Welcome to our dedicated page for CURALEAF HLDGS news (Ticker: CURLF), a resource for investors and traders seeking the latest updates and insights on CURALEAF HLDGS stock.
Curaleaf Holdings, Inc. (CURLF) is a prominent international provider of consumer cannabis products, known for its mission to enhance lives by sharing and celebrating the power of the plant. It operates under various brands like Curaleaf, Select, Grassroots, JAMS, Find, and Zero Proof in the medical and adult-use markets. With operations in over 15 countries globally, Curaleaf focuses on quality, expertise, and accessibility in the cannabis industry.
Recently, Curaleaf announced a strategic acquisition of Northern Green Canada, a licensed Canadian cannabis producer with a focus on international market expansion. This move aligns with Curaleaf's vision of becoming a global cannabis company with a strong presence in North America, Europe, and Australasia. The acquisition of NGC provides Curaleaf with EU-GMP certification, enabling the company to strengthen its supply chain, improve margins, and extend its global footprint.
Under the leadership of Boris Jordan, Executive Chairman, and Matt Darin, CEO, Curaleaf continues to drive growth and innovation within the cannabis space. The company's commitment to delivering high-quality products and patient access remains a top priority in evolving markets and regulatory environments.
Curaleaf Holdings reported Q2 2024 financial results, with revenue of $342 million, up 2% year-over-year. Adjusted gross margin improved to 48%, up 253 basis points. International revenue grew 78% year-over-year. The company generated $30 million in operating cash flow and $6 million in free cash flow from continuing operations.
Key highlights include:
- Net loss of $48.9 million or $0.06 per share
- Adjusted EBITDA of $73 million with 21% margin
- Cash balance of $89.4 million at quarter end
- Opened 62nd Florida dispensary, ending with 146 U.S. retail stores
- Launched hemp-derived THC products through new online storefront
Management noted benefits from streamlining efforts and expects accelerating revenue and margins in H2 2024 as state and international catalysts develop further.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) announced the commencement of adult-use cannabis operations in Ohio on August 6, 2024. Curaleaf Newark will open for both adult-use and medical patients, while Curaleaf products will be available at licensed dispensaries across the state for adults 21 and over. The company will offer a range of premium products, including Select Briq, Select X Bites, Curaleaf and Grassroots flower, JAMS Jellies, and Plant Precision Ratio Bites.
CEO Matt Darin expressed excitement about serving a new community of Ohioans and believes Ohio has the potential to be one of the nation's most exciting cannabis markets. Curaleaf has prepared for this launch by increasing cultivation capacity and prioritizing flower availability. The company is committed to supporting both adult-use and medical customers, maintaining dedicated services for medical patients.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) has launched its fourth annual 'Feed the Block' fundraiser to combat food insecurity. From August 1-31, 2024, customers can round up purchases at Curaleaf dispensaries to support local food organizations. The initiative, part of Curaleaf's 'Rooted in Good' Corporate Social Responsibility platform, has raised over $450,000 since 2020.
Curaleaf will match 25% of total donations during August. The program addresses rising food insecurity, with nearly one in ten Americans experiencing food shortages. Globally, 282 million people faced acute hunger in 2023, a 9.3% increase from the previous year. Feed the Block operates in 13 states, supporting local food banks during the critical summer months when school meal programs are unavailable.
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) has announced a significant expansion of its retail operations in New York. The company is opening two new medical dispensaries in Rochester and Syracuse, and introducing co-located adult-use sales at its existing Plattsburgh and Forest Hills locations. This expansion will increase Curaleaf's total retail footprint in New York to six dispensaries, with three offering both medical and adult-use sales.
The new Curaleaf Rochester location opened on July 25, while Curaleaf Syracuse is set to open in the coming weeks, pending regulatory approval. Both new medical dispensaries will be staffed with full-time pharmacists and offer a wide range of cannabis products. The company is also hosting grand opening events to celebrate the new locations.
This expansion aligns with Curaleaf's commitment to providing access to licensed, tested cannabis products for both medical patients and adult-use consumers across New York state.
Curaleaf Holdings is set to announce its financial and operational results for Q2 2024 on August 7, 2024, after market close. The company will host a conference call and audio webcast at 5:00 p.m. ET, featuring prepared remarks and a Q&A session. Investors can join the call via various international numbers or access the webcast online. A replay will be available until August 14, 2024.
Curaleaf has announced the launch of a new hemp-derived THC product line under its Select and Zero Proof brands, available from June 26 through a new online platform, TheHempCompany.com. This initiative aims to set new industry standards for safety and quality. In addition to Curaleaf's products, the platform will feature third-party offerings that meet Curaleaf's stringent criteria. Products will be delivered directly to consumers in 25 states and the District of Columbia, starting July 1, with additional distribution through retail and on-demand delivery via DoorDash. The company emphasizes transparency, quality, and safety, with age-gated sales and clear labeling. This move is part of Curaleaf's strategy to expand its presence in the hemp-derived market and generate substantial shareholder value.
Curaleaf Holdings held its 2024 Annual General Meeting of Shareholders on June 14, 2024, via live webcast. A total of 1,741,506,378 votes were cast. Key decisions included the re-election of directors with high approval rates: Boris Jordan (98.515%), Joseph Lusardi (98.931%), Dr. Jaswinder Grover (99.906%), Karl Johansson (99.587%), Peter Derby (99.253%), Mitchell Kahn (98.736%), Shasheen Shah (99.848%), and Michelle Bodner (98.873%). Shareholders also approved the reappointment of PKF O'Connor Davies, LLP as the auditor and set the number of directors to 10. Detailed voting results are available on SEDAR+ and EDGAR.
KindlyMD announced a strategic collaboration with Curaleaf to expand medical cannabis education in Utah. The partnership aims to offer holistic pain management and alternative therapies. Community care events will be held throughout the summer at Curaleaf's medical cannabis pharmacies in Lehi, Provo, and Payson. These events aim to educate patients on medical cannabis as a safer, more affordable option for pain management. KindlyMD's Complete Care program will be introduced, offering easier access to medical cannabis care. This initiative aligns with efforts to combat the opioid crisis and promote sustainable healthcare options.
Curaleaf Holdings announced the launch of Select Fruit Stiq, a rechargeable 1G All-In-One cannabis oil vape with bold fruity flavors. The product features Berry, Citrus, and Tropical terpene blends and aims to provide a high-quality vape experience. Initially launched in Arizona, Utah, and Nevada, Select Fruit Stiq received positive feedback. Now, it's available in six flavors: Sweet Strawberry, Blackberry Blast, Lemon Sunset, Key Lime Tide, Watermelon Breeze, and Go Go Guava. The vape will expand to more states, including New Jersey, Florida, and Illinois, pending regulatory approvals, throughout the summer.
Curaleaf Holdings (CURLF), a major player in the cannabis sector, responded to the House Committee on Agriculture's approval of the Miller amendment to the 2018 Farm Bill. The amendment, introduced by Mary Miller (R-IL), aims to roll back the Farm Bill. Curaleaf's Executive Chairman, Boris Jordan, expressed disagreement with the amendment, emphasizing the company's support for hemp farmers and the importance of maintaining safety and age standards for hemp-derived products. Jordan advocated for a unified regulatory framework for all cannabinoids to combat illicit market dangers. Curaleaf remains committed to medical and adult-use cannabis consumers and community initiatives.
FAQ
What is the current stock price of CURALEAF HLDGS (CURLF)?
What is the market cap of CURALEAF HLDGS (CURLF)?
What is Curaleaf Holdings, Inc. known for?
Who are the key leaders at Curaleaf?
What recent acquisition has Curaleaf made?
Where does Curaleaf operate?
