Curaleaf Reports Second Quarter 2025 Results; Domestic Stabilization, Robust International Momentum

Financial Performance - Total revenue for Q2 2025 was $315 million, representing a 1.5% increase compared to Q1 2025 [2] - Adjusted gross margin for Q2 2025 was 49%, an increase of 120 basis points year-over-year [2][7] - Adjusted EBITDA for Q2 2025 was $66 million, resulting in a 21% adjusted EBITDA margin [2][24] - Net loss from continuing operations for Q2 2025 was $50.6 million, or $0.07 per share [7][30] International Expansion - Curaleaf was awarded a license to operate in Turkey's medical cannabis market, expanding its international footprint [2][7] - The international segment reported a 62% year-over-year growth, with international revenue of $41 million in Q2 2025 [2][8] Operational Highlights - The company ended Q2 2025 with $102 million in cash after making $47 million in interest and debt payments [2][9] - Curaleaf opened its 66th retail location in Florida and launched new product lines, including a new pre-roll brand and an ultra-clear oil [7][8] - The company completed the buyout of its minority partner in Curaleaf International, now owning 100% of the business [7] Market Position and Strategy - Curaleaf operates in 17 U.S. states and 15 countries, positioning itself as a global cannabis leader [2] - The company is focusing on product quality, customer service, and supply chain excellence to capitalize on emerging opportunities in the cannabis market [2]