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MARKETS / BALCAO / CURLF
BALCAO · MEDICINAL CHEMICALS & BOTANICAL PRODUCTS · LARGE CAP

Curaleaf Holdings, Inc. CURLF

5 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.3B
▼ 5.0% YoY
$-231.1M
$74.3M
▲ 4.3% YoY
In brief

What this company does

Curaleaf Holdings, Inc. operates a vertically integrated cannabis platform with an omnichannel distribution footprint and a portfolio of brands and products serving consumers and patients across the U.S., Canada, Europe and Australasia. Its product portfolio includes flower, pre-rolls, vaporizer cartridges, concentrates, topicals, tinctures, edibles and beverages. As at December 31, 2025, the company had 5,554 employees, of which 4,862 were located in the U.S., 92 in Canada, 598 in Europe and 2 in Australia. Its infrastructure includes 17 cultivation sites with approximately 1,489,814 square feet of cultivation capacity. As of December 31, 2025, the company had two operating segments: Domestic operations and International operations. In the United States, the company sells cannabis primarily through direct-to-consumer retail sales at state-licensed dispensaries. In Europe, its sales occur primarily through licensed wholesale distribution channels in Germany, Poland, Switzerland and the United Kingdom.

Written from the business description in Curaleaf Holdings, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.3B
Revenue, FY2025 · full 5-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.3 · Net income -0.2
0.5B1.0B-0.2B20212022202320242025
Compound annual growth
−0.2%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−18 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 2.0% · Net -18.0%
2%4%-10%-20%20212022202320242025
ROE
FY2025 · ROE -28.6%
-10%-20%20212022202320242025

Each USD of equity lost 29 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 74.3
25.0M50.0M-80.0M-160.0M20212022202320242025

Total assetsUSD 2.8B
EquityUSD 756.4M
CashUSD 101.6M
Gross debtUSD 548.7M
Net debtUSD 447.1M
Current ratio1.52×

Net debt stands at 59% of equity.

The 5-year record
5 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021
Revenue $B1.31.31.31.31.2
Operating income $B0.00.00.00.10.1
EBITDA $B0.20.30.20.20.2
Income tax $B0.10.10.10.20.2
Net income $B−0.2−0.2−0.3−0.4−0.2
Free cash flow $B0.10.10.0−0.1−0.2
EPS, diluted $−0.35−0.32−0.39−0.52−0.29
Dividend / sh $·····
Payout %·····
ROE %−28.6−22.5−24.1−26.2−13.3
Shares out B·0.750.730.720.71

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures · 2 divergences in 25 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 70 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures2 divergent
ActivityMedicinal Chemicals & Botanical Products
Listed onOTC market
Incorporated inoutside the United States — SEC code A1
Fiscal year endsDecember 31
Data on record since2021

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