Connecticut’s Curaleaf Holdings Inc. reported Monday that it lost $216.8 million in continuing operations during 2024. That included $71.8million net losses for just the fourth-quarter, but still posted a full-year income of $1.34billion dollars, down slightly on 2023.
Curaleaf’s net revenue in the last three months of 2020 was $331.1 millions, down 4% on $345.3 from the previous year. This included $235.6 in retail sales in the United States, $64.3 in wholesale sales in the U.S., and $30.7 in international cannabis revenues.
According to a recent press release, the company’s revenue for 2018 was down by $3.8M. It also announced $163.3 in cash from operations, and a cash free flow of $70.1 for 2024.
Curaleaf is the nation’s largest marijuana producer, but the results of last year have compounded years of losses. Curaleaf has lost more than $1 billion in the past five years.
Curaleaf completed its quarterly filing on Monday, but the Canadian Securities regulators had not made it available.
Boris Jordan, CEO of the company, said that his primary goal over the last two quarters was to “amplify” the strengths and address the key challenges, as well as stabilize the firm. “Having successfully achieved this, we are now forging ahead with our ‘Return to our roots’ initiative – an ambitious strategy centered on driving organic growth, optimizing margins and cash flow, and reducing debt.”
Curaleaf has continued its expansion in Florida by opening another two dispensaries. This brings the total number of cannabis stores in Florida up to 66, while the national footprint is now 151. Curaleaf has also expanded into the German cannabis industry, rebranded three Nevada dispensaries, and signed a $40 million loan.
Curaleaf, a cannabis company in Florida launched Reef in Florida in 2025. The brand is a hemp-based intoxicating beverage.
Curaleaf, as of Dec. 31st, had $2.94billion total assets. Of that, $107.2m was cash. There were $568.6m in outstanding debts, and 1.95billion total liabilities.