Cannabis firm Curaleaf Q3 revenue slightly beats expectations

Overview

• Curaleaf Q3 revenue of $320 mln slightly beats analyst expectations

• Company's international revenue grows 56% yr/yr, driving overall growth

• Adjusted gross margin improves to 50%, up 115 basis points yr/yr

Outlook

• Curaleaf sees positive momentum despite macroeconomic pressures

• Company aims to enhance product quality and expand margins

• Curaleaf plans to leverage Dark Heart genetics for renewed growth

Result Drivers

• INTERNATIONAL GROWTH - International revenue grew 56% yr/yr, significantly contributing to overall growth

• DOMESTIC STABILITY - Domestic segment remained stable with modest growth despite price compression challenges

• STRATEGIC INITIATIVES - Return to Our Roots plan enhances product quality and expands margins

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Curaleaf Holdings Inc is C$4.13, about 8.8% above its November 4 closing price of C$3.76

Press Release: ID:nCNWy3v5va

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