Curaleaf sees Q4 revenue $330M vs. $327.8M last year

Core Insights - The company expects Q4 net revenue, excluding discontinued businesses, to be at least $330 million, indicating approximately 4% sequential growth from Q3 2025's net revenue of $317.8 million, surpassing previous guidance of low single-digit growth [1] - Q4 net revenue is projected to grow about 1% compared to Q4 2024's net revenue of $327.8 million [1] - The adjusted gross profit margin for Q4, excluding discontinued businesses, is anticipated to be around 48.5%, consistent with the comparable margin for Q4 2024 [1] - The full year 2025 adjusted gross margin is expected to be approximately 50% [1] Strategic Decisions - The company has decided to wind down its hemp business due to new federal regulations that prohibit hemp-derived THC products containing THC above 0.3% [1] - The exit from Missouri is also part of the strategy, as the sub-scale presence in the state did not justify continued investment [1] Future Outlook - The preliminary Q4 results indicate that the "Return to Our Roots" strategy has positively impacted revenue growth and maintained strong margins [1] - The company aims to close the year on a high note, establishing a solid foundation for renewed momentum and performance in 2026 [1] - There is a focus on maintaining a robust balance sheet while completing the refinancing of senior secured notes due December 2026, guided by a comprehensive capital allocation and liquidity strategy [1]