- Curaleaf press release ( OTCPK:CURLF ): Q3 GAAP EPS of -$0.07.
- Revenue of $340M (+0.9% Y/Y).
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Third Quarter 2022 Adjusted EBITDA (1) of $84 Million, an increase of 18% YoY
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Generated $60 Million of Positive Operating Cash Flow in the Third Quarter and $71 Million in the First Nine Months of 2022.
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Boris Jordan, Founder and Executive Chairman of Curaleaf, commented, "Our record third quarter was punctuated by the close of our landmark acquisition of a majority stake in Four20 Pharma. Since quarter end, we also closed on the Tryke acquisition one I expect will further strengthen our position in Arizona, Nevada, and Utah. Despite unexpected revenue impacts in Florida and New Jersey, our revenue grew 1% sequentially, gross margin before the impact of biological assets was 49% and adjusted EBITDA was 25%. We generated $60 million in operating cash flow during the quarter, ending with $198 million in cash on the balance sheet. The fundamentals of our business remain solid, our early advantage in Europe is taking shape and we are preparing for the year ahead by looking closely at operational efficiencies and optimizing our current assets."
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Curaleaf GAAP EPS of -$0.07, revenue of $340M