring costs.
- Adjusted EBITDA margin: adjusted EBITDA divided by total revenues, net.
- Free cash flow from operations: net cash provided by operating activities from continuing operations, net of purchases and disposals of property, plant and equipment for continuing operations.
Management believes these measures (i) provide investors with additional insight into Curaleaf's financial strength and underlying performance, (ii) align external reporting with how management evaluates results and (iii) facilitate comparisons with other issuers. These measures should not be considered in isolation from, or as a substitute for,
Reconciliation of Non-GAAP financial measures | |||||
Adjusted gross profit from continuing operations | |||||
($ thousands) | |||||
Three Months Ended | |||||
June 30, 2026 | March 31, 2026 | June 30, 2025 | |||
Gross profit from continuing operations | $ 169,914 | $ 157,290 | $ 153,084 | ||
Other adjustments(1) | 850 | (125) | 980 | ||
Adjusted gross profit from continuing operations(2) | $ 170,764 | $ 157,165 | $ 154,064 | ||
Adjusted gross profit margin from | 50.2 % | 48.5 % | 49.6 % | ||
____________________ |
(1) Other adjustments for the three months ended June 30, 2026 primarily include restructuring costs of |
(2) Represents a Non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" section of this press release for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Gross profit from continuing operations, the most comparable GAAP measure, to Adjusted gross profit from continuing operations, a non-GAAP measure. |
Gross profit from continuing operations was
Six months ended June 30, | |||
2026 | 2025 | ||
Gross profit from continuing operations | $ 327,204 | $ 308,651 | |
Other adjustments(1) | 726 | 1,213 | |
Adjusted gross profit from continuing operations(2) | $ 327,930 | $ 309,864 | |
Adjusted gross profit margin from continuing operations(2) | 49.4 % | 50.2 % | |
______________________ |
(1) Other adjustments for the six months ended June 30, 2026 primarily include restructuring costs of |
(2) Represents a Non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" section of this press release for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Gross profit from continuing operations, the most comparable GAAP measure, to Adjusted gross profit from continuing operations, a non-GAAP measure. |
Gross profit from continuing operations was
Adjusted EBITDA | |||||
($ thousands) | |||||
Three Months Ended | |||||
June 30, 2026 | March 31, 2026 | June 30, 2025 | |||
Net income (loss) | $ 12,507 | $ 69,783 | $ (53,606) | ||
Net loss from discontinued operations | 31 | (293) | (5,495) | ||
Net income (loss) from continuing operations | 12,476 | 70,076 | (48,111) | ||
Interest expense, net | 27,566 | 25,315 | 25,554 | ||
(Benefit) provision for income taxes | (38,784) | (98,705) | 31,841 | ||
Depreciation and amortization(1) | 48,612 | 47,855 | 49,164 | ||
Share-based compensation | 10,271 | 9,664 | 8,477 | ||
Loss on impairment | 41 | — | (1,209) | ||
Total other income, net | 2,923 | 4,067 | (1,829) | ||
Other adjustments(2) | 7,018 | 5,141 | 3,986 | ||
Adjusted EBITDA(3) | $ 70,123 | $ 63,413 | $ 67,873 | ||
Adjusted EBITDA Margin(3) | 20.6 % | 19.6 % | 21.9 % | ||
_______________________ |
(1) Depreciation and amortization includes amounts charged to Cost of goods sold on the Statement of Operations of |
(2) Other adjustments for the three months ended June 30, 2026 primarily include restructuring costs of |
(3) Represents a Non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" section of this press release for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Net loss, the most comparable GAAP measure, to Adjusted EBITDA, a non-GAAP measure. |
Adjusted EBITDA was
Six months ended June 30, | |||
2026 | 2025 | ||
Net income (loss) | $ 82,290 | $ (113,850) | |
Net income (loss) from discontinued operations | (262) | (15,688) | |
Net income (loss) from continuing operations | 82,552 | (98,162) | |
Interest expense, net | 52,881 | 50,627 | |
Benefit (provision) for income taxes | (137,489) | 65,493 | |
Depreciation and amortization(1) | 96,467 | 97,993 | |
Share-based compensation | 19,935 | 13,101 | |
Loss on impairment | 41 | 2,486 | |
Total other income, net | 6,990 | (4,832) | |
Other adjustments(2) | 12,159 | 7,261 | |
Adjusted EBITDA(3) | $ 133,536 | $ 133,967 | |
Adjusted EBITDA Margin(3) | 20.1 % | 21.7 % | |
_____________________ |
(1) Depreciation and amortization includes amounts charged to Cost of goods sold on the Statement of Operations. |
(2) Other adjustments for the six months ended June 30, 2026 primarily include restructuring costs of |
(3) Represents a Non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" section of this press release for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Net loss, the most comparable GAAP measure, to Adjusted EBITDA, a non-GAAP measure. |
Adjusted EBITDA was
Free cash flow | |
($ thousands) | |
Six months ended | |
June 30, 2026 | |
Net cash provided by operating activities from continuing operations | $ 50,305 |
Less: Purchases of property, plant and equipment, net of disposals | (32,915) |
Free cash flow from continuing operations(1) | $ 17,390 |
_____________________ |
(1) Represents a Non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" section of this press release for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Net cash provided by operating activities from continuing operations, a GAAP measure, to Free cash flow from continuing operations, a non-GAAP measure. |
Condensed Consolidated Balance Sheets (Unaudited) | |||
($ thousands) | |||
As of | |||
June 30, 2026 | December 31, 2025 | ||
Assets | |||
Cash and cash equivalents | $ 94,588 | $ 89,213 | |
Restricted cash | $ 12,380 | $ 12,360 | |
Other current assets | 360,829 | 347,050 | |
Property, plant and equipment, net | 505,898 | 520,386 | |
Right-of-use assets, finance lease, net | 107,914 | 97,599 | |
Right-of-use assets, operating lease, net | 121,516 | 113,274 | |
Intangible assets, net | 956,074 | 1,011,115 | |
Goodwill | 633,022 | 635,117 | |
Other non-current assets | 22,136 | 19,201 | |
Total assets | $ 2,814,357 | $ 2,845,315 | |
Liabilities, Temporary equity and Shareholders' equity | |||
Total current liabilities | $ 307,113 | $ 294,314 | |
Total non-current liabilities | 1,639,784 | 1,710,720 | |
Redeemable non-controlling interest contingency | — | 83,931 | |
Total shareholders' equity | 867,460 | 756,350 | |
Total liabilities, temporary equity and shareholders' equity | $ 2,814,357 | $ 2,845,315 | |
Condensed Consolidated Statements of Operations (Unaudited) | |||||||
($ thousands, except for share and per share amounts) | |||||||
Three months ended June 30, | Six months ended June 30, | ||||||
2026 | 2025 | 2026 | 2025 | ||||
Revenues, net: | |||||||
Retail and wholesale revenues | $ 336,724 | $ 308,490 | $ 657,634 | $ 613,473 | |||
Management fee income | 3,375 | 2,096 | 6,696 | 3,738 | |||
Total revenues, net | 340,099 | 310,586 | 664,330 | 617,211 | |||
Cost of goods sold | 170,185 | 157,502 | 337,126 | 308,560 | |||
Gross profit | 169,914 | 153,084 | 327,204 | 308,651 | |||
Operating expenses: | |||||||
Selling, general and administrative | 131,677 | 111,357 | 254,547 | 222,176 | |||
Depreciation and amortization | 34,015 | 35,481 | 67,682 | 70,863 | |||
Total operating expenses | 165,692 | 146,838 | 322,229 | 293,039 | |||
Income from continuing operations | 4,222 | 6,246 | 4,975 | 15,612 | |||
Other income (expense): | |||||||
Interest income | 149 | 166 | 361 | 338 | |||
Interest expense related to notes payable and deferred consideration liabilities | (17,823) | (14,646) | (32,847) | (28,807) | |||
Interest expense related to lease liabilities and financial obligations | (9,892) | (11,074) | (20,395) | (22,158) | |||
(Loss) gain on impairment | (41) | 1,209 | (41) | (2,486) | |||
Other (expense) income, net | (2,923) | 1,829 | (6,990) | 4,832 | |||
Total other expense, net | (30,530) | (22,516) | (59,912) | (48,281) | |||
Loss before Benefit (provision) for income taxes | (26,308) | (16,270) | (54,937) | (32,669) | |||
Benefit (provision) for income taxes | 38,784 | (31,841) | 137,489 | (65,493) | |||
Net income (loss) from continuing operations | 12,476 | (48,111) | 82,552 | (98,162) | |||
Net income (loss) from discontinued operations | 31 | (5,495) | (262) | (15,688) | |||
Net income (loss) | 12,507 | (53,606) | 82,290 | (113,850) | |||
Less: Net (loss) income attributable to non- controlling interest | — | (445) | (16) | 372 | |||
Net income (loss) attributable to Curaleaf Holdings, Inc. | $ 12,507 | $ (53,161) | $ 82,306 | $ (114,222) | |||
Per share — basic: | |||||||
Net income (loss) per share from continuing operations(1) | $ 0.05 | $ (0.24) | $ 0.32 | $ (0.49) | |||
Basic weighted-average common shares outstanding | 263,067,698 | 252,423,544 | 260,782,402 | 251,912,438 | |||
Per share – diluted(1): | |||||||
Net income (loss) per share from continuing operations(1) | $ 0.05 | $ (0.24) | $ 0.31 | $ (0.49) | |||
Dilutive weighted-average common shares outstanding(2) | 270,702,440 | 252,423,544 | 268,804,422 | 251,912,438 | |||
___________________ |
(1) Certain non-controlling interests are redeemable at the option of the holders. Amounts recognized as accretion of redeemable non-controlling interests are recorded directly to shareholders' equity and reduce income available to subordinate voting shareholders in the calculation of earnings per share. The redeemable non-controlling interest was settled during the second quarter of 2026. The redeemable non-controlling interest was settled during the second quarter of 2026. The excess redemption value included in the EPS calculation for the six months ended June 30, 2026 relates to accretion recognized through the settlement date. |
(2) As a result of the Company's net loss for the three and six months ended June 30, 2025, all potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive. Accordingly, basic and diluted net loss per share are the same for each period presented. |
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLD) ("Curaleaf") is a leading global provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Anthem, Curaleaf, Dark Heart, Find, Four20 Pharma, Grassroots, Green Britannia, Huala, JAMS, Reef and Select, provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is powered by a strong presence in all stages of the supply chain. Its unique distribution network throughout Europe, Canada and Australasia brings together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLD. For more information, please visit https://ir.curaleaf.com.
Curaleaf IR X Account: https://x.com/Curaleaf_IR
Investor Relations Website: https://ir.curaleaf.com/
Contact Information:
Investor Contact:
Curaleaf Holdings, Inc.
Camilo Lyon, Chief Investment Officer
ir@curaleaf.com
Media Contact:
MATTIO Communications
MattioCuraleaf@mattio.com
Disclaimer
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian and U.S. securities laws (together, "forward-looking statements"). Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on management's current beliefs, expectations or assumptions regarding the future of the Company's business, future plans and strategies, operational results and other future conditions. In addition, management may make or approve certain statements, in future filings with applicable Canadian regulatory authorities and/or the SEC, in press releases or in presentations by representatives of the Company that are not statements of historical fact and which may also constitute forward-looking statements. All statements, other than statements of historical fact, made by management that address activities, events or developments that management expects or anticipates will or may occur in the future are forward-looking statements, including, but not limited to, statements preceded by, "followed by" or that include words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal" or the negative of those words or other similar or comparable words and includes, among others, information regarding: expectations of the effects and potential benefits of any transactions; statements relating to the Company's business, future activities and developments after the date of this press release, including such things as future business strategy, competitive strengths, goals, expansion and growth. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments. These statements speak only as of and at the date they are made and are based on information currently available and current expectations at that time.
Holders of the Company's securities are cautioned that forward-looking statements are not based on historical facts, but instead are based on reasonable assumptions and management's estimates at the time they were provided or made and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, but not limited to, risks and uncertainties relating to: the legality of cannabis in the U.S., including its classification as a controlled substance under the U.S. Federal Controlled Substances Act (the "CSA"); compliance with anti-money laundering laws and regulations; the lack of access to U.S. bankruptcy protections; financing constraints, including limited access to banking and risks associated with raising additional capital; general regulatory and legal restrictions, including limitations imposed by the TSX; potential legal, regulatory or political changes; licensing and ownership limitations; regulatory actions and approvals from the U.S. Food and Drug Administration ("FDA"), including the risk of increased FDA oversight; potential heightened scrutiny by regulators; loss of foreign private issuer status; internal control deficiencies; litigation exposure; higher compliance costs as a public company in both Canada and the U.S.; recent and proposed U.S. cannabis and hemp licensing legislation; environmental risks, including compliance with environmental regulations and unforeseen environmental liabilities; expansion into foreign jurisdictions; future acquisitions or dispositions; dependence on key suppliers and service providers; enforceability of contracts; risks associated with the Company's SVS, including resale limitations, limited liquidity for U.S. investors, market price volatility as well as significant sales of SVS; reliance on senior management and other key personnel, including challenges in recruiting and retaining such personnel; competitive pressures; risks inherent in agricultural operations; adverse publicity or shifts in consumer perception; product liability and recalls; uncertainty regarding results of future clinical research; reliance on agricultural inputs; limited market data and forecasting uncertainty, including the risk that past performance or financial projections may not be reliable indicators of future results; intellectual property risks; marketing and advertising restrictions; fraudulent or illegal activity by employees, consultants or contractors; labor risks, including potential union activity; information technology failures, cyber-attacks or security breaches; reliance on management services agreements with subsidiaries and affiliates; website accessibility and digital compliance requirements; high bonding and insurance costs; risks associated with leverage and debt management; challenges related to growth and scalability; conflicts of interest; global economic pressures, including tariffs, retaliatory measures and trade disputes; currency exchange fluctuations; risks related to the Company's business structure and securities, including the Company's status as a holding company, lack of dividend history, indebtedness and concentrated voting control; limited shareholder rights in corporate affairs; enforcement challenges against directors and officers residing outside Canada; tax risks and those risks described in Part I — Item 1A — Risk Factors in our Annual Report dated August 5, 2026 for the fiscal year ended December 31, 2025, which has been filed on the Company's SEDAR+ profile at www.sedarplus.ca and on its EDGAR profile at www.sec.gov/edgar/html), and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities.
The purpose of forward-looking statements is to provide the reader with a description of management's expectations, and such forward-looking statements may not be appropriate for any other purpose. Although management believes that the expectations reflected in such forward-looking statements are reasonable, management can give no assurance that such expectations will prove to be correct. A number of factors could cause actual events, performance or results to differ materially from what is projected in the forward-looking statements, and undue reliance should not be placed on forward-looking statements contained in this press release. Such forward-looking statements are made as of the date of this press release. Management undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Management's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Neither the Toronto Stock Exchange nor its Regulation Service Provider has reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.
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SOURCE Curaleaf Holdings, Inc.