Curaleaf Reports Strong International Growth in Q3 2024

Curaleaf Holdings, Inc. (TSX: CURA / OTCQX: CURLF), a leading international provider of cannabis consumer products, has announced its financial and operational results for the third quarter and full year 2024. The company reported a net revenue of $330.5 million for the quarter, representing a 1% decrease year-over-year. Despite the slight decline, Curaleaf's adjusted gross margin improved to 49%, up 312 basis points from the previous year. The company's adjusted EBITDA margin also increased by 23 basis points year-over-year to 23%.



One of the standout performances in Curaleaf's Q3 2024 results was the significant growth in its international business. The company's international revenue increased by 82% year-over-year, driven by strong performances in markets like Germany. Curaleaf's global strategic vision, which aims to diversify revenue streams and mitigate concentration risk, is playing out on multiple fronts. The company's international growth is a key aspect of its evolution from a multi-state operator (MSO) to a multi-country operator (MCO), reflecting its global vision and business strategy.

Curaleaf's operational highlights and strategic initiatives in the fourth quarter and full year 2024 contributed significantly to its financial results. The company expanded its retail presence by opening new dispensaries in various markets, including New York, Florida, and Ohio. Curaleaf also launched new products, such as JAMS Remix, a new line of flavor-forward jellies, and successfully introduced Curaleaf flower into the German market. The company's rebranding efforts, including the rebranding of its three Nevada stores to Curaleaf stores, further aligned its branding across multiple markets.

Curaleaf's focus on sustainable, profitable organic growth has had a positive impact on its financial performance in the fourth quarter and full year 2024 compared to previous periods. The company's international business growth, particularly in markets like Germany, has contributed to its overall financial performance and risk diversification. As Curaleaf continues to execute its global vision and business strategy, investors can expect the company to maintain its position as a leading international provider of cannabis consumer products.