Curaleaf Holdings announced today that it generated record quarterly revenue of $352.7 million during the third quarter of 2026, an 11% increase from the same period last year, driven by growth in both its U.S. and international marijuana operations.
The company reported revenue of $352.7 million for the three months ending September 30, compared to $317.9 million during the third quarter of 2025. Revenue also increased 3.6% from the previous quarter, when Curaleaf reported $340.1 million.
Curaleaf’s U.S. operations generated $294 million in quarterly revenue, an 8.1% increase from $271.9 million a year earlier. International revenue climbed nearly 28% to $58.7 million, up from $46 million, reflecting continued expansion in overseas medical marijuana markets.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached $77.6 million, compared to $71.7 million during the same quarter last year, an increase of approximately 8.2%. The company’s adjusted EBITDA margin was 22%, compared to 22.6% a year earlier.
Despite the revenue growth, Curaleaf reported a net loss from continuing operations of $37.4 million, an improvement from the $54.3 million loss recorded during the third quarter of 2025. Gross profit increased to $170.5 million, although the company’s gross profit margin declined from 50.5% to 48.3%.
For the first nine months of 2026, Curaleaf generated $1.02 billion in revenue, up 9% from $935.1 million during the same period last year. Adjusted EBITDA for the nine-month period reached $211.1 million, while net income from continuing operations totaled $45.2 million, compared to a loss of $152.4 million during the first nine months of 2025.
“We are building the global leader in cannabis, and our third-quarter results provide further evidence that our strategy is delivering”, said Curaleaf Chairman and CEO Boris Jordan. He noted that the company has now recorded three consecutive quarters of year-over-year revenue growth in its U.S. operations.
Curaleaf also continued expanding its retail operations. During the third quarter, the company opened two additional Florida dispensaries, bringing its statewide total to 78 locations. Following the quarter’s conclusion, two more Florida locations opened, increasing the statewide footprint to 80 and bringing Curaleaf’s nationwide network of operated and managed dispensaries to 191.
The company also confirmed that it has begun receiving federal medical marijuana registrations from the Drug Enforcement Administration (DEA), joining a growing number of state-licensed marijuana operators receiving federal authorization under the Trump administration’s medical marijuana rescheduling framework.
Internationally, Curaleaf reported securing its first two registrations for standardized cannabis preparations in Spain, expanding its presence in Europe’s medical marijuana market.
The earnings announcement also addressed Curaleaf’s ongoing attempt to acquire Aurora Cannabis. Curaleaf said it is evaluating its options after Aurora announced an alternative transaction with Organigram Global, which agreed today to acquire Aurora in a deal valued at approximately C$561 million.
Curaleaf ended September with approximately $104.9 million in combined cash and restricted cash, alongside $636.9 million in outstanding debt. The company reported $22.3 million in free cash flow from continuing operations for the first nine months of the year and continues to target approximately $150 million in operating cash flow for 2026.
