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5 Key Takeaways From Curaleaf’s Earnings Report

May 8, 2023 • 8:46 AM EDT
5 MIN READ  •  By Michael Berger
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Earlier this month, Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) reported financial results for the fourth quarter and the entire fiscal year (which ended on December 31st).

Today, we have published an article on Curaleaf’s earnings report and believe our readers should be aware of the following 5 key takeaways from it:

  1. Last year, Curaleaf launched 171 new products, introduced three new brands, sold $600 million of its own brands through its stores, completed six acquisitions, opened 28 new stores, and expanded its European presence with the German market
  2. Curaleaf’s ability to sell so much of its own branded products through its stores is a testament to the strength of its retail business. This advantage could help the company increase gross margins, have an unrivaled geographically diverse footprint, and focus on improving the cannabis customer experience.
  3. Curaleaf reported record numbers on several metrics in 2022 and generated more than $1.3 billion of revenue during the year. During the fourth quarter, the US cannabis company generated $352.5 million of revenue and $73 million of adjusted EBITDA. When compared to the same period last year, revenue increased by 14% and we are bullish on the improvement
  4. As of December 31, 2022, Curaleaf reported to have $163 million of cash and $46 million of operating cash flow
  5. Due to the strength of the balance sheet, Curaleaf plans to continue to invest in what it considers to be strategic opportunities for growth domestically and internationally.

Although we are favorable on the amount of growth that Curaleaf reported for the quarter, we believe the business faces some roadblocks in the near-term. A few months ago, the company exited 3 major cannabis markets (California, Colorado, and Oregon) and we considered this to be a significant development.

If a company said that it was planning to exit a few key US markets back in 2018/2019, we believe the market’s reaction would have been much more pronounced than it was for Curaleaf. We believe the management made the right decision to exit these markets and to focus on states that are more profitable.

During the last year, Curaleaf’s stock has plummeted and we are closely following the trend. During this time, the company recorded a more than $350 million net loss and we will monitor how this changes over the next year.

If you are interested in learning more about Curaleaf’s earnings report from cannabis companies, please send an email to support@technical420.com with the subject “Curaleaf’s Earnings Report” to be added to our distribution list.

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Any Content posted regarding a Profiled Issuer is not a solicitation or recommendation to buy, sell or hold securities. We cannot and do not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. All information should be independently verified. We are not responsible for errors or omissions in our publications, and any opinions expressed are subject to change, without notice. We do not, nor are we under any obligation to undertake due diligence or investigation or authenticate and verify whatsoever regarding Profiled Issuers or any Content posted in relation thereto and we do not receive any verification from the Profiled Issuer regarding the Content we disseminate. Similarly, while we endeavor to facilitate the provision of quality information, we are not responsible for any loss or damages caused or alleged to have been caused by its use nor verify or authenticate or update such information.

This article contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, state, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the impact of the Russia-Ukraine conflict on the global economy; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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