Curaleaf Reports $340.1 Million Revenue, 10% Increase in Q2 2026

Curaleaf Holdings, Inc. reported a total revenue of $340.1 million for the three months ended June 30, 2026, marking a 10% increase from $310.6 million in the same period last year. The growth was driven by a 5% rise in retail revenues, which reached $240.7 million, and a 21% increase in wholesale revenues, totaling $96.0 million. Management fee income also saw a significant rise of 61%, amounting to $3.4 million. For the first half of 2026, total revenues were $664.3 million, an 8% increase compared to $617.2 million in the prior year, with retail revenues growing by 3% and wholesale revenues by 21%.

The company's gross profit for the second quarter was $169.9 million, representing a gross margin of 50%, slightly up from 49% in the previous year. However, total operating expenses increased by 13% to $165.7 million, primarily due to higher salaries, benefits, and share-based compensation costs. As a result, Curaleaf reported a net income from continuing operations of $12.5 million for the quarter, a significant turnaround from a net loss of $48.1 million in the same quarter of 2025. For the six months ended June 30, 2026, net income from continuing operations was $82.6 million, compared to a loss of $98.2 million in the prior year.

Operationally, Curaleaf expanded its footprint, operating 173 dispensaries across 14 states as of June 30, 2026, and increased its cultivation capacity to approximately 1.5 million square feet. The company also launched the Curaleaf Que Medical Inhalation Device in its international markets, contributing to revenue growth. The total assets of the company decreased slightly to $2.81 billion from $2.85 billion at the end of 2025, while total liabilities also saw a reduction to $1.95 billion from $2.01 billion.

In terms of strategic developments, Curaleaf completed the acquisition of the remaining 45% equity interest in Four20 Pharma, increasing its ownership to 100%. The transaction was valued at approximately $101.2 million and included cash and stock components. The company also initiated a Normal Course Issuer Bid to repurchase up to 11.4 million subordinate voting shares, reflecting its commitment to returning value to shareholders. Looking ahead, Curaleaf anticipates continued growth driven by its expanding retail presence and product offerings, while navigating the competitive landscape of the cannabis industry.