Canada · Delayed Price · Currency is CAD Curaleaf Holdings Earnings Call Transcripts
Fiscal Year 2026
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A major M&A offer is on the table, giving Aurora shareholders a 51% premium and the chance to participate in a global cannabis leader’s growth. The deal leverages Curaleaf’s scale, financial strength, and operational expertise, while criticizing Aurora’s ongoing decline and lack of engagement.
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Q2 revenue rose 10% organically year-over-year to $340 million, with strong growth in both domestic and international segments. Gross margin reached 50%, net income was $12.5 million, and adjusted EBITDA was $70 million. Regulatory changes and operational improvements are expected to drive further growth.
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The meeting approved all proposed resolutions, including director elections, auditor appointment, amendments to share capital, a stock option exchange, and the company's continuation to Delaware. No questions were raised during the Q&A session.
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Q1 2026 saw 6% revenue growth year-over-year, margin resilience, and strong international performance. Regulatory changes, including cannabis rescheduling and banking reform, are expected to unlock significant benefits, while price compression is decelerating in key markets.
Fiscal Year 2025
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Q4 revenue rose to $333M, up 5% sequentially, with full-year revenue at $1.27B and adjusted EBITDA of $275M. International growth was strong, and refinancing improved financial flexibility. Pricing pressure persists but is expected to ease as regulatory changes take effect.
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Third quarter revenue reached $320 million, up 2% sequentially, with strong international growth offsetting domestic price compression. Adjusted gross margin improved to 50%, and adjusted EBITDA was $69 million. Outlook for Q4 is low single-digit sequential revenue growth.
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Q2 2025 revenue rose 1.5% sequentially to $315M, with international growth offsetting U.S. price compression. Adjusted gross margin was 49%, and adjusted EBITDA was $66M. International expansion, product innovation, and regulatory developments remain key growth drivers.
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The meeting, held virtually, covered board elections, auditor appointment, and financial statement presentation. Six directors were elected, the board size set at 10, and PKF O'Connor Davies LLP appointed as auditor. No shareholder questions were raised.
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Q1 2025 revenue declined 6% sequentially to $310M, but gross margin rose to 50% on improved efficiencies. International and wholesale segments drove growth, while price compression and macro headwinds persisted. Cash flow remained strong, and margin expansion is a key focus.
Fiscal Year 2024
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Revenue and adjusted EBITDA for 2024 were flat year-over-year at $1.34 billion and $301 million, respectively, with margin improvements offsetting price compression. International and key U.S. markets drove growth, while operational efficiencies and debt reduction initiatives strengthened the balance sheet.
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Q3 revenue was $331M, down 1% year-over-year, but gross margin improved to 49% and Adjusted EBITDA margin to 23%. International revenue surged 82% year-over-year, offsetting U.S. market headwinds. Management is focused on margin expansion, cost savings, and strategic growth.
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Q2 revenue grew 2% year-over-year to $342M, with adjusted gross margin up to 48% and adjusted EBITDA at $73M. International and wholesale segments drove growth, while retail declined. Guidance remains for mid-single digit revenue growth and mid-20s% EBITDA margin, both at the lower end.
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The meeting set the board size at 10, elected eight directors, and approved the auditor appointment. All resolutions passed, and no questions were raised during the Q&A session.