Curaleaf Hldgs Stock Price, News & Analysis

Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) will release its fourth quarter and fiscal year financial results for 2022 on May 1, 2023, after market close. A conference call is scheduled for the same afternoon at 5:00 p.m. ET, featuring a presentation followed by a Q&A session to discuss operational highlights. The company operates in 19 states across the U.S. and runs 152 dispensaries, employing nearly 5,500 staff. Curaleaf is recognized as a leading provider in the cannabis sector, emphasizing quality and accessibility in both medical and adult-use markets.

Interested parties can access a replay of the call until May 5, 2023. For more details about Curaleaf and its offerings, visit Curaleaf's investor relations site.

Curaleaf Holdings, Inc. announced a review by its Audit Committee, leading to adjustments in revenue figures for 2021 and 2022. The adjustments indicate a 1.25% reduction in 2021 revenue and a 0.75% reduction in 2022 revenue. The company anticipates its total revenue for 2022 to be approximately $1.337 billion, with the fourth quarter expected to generate around $352 million. As a result of the review, Curaleaf's previously reported financial statements for these periods will be restated, and reliance on previously issued financial results is discouraged. The company aims to enhance internal controls and ensure accurate reporting moving forward. Curaleaf is set to file its restated financial statements by May 1, 2023.

On April 17, 2023, Curaleaf Holdings announced that the New Jersey Cannabis Regulatory Commission (CRC) reversed its prior decision and approved the renewal of Curaleaf's adult use cannabis licenses following a legal challenge. This decision came after an earlier vote on April 13, which had denied the renewals. Curaleaf's CEO, Matt Darin, expressed that this was a significant victory for the company's 500 NJ employees, confirming their compliance with CRC requirements. The CRC's prior denial was amidst recommendations for renewal from its staff, highlighting no pending violations against Curaleaf. Additionally, the company will provide further details on its labor practices to maintain compliance with New Jersey laws. Curaleaf has generated substantial tax revenues and invested over $75 million in the state's cannabis industry.

Curaleaf Holdings, Inc. (OTCQX: CURLF) announced its disappointment over the New Jersey Cannabis Regulatory Commission's decision to deny the renewal of its cultivation and retail licenses for adult-use. The CRC Board overrode its own staff's recommendation for renewal, a move that Curaleaf's Chairman, Boris Jordan, argues is unfounded as the company has never faced a violation and is in good standing with the CRC. Curaleaf aims to resolve the situation and continue operations in New Jersey. The company emphasizes its commitment to legality and compliance, indicating plans to pursue all necessary means to renew its licenses and sustain its business in the state.

Curaleaf Holdings is expanding its presence in Florida by opening its 59th and 60th dispensaries, located in Boca Raton and West Palm Beach, respectively. The Boca Raton location is now operational, while the West Palm Beach site is expected to open by the end of April 2023, pending regulatory approvals. This expansion brings Curaleaf's total dispensary count to 151 nationwide. Additionally, starting April 21, the company will introduce its Grassroots brand in Florida, known for premium cannabis flower and pre-rolls. The Grassroots products will enhance the company’s portfolio and cater to a diverse range of cannabis consumers. Curaleaf emphasizes its commitment to customer loyalty through its revamped rewards program, allowing patients to earn points on purchases at any Curaleaf dispensary nationwide.

Curaleaf Holdings has successfully completed the acquisition of Deseret Wellness, the largest cannabis retail operator in Utah, enhancing its strategic position in the state. The cash and stock transaction, valued at approximately US$20 million, adds three retail dispensaries in Park City, Provo, and Payson to Curaleaf's existing footprint, bringing its total to four in Utah and 150 nationwide. This acquisition aligns with Curaleaf's goal to expand its presence in emerging markets, capitalizing on Utah's rapidly growing medical cannabis program that generated US$118.7 million in sales last year. The newly acquired dispensaries are projected to generate an annualized revenue run rate of US$14 million, positioning Curaleaf for long-term growth.

Curaleaf Holdings, a leading cannabis provider, has announced a definitive agreement to acquire Deseret Wellness, Utah's largest cannabis retail operator, for approximately US$20 million. This acquisition is expected to enhance Curaleaf's retail presence in Utah, expanding its footprint to four dispensaries in the state and 150 nationwide. Deseret Wellness, which operates three dispensaries in Park City, Provo, and Payson, has an annualized revenue run rate of US$14 million. The deal represents a significant change of ownership in Utah's cannabis market and aims to improve access to high-quality cannabis products for medical patients.

Curaleaf Holdings, Inc. (CURLF) has launched JAMS, a new cannabis edibles brand, in Florida, with an upcoming release in Arizona and plans to expand to more states. JAMS offers a variety of products, including jellies, fast-acting jellies, chocos, and tarts, designed for both new and experienced cannabis consumers. Each product is crafted with innovative delivery technologies, ensuring consistency and efficacy. The edibles market is growing, and JAMS aims to satisfy the increasing consumer demand for flavorful and reliable cannabis products. Curaleaf operates in 19 states with 147 dispensaries, employing nearly 5,500 team members across the U.S.

Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) announced a delay in its fourth quarter and full year earnings release, initially set for March 28, 2023. The company requires additional time to transition three years of financials from IFRS to U.S. GAAP and review various accounting matters. Curaleaf expects to file its financial statements by April, adhering to the required securities laws deadlines. Operating in 19 states with 147 dispensaries and nearly 5,500 employees, Curaleaf aims to provide clarity and confidence in cannabis consumption.