The earnings call presented a mixed outlook with significant progress in debt restructuring and footprint optimization, but also highlighted challenges with revenue decline, negative cash flow, and liquidity constraints.

Company Guidance -

Q3 2025

During The Cannabist Company's First Quarter 2025 Earnings Conference Call, the company provided detailed guidance on its financial and operational strategies amid a challenging market environment. The call highlighted the successful approval of a debt restructuring transaction, which saw over 75% approval from senior noteholders, crucial for managing the upcoming maturity of $59.5 million of 6% senior secured notes due in June 2025. The company reported $87 million in revenue for Q1, with an adjusted EBITDA of $7.1 million and an adjusted EBITDA margin increase of over 200 basis points to 9.5%. Despite a challenging environment, the company achieved a 36% adjusted gross margin, up 50 basis points from the previous quarter. The Cannabist Company is actively optimizing its footprint, exiting several markets such as Washington, D.C., Florida, and California, and divesting underperforming assets. It maintains a focus on key markets like Colorado, Maryland, New Jersey, Ohio, and Virginia, and plans to open new stores in Ohio and Virginia in 2025. Furthermore, wholesale revenue increased by 3.5% sequentially, although wholesale gross margins declined, offset by improved retail gross margins. The company anticipates continued divestiture impacts and regulatory outcomes to influence future performance, with a projected mid- to high single-digit percent decline in revenue for Q2.

Debt Restructuring Approval

The company successfully received approval from over 75% of senior noteholders for the debt restructuring transaction, a crucial step towards improving financial stability.

Footprint Optimization Progress

The Cannabist Company made significant strides in footprint optimization by exiting underperforming markets such as Missouri, Utah, Puerto Rico, Washington D.C., Florida, and California, reducing active markets from 18 to 10.

New Store Openings and Brand Expansion

Opened a third dispensary in New Jersey; launched the 'dreamt' brand in Massachusetts, New Jersey, and Virginia, achieving notable success in Maryland.

Adjusted EBITDA Margin Improvement

The company reported an increase in adjusted EBITDA margin by more than 200 basis points sequentially to 9.5%, indicating slow but steady improvement.

Cannabist Company Holdings (CBSTF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CBSTF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2025	2025 (Q3)	-0.03 / -	0	―	―	―
Aug 07, 2025	2025 (Q2)	-0.16 / -0.16	-0.03	-433.33% (-0.13)
May 08, 2025	2025 (Q1)	-0.04 / -0.07	-0.08	12.50% (<+0.01)
Mar 13, 2025	2024 (Q4)	-0.03 / -0.34	-0.18	-88.89% (-0.16)
Nov 07, 2024	2024 (Q3)	-0.04 / 0.00	-0.09	―
Aug 08, 2024	2024 (Q2)	-0.05 / -0.03	-0.07	57.14% (+0.04)
May 09, 2024	2024 (Q1)	-0.05 / -0.08	-0.09	11.11% (<+0.01)
Mar 13, 2024	2023 (Q4)	-0.06 / -0.18	-0.75	76.00% (+0.57)
Nov 14, 2023	2023 (Q3)	-0.05 / -0.09	-0.09	0.00% (0.00)
Aug 14, 2023	2023 (Q2)	-0.06 / -0.07	-0.14	50.00% (+0.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CBSTF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$0.09	$0.10	+11.11%
May 08, 2025	$0.08	$0.07	-12.50%
Mar 13, 2025	$0.05	$0.04	-20.00%
Nov 07, 2024	$0.14	$0.14	0.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Cannabist Company Holdings (CBSTF) report earnings?

Cannabist Company Holdings (CBSTF) is schdueled to report earning on Nov 12, 2025, Before Open (Confirmed).

What is Cannabist Company Holdings (CBSTF) earnings time?

Cannabist Company Holdings (CBSTF) earnings time is at Nov 12, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CBSTF EPS forecast?

CBSTF EPS forecast for the fiscal quarter 2025 (Q3) is -0.03.

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