Curaleaf Holdings Inc. (CSE: CURA) (OTC: CURLF) released its financial results for the first quarter ended March 31, 2023.
Q1 2023 Financial Highlights
- Net Revenue of $336.5 million, a year-over-year increase of 14% compared to Q1 2022 revenue of $296 million, which excludes discontinued operations
- Gross profit of $160.8 million and gross margin of 48%
- Adjusted gross profit net of add-backs of $162 million, adjusted gross margin of 48%
- Net loss attributable to Curaleaf Holdings, Inc., including discontinued operations, of $54.4 million or net loss per share of $0.07
- Adjusted net loss from continuing operations attributable to Curaleaf Holdings, Inc.(1) of $46 million or adjusted net loss per share1 of $0.05
- Adjusted EBITDA of $73.2 million or 22% of revenue
- Cash position at quarter end totaled $115.8 million
"2023 is off to a strong start for Curaleaf, with first quarter year-over-year revenue growing 14% to $336.5 million, beating our …