Curaleaf Hldgs - CURLF STOCK NEWS

Curaleaf Holdings reported Q3 2021 revenue of $317 million, marking a 2% sequential increase and 74% year-over-year growth. Adjusted EBITDA reached $71 million, up 69% YoY. However, gross profit fell by 7% from Q2, affected by a one-time loss on inventory and declining gross margins at 45.6%. The company announced the acquisition of Tryke Companies to boost market presence in Nevada, Arizona, and Utah, following the completion of the Los Sueños Farms acquisition in October 2021.

Curaleaf Holdings has announced its acquisition of Tryke Companies, a multi-state cannabis operator, valued at approximately US$286 million. The deal includes US$40 million in cash at closing and US$75 million to be paid over three years. This acquisition aims to enhance Curaleaf's operations and product offerings in Arizona, Nevada, and Utah, with expected immediate improvements to EBITDA margins and free cash flow. Tryke's business is projected to generate nearly US$110 million in revenue for 2021, reinforcing Curaleaf's growth strategy.

Curaleaf Holdings has launched sales of whole flower cannabis in New York starting today in its Newburgh dispensary, with sales at additional locations commencing tomorrow. This move marks a significant expansion in product offerings, enabling patients access to whole flower for the first time. Curaleaf plans to supply wholesale partners across the state by the end of the month, strengthening its market position. CEO Joe Bayern expressed gratitude toward state officials and emphasized readiness for robust sales in New York.

Curaleaf expands its co-branded Rolling Stone by Select cannabis product line into California, Arizona, and Massachusetts in early 2022. This follows its successful launch in Nevada and aims to enhance product accessibility linking music and cannabis. The new offerings include three vape products: 'Overdrive' Sativa, 'Phaser' Hybrid, and 'Reverb' Indica, utilizing Select's premium cannabis oil and innovative Cliq pod system. Curaleaf operates across 23 states with a commitment to high-quality cannabis, enhancing consumer experiences.

Curaleaf Holdings, Inc. (CURLF) has expanded the B NOBLE cannabis brand to six additional states, following its initial launch in Massachusetts and Maryland earlier this year. Now available in eight states, B NOBLE aims to promote social equity and support individuals affected by the War on Drugs, donating 10% of proceeds to local organizations. Founded with artist Fab 5 Freddy, the brand's mission stems from the case of Bernard Noble, who faced severe penalties for minimal cannabis possession. Curaleaf’s initiative aligns with its corporate social responsibility program focused on diversity and sustainability.

Curaleaf, a prominent cannabis provider, has launched Select Snooze Bites, combining THC and CBN in a 1:1 ratio for effective nighttime relief. This innovative product promises rapid absorption, with effects felt within 15-30 minutes. The growing demand for CBN products has reportedly generated $43 million in sales in key states. Select Snooze Bites will initially be available in Arizona and Nevada before expanding to California, Colorado, and others. Curaleaf operates 111 dispensaries across 23 states, emphasizing their commitment to enhancing consumer experiences.

Curaleaf has completed the acquisition of Los Sueños Farms, enhancing its outdoor cultivation capacity in Colorado by 66 acres. This acquisition positions Curaleaf as the largest cannabis biomass producer in the state, essential for supporting its wholesale and retail markets. With the Colorado cannabis market valued at $2.2 billion, this expansion aims to increase market presence and optimize production costs. Bob DeGabrielle will oversee operations, further expanding Curaleaf's capabilities and market offerings in one of the largest U.S. cannabis markets.

Curaleaf Holdings (CSE: CURA / OTCQX: CURLF), a prominent cannabis consumer products provider, will announce its third quarter financial results on November 8, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss the operational and financial highlights. Interested parties can join via a live call or access a replay until November 15, 2021. Curaleaf operates in 23 U.S. states with over 5,000 employees and is also the largest vertically integrated cannabis company in Europe. For more details, visit Curaleaf's website.

Curaleaf announced the upcoming launch of Cliq by Select, a high-tech vaping hardware system designed to enhance user experience. This innovative product, a result of extensive R&D, will roll out in 16 states starting with Oregon, California, and Arizona next week. Cliq features a gravity-fed pod, durable stainless steel design, and USB-C charging. It offers customizable experiences with variable battery voltage and a range of cannabis oil varieties. Curaleaf operates in 23 states with a focus on providing quality products and services to consumers.