STAMFORD – November 03, 2026 -- Curaleaf Holdings reported record third-quarter net revenue of $352.7 million, up 10.9% from $317.9 million a year earlier, as its international segment grew 28% and its domestic business grew 8%. Sequentially, revenue rose 3.6% from $340.1 million in the second quarter of 2026.
International sales reach $59 million as U.S. growth extends to a third quarter
International revenue totaled $59 million in the quarter. The U.S. business has now posted three consecutive quarters of year-over-year growth. Chairman and CEO Boris Jordan said cannabis demand stayed resilient despite mounting pressure on consumers.
Curaleaf secured its first two registrations for standardized cannabis preparations in Spain during the quarter.
Margins narrow while adjusted EBITDA climbs to $77.6 million
Adjusted EBITDA rose to $77.6 million from $71.7 million a year earlier. The adjusted EBITDA margin was 22.0%, down 56 basis points year over year.
Gross profit was $170.5 million, a 48.3% margin that is 220 basis points lower than the prior year. Adjusted gross profit was $171.8 million, a 48.7% margin versus 50.6% a year earlier, a decline of 186 basis points.
The company reported a net loss from continuing operations of $37.4 million, or $0.14 per share.
Nine-month revenue tops $1 billion with net income of $45.2 million
Revenue for the nine months ended September 30 reached $1,017.0 million, up 9% from $935.1 million. Net income from continuing operations was $45.2 million, or $0.17 per share. Adjusted EBITDA was $211.1 million at a 20.8% margin, versus $205.7 million and 21.6% in the prior-year period.
Cash stands at $104.9 million against $636.9 million in debt
Cash flow from continuing operations was $22 million in the quarter. Management attributed the low figure to timing differences that will reverse next quarter, and it still targets about $150 million in operating cash flow for 2026. Capital expenditures totaled $50.0 million over nine months, directed at facility upgrades, automation and selective retail expansion.
Curaleaf repurchased 105,440 shares for $1 million in the quarter. Over nine months it retired and repurchased 1.12 million shares worth $8.4 million.
Aurora Cannabis bid faces rival Organigram merger
Curaleaf began an Original Offer for all issued and outstanding common shares of Aurora Cannabis during the quarter. The consideration is a mix of subordinate voting shares and cash. After quarter-end, it enhanced the offer and raised the consideration. Aurora then announced an alternative merger with Organigram. Curaleaf said it is evaluating that transaction and its options for continuing to pursue an acquisition.
Dispensary network grows to 191 locations
Two Florida openings in Port Richey and Riverview lifted the state count to 78 and the operated and managed network to 188 in the quarter. Two more openings in Port Orange and Wellington after quarter-end brought Florida to 80 and the national total to 191. Curaleaf also acquired the equity interest in Boone Town Provisions, its fourth New Jersey dispensary.
Curaleaf relocated three dispensaries in the quarter, in Meriden, Connecticut; Fishtown, Pennsylvania; and Boston. A fourth relocation, to York, Pennsylvania, followed after quarter-end. The company also began receiving DEA registrations for medical marijuana dispensaries and joined the FTSE Canada All Cap Index, its second index inclusion after the SPX/TSX.