XML 23 R5.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues, net:    
Total revenues, net $ 1,268,135 $ 1,334,299
Cost of goods sold 637,113 693,522
Gross profit 631,022 640,777
Operating expenses:    
Selling, general and administrative 428,442 418,534
Share-based compensation 35,736 25,696
Depreciation and amortization 141,394 171,804
Total operating expenses 605,572 616,034
Income (loss) from continuing operations 25,450 24,743
Other income (expense):    
Interest income 663 776
Interest expense (56,753) (59,353)
Interest expense related to lease liabilities and financial obligations (44,076) (41,263)
Impairment loss (9,080) (54,245)
Other income, net 5,582 15,984
Total other expense, net (103,664) (138,101)
Loss before provision for income taxes (78,214) (113,358)
Provision for income taxes (123,689) (98,251)
Net loss from continuing operations (201,903) (211,609)
Net loss from discontinued operations (26,250) (10,398)
Net loss (228,153) (222,007)
Less: Net income (loss) attributable to non-controlling interest 2,917 (6,584)
Net loss attributable to Curaleaf Holdings, Inc. $ (231,070) $ (215,423)
Per share – basic and diluted    
Net loss per share from continuing operations - basic (in dollars per share) [1],[2] $ (0.32) $ (0.31)
Net loss per share from continuing operations - diluted (in dollars per share) [1],[2] (0.32) (0.31)
Net loss per share from discontinued operations - basic (in dollars per share) [2] (0.03) (0.01)
Net loss per share from discontinued operations - diluted (in dollars per share) [2] (0.03) (0.01)
Net loss per share attributable to Curaleaf Holdings, Inc. - basic (in dollars per share) [1],[2] (0.35) (0.32)
Net loss per share attributable to Curaleaf Holdings, Inc. - diluted (in dollars per share) [1],[2] $ (0.35) $ (0.32)
Weighted average common shares outstanding - basic (in shares) [2] 762,090,951 740,825,099
Weighted average common shares outstanding - diluted (in shares) [2] 762,090,951 740,825,099
Retail and wholesale revenues    
Revenues, net:    
Total revenues, net $ 1,254,821 $ 1,328,331
Management fee income    
Revenues, net:    
Total revenues, net $ 13,314 $ 5,968
[1]
(1) Certain non-controlling interests are redeemable at the option of the holders. When the estimated redemption value exceeds the recorded amount, the excess is charged directly to Shareholders' equity on the Consolidated Balance Sheets. This adjustment does not affect the Company's reported net loss; however, under ASC 480-10, Distinguishing Liabilities from Equity, the excess redemption value must be included in the calculation of earnings per share - basic and diluted. See Note 2 — Basis of presentation and consolidation and Note 24 — Earnings per share for further details.
[2]
(2) As a result of the Company’s net losses from its continuing and discontinued operations for the years ended December 31, 2025 and 2024, the calculation of diluted net loss per share for each period presented gives no consideration to potentially anti-dilutive securities; and as such, is the same as basic net loss per share for each period presented.