CURLF on OTC
Curaleaf Holdings, Inc.
Canadian medicinal chemicals and botanical products company based in Stamford.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with Trulieve Cannabis Corp., USANA Health Sciences or Tilray, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
49.8%Gross margin2
2.0%Operating margin2
-18.2%Net margin2
-5.0%Revenue growth, 20252
-30.6%Return on equity2
0.68×Debt to equity2
$74.3MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Retail brought in 73% of the revenue Curaleaf Holdings, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Retail | $1.0B | $922.6M |
| Wholesale Revenue | $295.6M | $332.2M |
| Management Fee Income | $6.0M | $13.3M |
Business segments
Domestic brought in 86% of the revenue Curaleaf Holdings, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Domestic | $1.2B | $1.1B |
| International | $105.5M | $172.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue50¢$637.1M
- Research and development0¢$805.0K
- Selling, general and admin34¢$428.4M
- Other costs6¢$78.1M
- Income tax10¢$123.7M
Out of $1.3B in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending46¢$63.4M
- Kept or used elsewhere54¢$74.3M
Out of $137.7M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenues, net | $1.3B | $1.3B |
| Cost of goods sold | $637.1M | $693.5M |
| Gross profit | $631.0M | $640.8M |
| Selling, general and administrative | $428.4M | $418.5M |
| Share-based compensation | $35.7M | $25.7M |
| Depreciation and amortization | $141.4M | $171.8M |
| Total operating expenses | $605.6M | $616.0M |
| Income (loss) from continuing operations | $25.4M | $24.7M |
| Interest income | $663.0K | $776.0K |
| Interest expense | -$56.8M | -$59.4M |
| Interest expense related to lease liabilities and financial obligations | -$44.1M | -$41.3M |
| Impairment loss | -$9.1M | -$54.2M |
| Other income, net | $5.6M | $16.0M |
| Total other expense, net | -$103.7M | -$138.1M |
| Loss before provision for income taxes | -$78.2M | -$113.4M |
| Provision for income taxes | -$123.7M | -$98.3M |
| Net loss from continuing operations | -$201.9M | -$211.6M |
| Net loss from discontinued operations | -$26.2M | -$10.4M |
| Net loss | -$228.2M | -$222.0M |
| Less: Net income (loss) attributable to non-controlling interest | $2.9M | -$6.6M |
| Net loss attributable to Curaleaf Holdings, Inc. | -$231.1M | -$215.4M |
| Net loss per share from continuing operations - basic (in dollars per share) | -$0 | -$0 |
| Net loss per share from continuing operations - diluted (in dollars per share) | -$0 | -$0 |
| Net loss per share from discontinued operations - basic (in dollars per share) | -$0 | -$0 |
| Net loss per share from discontinued operations - diluted (in dollars per share) | -$0 | -$0 |
| Net loss per share attributable to Curaleaf Holdings, Inc. - basic (in dollars per share) | -$0.35 | -$0.32 |
| Net loss per share attributable to Curaleaf Holdings, Inc. - diluted (in dollars per share) | -$0.35 | -$0.32 |
| Weighted average common shares outstanding - basic (in shares) | 762.1M shares | 740.8M shares |
| Weighted average common shares outstanding - diluted (in shares) | 762.1M shares | 740.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2025-06-30 | 2024-12-31 | 2024-01-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents (including restricted cash and cash equivalents) | $101.6M | $107.2M | $91.8M | ||
| Accounts receivable, net of allowance for credit losses of $2,617 and $2,722, respectively | $76.3M | $66.0M | |||
| Inventories, net | $225.0M | $216.9M | |||
| Assets held for sale | $3.7M | $15.7M | |||
| Prepaid expenses and other current assets | $37.4M | $28.1M | |||
| Notes receivable - current | $4.6M | $451.0K | $7.0M | ||
| Total current assets | $448.6M | $434.4M | |||
| Deferred tax asset | $443.0K | $401.0K | |||
| Income tax receivable | $2.4M | $20.0M | |||
| Investments and other assets | $13.4M | $15.0M | |||
| Notes receivable - net of current | $3.0M | $2.0M | |||
| Property, plant and equipment, net | $520.4M | $542.6M | |||
| Right-of-use assets, finance lease, net | $97.6M | $105.2M | |||
| Right-of-use assets, operating lease, net | $113.3M | $115.8M | |||
| Intangible assets, net | $1.0B | $1.1B | |||
| Goodwill | $635.1M | $628.9M | $626.6M | ||
| Total assets | $2.8B | $2.9B | |||
| Accounts payable | $74.7M | $79.1M | |||
| Accrued expenses | $110.5M | $102.2M | |||
| Income tax payable | $19.0M | $23.4M | |||
| Lease liabilities, finance - current | $11.7M | $11.0M | |||
| Lease liabilities, operating - current | $19.8M | $17.3M | |||
| Notes payable - current | $35.7M | $101.7M | |||
| Contingent consideration liability - current | $0 | $3.3M | |||
| Deferred consideration liability - current | $3.0M | $33.1M | |||
| Financial obligations - current | $7.2M | $7.2M | |||
| Liabilities associated with assets held for sale | $7.1M | $8.9M | |||
| Other current liabilities | $5.6M | $652.0K | |||
| Total current liabilities | $294.3M | $387.9M | |||
| Deferred tax liability | $212.0M | $244.8M | |||
| Notes payable - net of current | $512.9M | $466.9M | |||
| Lease liabilities, finance - net of current | $144.4M | $150.7M | |||
| Lease liabilities, operating - net of current | $102.3M | $106.2M | |||
| Uncertain tax position | $531.5M | $392.2M | |||
| Contingent consideration liability - net of current | $3.4M | $2.8M | |||
| Deferred consideration liability - net of current | $0 | $2.0M | |||
| Financial obligations - net of current | $202.9M | $201.7M | |||
| Other long-term liabilities | $1.2M | $1.1M | |||
| Total liabilities | $2.0B | $2.0B | |||
| Redeemable non-controlling interest contingency | $83.9M | $102.1M | $132.2M | $120.7M | |
| Additional paid-in capital | $2.3B | $2.2B | |||
| Accumulated other comprehensive loss | -$1.8M | -$20.1M | |||
| Accumulated deficit | -$1.6B | -$1.4B | |||
| Total shareholders equity | $756.4M | $861.2M | $1.1B | ||
| Total liabilities, temporary equity and shareholders equity | $2.8B | $2.9B | |||
| Allowance for credit loss | $2.6M | $2.7M |
| Period ending | 2025-12-31 | 2025-06-30 | 2024-12-31 | 2024-01-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents (including restricted cash and cash equivalents) | $101.6M | $107.2M | $91.8M | ||
| Accounts receivable, net of allowance for credit losses of $2,617 and $2,722, respectively | $76.3M | $66.0M | |||
| Inventories, net | $225.0M | $216.9M | |||
| Assets held for sale | $3.7M | $15.7M | |||
| Prepaid expenses and other current assets | $37.4M | $28.1M | |||
| Notes receivable - current | $4.6M | $451.0K | $7.0M | ||
| Total current assets | $448.6M | $434.4M | |||
| Deferred tax asset | $443.0K | $401.0K | |||
| Income tax receivable | $2.4M | $20.0M | |||
| Investments and other assets | $13.4M | $15.0M | |||
| Notes receivable - net of current | $3.0M | $2.0M | |||
| Property, plant and equipment, net | $520.4M | $542.6M | |||
| Right-of-use assets, finance lease, net | $97.6M | $105.2M | |||
| Right-of-use assets, operating lease, net | $113.3M | $115.8M | |||
| Intangible assets, net | $1.0B | $1.1B | |||
| Goodwill | $635.1M | $628.9M | $626.6M | ||
| Total assets | $2.8B | $2.9B | |||
| Accounts payable | $74.7M | $79.1M | |||
| Accrued expenses | $110.5M | $102.2M | |||
| Income tax payable | $19.0M | $23.4M | |||
| Lease liabilities, finance - current | $11.7M | $11.0M | |||
| Lease liabilities, operating - current | $19.8M | $17.3M | |||
| Notes payable - current | $35.7M | $101.7M | |||
| Contingent consideration liability - current | $0 | $3.3M | |||
| Deferred consideration liability - current | $3.0M | $33.1M | |||
| Financial obligations - current | $7.2M | $7.2M | |||
| Liabilities associated with assets held for sale | $7.1M | $8.9M | |||
| Other current liabilities | $5.6M | $652.0K | |||
| Total current liabilities | $294.3M | $387.9M | |||
| Deferred tax liability | $212.0M | $244.8M | |||
| Notes payable - net of current | $512.9M | $466.9M | |||
| Lease liabilities, finance - net of current | $144.4M | $150.7M | |||
| Lease liabilities, operating - net of current | $102.3M | $106.2M | |||
| Uncertain tax position | $531.5M | $392.2M | |||
| Contingent consideration liability - net of current | $3.4M | $2.8M | |||
| Deferred consideration liability - net of current | $0 | $2.0M | |||
| Financial obligations - net of current | $202.9M | $201.7M | |||
| Other long-term liabilities | $1.2M | $1.1M | |||
| Total liabilities | $2.0B | $2.0B | |||
| Redeemable non-controlling interest contingency | $83.9M | $102.1M | $132.2M | $120.7M | |
| Additional paid-in capital | $2.3B | $2.2B | |||
| Accumulated other comprehensive loss | -$1.8M | -$20.1M | |||
| Accumulated deficit | -$1.6B | -$1.4B | |||
| Total shareholders equity | $756.4M | $861.2M | $1.1B | ||
| Total liabilities, temporary equity and shareholders equity | $2.8B | $2.9B | |||
| Allowance for credit loss | $2.6M | $2.7M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss from continuing operations | -$201.9M | -$211.6M |
| Depreciation and amortization | $196.6M | $231.5M |
| Share-based compensation | $35.7M | $25.7M |
| Non-cash interest expense | $9.1M | $14.1M |
| Amortization of operating lease right-of-use assets | $19.4M | $16.6M |
| Loss on impairment | $9.1M | $54.2M |
| Gain on extinguishment of debt | -$1.7M | -$257.0K |
| Loss (gain) on disposal of assets | $3.0M | -$4.6M |
| Loss (gain) on investment | $343.0K | -$6.6M |
| Non-cash adjustments to inventory | -$1.9M | -$4.2M |
| Allowance for credit losses | $2.5M | -$347.0K |
| Deferred taxes | -$34.1M | -$54.5M |
| Other non-cash (income) expenses | -$888.0K | $2.1M |
| Foreign exchange (gain) loss | -$3.7M | $1.6M |
| Accounts receivable, net | -$11.0M | -$7.8M |
| Inventories, net | -$3.7M | $4.3M |
| Prepaid expenses and other current assets | -$8.8M | $3.3M |
| Income tax receivable | $17.7M | $10.1M |
| Net assets held for sale | $0 | -$131.0K |
| Investments and other assets | $1.4M | -$752.0K |
| Accounts payable | -$5.2M | -$5.6M |
| Accrued expenses and other liabilities | $147.9M | $118.4M |
| Lease liabilities, operating | -$17.9M | -$16.4M |
| Net cash provided by operating activities from continuing operations | $152.0M | $169.1M |
| Net cash used in operating activities from discontinued operations | -$14.3M | -$5.5M |
| Net cash provided by operating activities | $137.7M | $163.6M |
| Purchases of property, plant and equipment | -$63.4M | -$92.4M |
| Disposals of property, plant and equipment | $687.0K | $1.4M |
| Proceeds from sale of entities | $0 | $8.5M |
| Acquisition-related cash payments, net of cash acquired | -$542.0K | -$4.7M |
| Purchases of intangibles | -$1.2M | -$5.0M |
| Purchase of investments | -$173.0K | -$708.0K |
| Dividend received on investments | $225.0K | $0 |
| Issuance of notes receivable | -$5.5M | -$3.1M |
| Payments received on notes receivables | $749.0K | $628.0K |
| Net cash used in investing activities from continuing operations | -$69.2M | -$95.5M |
| Net cash (used in) provided by investing activities from discontinued operations | -$1.1M | $1.6M |
| Net cash used in investing activities | -$70.3M | -$93.8M |
| Proceeds from notes payable | $83.2M | $22.0M |
| Principal payments on notes payable | -$101.3M | -$49.3M |
| Payments of debt issuance costs | -$950.0K | -$456.0K |
| Principal payments on finance lease liabilities | -$10.2M | -$9.4M |
| Principal payments on financial obligations | -$5.8M | -$5.8M |
| Exercise of stock options | $256.0K | $156.0K |
| Payments of deferred consideration | -$35.4M | -$11.2M |
| Payments of contingent consideration | -$3.2M | $0 |
| Net cash used in financing activities from continuing operations | -$73.5M | -$54.1M |
| Net cash used in financing activities from discontinued operations | $0 | -$144.0K |
| Net cash used in financing activities | -$73.5M | -$54.2M |
| Net (decrease) increase in cash and cash equivalents (including restricted cash and cash equivalents) | -$6.1M | $15.6M |
| Effect of exchange rate changes on cash and cash equivalents (including restricted cash and cash equivalents) | $478.0K | -$148.0K |
| Purchases of property, plant and equipment within accounts payable and accrued expenses | $2.8M | $15.2M |
| Issuance of SVS in connection with acquisitions | $574.0K | $32.1M |
| Non-cash proceeds from Note Exchange (as defined herein) | $7.0M | $0 |
| Extinguishment of convertible notes by issuance of SVS | $16.5M | $0 |
| Non-cash activity related to modification of failed sale and leaseback arrangements | $7.1M | $0 |
| Non-cash activity related to obtaining finance right-of-use assets | $7.4M | $3.8M |
| Non-cash activity related to obtaining operating right-of-use assets | $19.7M | $11.1M |
| Other non-cash activity related to finance right-of-use assets | $2.8M | $2.1M |
| Other non-cash activity related to operating right-of-use assets | $4.0M | $1.6M |
| Issuance of notes in connection with sale of entities | $0 | $2.3M |
| Contingent consideration incurred in connection with acquisitions | $0 | $6.4M |
| Deferred consideration incurred in connection with acquisitions | $920.0K | $1.2M |
| Forgiveness of promissory note in connection with acquisition | $0 | $7.0M |
| Issuance of SVS for settlement of liability | $77.0K | $0 |
| Excess redemption value attributable to non-controlling interest | $42.3M | $22.7M |
| Issuance of SVS to purchase non-controlling interest | $5.4M | $0 |
| Excess carrying value of redeemed NCI over consideration paid in SVS | $96.7M | $0 |
| Non-cash reduction to deferred sale proceeds | $120.0K | $0 |
| Non-cash reduction to acquisition-related deferred consideration | $0 | $3.7M |
| Cash paid for taxes | $27.1B | $16.5M |
| Cash paid for interest | $103.6M | $96.4M |
| Excess tax benefit from exercise of options | $97.0K | $23.0K |
No quarter-by-quarter statement was filed.
Filings
178 filings to the SEC since October 2021: 7 annual reports, 1 quarterly reports, 15 major events, 3 private raises, 152 other. The latest 20:
- Oct 6, 2026425 EDGAR
- Oct 6, 20268-K EDGAR
- Oct 6, 2026F-X EDGAR
- Oct 6, 2026SC14D1F/A EDGAR
- Oct 6, 2026425 EDGAR
- Oct 6, 20268-K EDGAR
- Oct 6, 2026F-80 EDGAR
- Oct 5, 20268-K EDGAR
- Oct 1, 20268-K EDGAR
- Oct 1, 20268-K EDGAR
- Sep 16, 20268-K EDGAR
- Sep 16, 2026425 EDGAR
- Sep 15, 2026425 EDGAR
- Sep 15, 20268-K EDGAR
- Sep 14, 2026425 EDGAR
- Sep 14, 20268-K EDGAR
- Sep 8, 20268-K EDGAR
- Sep 8, 2026425 EDGAR
- Sep 2, 2026425 EDGAR
- Sep 2, 20268-K EDGAR
The 178 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| AdvisorShares Investments LLC | 12,420,961 | $134.3M | 16.2% | New |
| Albert D Mason Inc | 25,009 | $270.3K | 0.2% | New |
| Financial Gravity Companies, Inc. | 33 | $357 | 0.0% | New |
| Ancora Advisors LLC | 33 | $357 | 0.0% | New |
| Sterling Capital Management LLC | 32 | $346 | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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