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Curaleaf Holdings (OTC) (TSE:CURA)
:CURA
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Curaleaf Holdings (CURA) AI Stock Analysis

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TSE:CURA

Curaleaf Holdings

(OTC:CURA)

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Neutral 44 (OpenAI - 4o)
Rating:44Neutral
Price Target:
C$3.00
▼(-28.57% Downside)
Curaleaf Holdings' overall stock score is primarily impacted by its financial performance challenges, including declining revenues and negative profitability. Technical analysis indicates a bearish trend, and valuation metrics are unattractive due to a negative P/E ratio. The earnings call provided some positive insights, particularly in international growth, but domestic challenges persist.
Positive Factors
International Growth
Strong international growth, particularly in the U.K. and Germany, indicates successful market expansion and diversification, which can provide a buffer against domestic challenges.
Improved Margins
Improved margins suggest better cost management and operational efficiency, enhancing profitability potential and financial resilience.
Strong Cash Flow
Strong cash generation supports liquidity and provides capital for strategic investments, crucial for sustaining growth and navigating market challenges.
Negative Factors
Price Compression Challenges
Price compression in the domestic market pressures margins and revenue, potentially limiting profitability and necessitating strategic adjustments.
Net Loss
The net loss reflects ongoing financial struggles, highlighting the need for improved cost control and revenue enhancement strategies to achieve profitability.
Domestic Revenue Decline
Declining domestic revenue suggests market saturation or competitive pressures, necessitating innovation and market repositioning to regain growth.

Curaleaf Holdings (CURA) vs. iShares MSCI Canada ETF (EWC)

Curaleaf Holdings Business Overview & Revenue Model

Company DescriptionCuraleaf Holdings, Inc. is a leading vertically integrated cannabis operator in the United States, specializing in the production, distribution, and sale of cannabis products. The company operates in multiple sectors of the cannabis industry, including cultivation, manufacturing, and retail. Curaleaf offers a diverse range of products, including cannabis flower, edibles, oils, and topicals, catering to both medical and adult-use markets across various states.
How the Company Makes MoneyCuraleaf generates revenue primarily through the sale of its cannabis products across its dispensary network and wholesale distribution to third-party retailers. The company's revenue model is supported by its extensive cultivation facilities, which allow for in-house production of a wide array of products, enhancing profit margins. Key revenue streams include retail sales from its dispensaries, where customers can purchase both medical and recreational cannabis, and wholesale sales to other dispensaries and retailers. Additionally, Curaleaf benefits from strategic partnerships and collaborations that enhance its market presence and distribution capabilities. The company's operations in states with established cannabis markets and its focus on expanding its footprint into new markets further contribute to its earnings potential.

Curaleaf Holdings Earnings Call Summary

Earnings Call Date:Nov 05, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Mar 10, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with solid growth and strong international performance, particularly in the U.K. and Germany, and improvements in cash flow and margins. However, ongoing challenges with price compression, domestic revenue declines, and a reported net loss indicate significant pressure in the domestic market. Overall, the highlights and lowlights are fairly balanced with a slight tilt towards positive due to international growth.
Q3-2025 Updates
Positive Updates
International Segment Growth
Curaleaf International segment delivered a 12% sequential growth and 56% year-over-year growth, driven by strength in the U.K. and Germany.
Improved Margins
Adjusted gross margins improved to 50%, an increase of 115 basis points both sequentially and versus the prior year.
Strong Cash Flow
Generated $53 million in operating cash flow and $37 million in free cash flow during the quarter.
Expansion in International Markets
Encouraging progress in Turkey, Spain, and France, with potential significant long-term runway for Curaleaf.
Innovation in Products
New products like Anthem pre-rolls and ACE oil gaining strong traction in the market.
Successful Debt Management
Closed on an upsized $100 million revolving credit line with Needham Bank.
Negative Updates
Price Compression Challenges
Ongoing macro pressure from price compression affecting the domestic segment.
Net Loss
Reported a net loss from continuing operations of $54.5 million or a loss of $0.07 per share.
Domestic Revenue Decline
Domestic revenue declined 9% compared to the same period last year, largely driven by price compression.
SG&A Expenses Increase
SG&A expenses were $110 million, an increase of $4 million from the year-ago period.
Company Guidance
During the Curaleaf Holdings Third Quarter 2025 Conference Call, the company provided several key metrics and projections indicating positive momentum despite macroeconomic pressures. The third quarter generated $320 million in revenue, marking a 2% sequential increase, while the international segment saw a robust 12% sequential and 56% year-over-year growth. Adjusted gross margins improved to 50%, rising by 115 basis points. Despite ongoing price compression, the domestic segment achieved modest growth, with a significant contribution from states like Ohio, New York, Utah, and Massachusetts. The company reported an adjusted EBITDA of $69 million, representing a 22% margin, inclusive of a 200 basis point drag from international and hemp operations. Curaleaf ended the quarter with $107 million in cash, after servicing $28 million in debt obligations, and generated $53 million in operating cash flow and $37 million in free cash flow. Looking ahead, the company anticipates a shift towards growth in 2026 and expects low single-digit revenue growth for the fourth quarter of 2025, driven by strategic investments and international expansion efforts.

Curaleaf Holdings Financial Statement Overview

Summary
Curaleaf Holdings faces significant financial challenges, with declining revenues, negative profitability, and cash flow constraints. While the balance sheet shows moderate leverage, the company's inability to generate positive returns and cash flow is a major concern for its financial health.
Income Statement
45
Neutral
Curaleaf Holdings has experienced declining revenue growth with a negative trend in net profit margins, indicating challenges in maintaining profitability. The gross profit margin remains moderate, but EBIT and EBITDA margins have shown volatility, reflecting operational inefficiencies.
Balance Sheet
50
Neutral
The company has a balanced debt-to-equity ratio close to 1, suggesting moderate leverage. However, the negative return on equity indicates that the company is not generating sufficient returns on shareholders' equity, which is a concern for investors.
Cash Flow
40
Negative
Curaleaf's cash flow situation is concerning, with negative free cash flow growth and low operating cash flow coverage ratios. The free cash flow to net income ratio indicates that the company struggles to convert earnings into free cash flow, highlighting liquidity issues.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.29B1.34B1.35B1.34B1.21B626.64M
Gross Profit625.61M639.25M614.45M579.03M687.59M390.51M
EBITDA220.14M233.14M238.76M220.97M278.98M128.59M
Net Income-244.34M-215.42M-281.20M-376.93M-109.13M-61.33M
Balance Sheet
Total Assets2.92B2.95B3.10B3.41B3.11B2.39B
Cash, Cash Equivalents and Short-Term Investments102.27M93.03M91.82M163.18M299.33M73.54M
Total Debt843.02M853.82M883.55M931.91M652.40M577.71M
Total Liabilities1.98B1.96B1.93B2.01B1.44B1.01B
Stockholders Equity871.30M861.21M1.05B1.28B1.55B1.38B
Cash Flow
Free Cash Flow49.54M64.42M5.05M-91.96M-205.92M-113.92M
Operating Cash Flow136.37M162.57M75.26M46.40M-33.96M12.36M
Investing Cash Flow-87.48M-93.83M-78.69M-228.62M-163.97M-197.11M
Financing Cash Flow-37.76M-54.24M-67.02M50.54M424.80M224.08M

Curaleaf Holdings Technical Analysis

Technical Analysis Sentiment
Negative
Last Price4.20
Price Trends
50DMA
3.87
Negative
100DMA
3.24
Negative
200DMA
2.32
Positive
Market Momentum
MACD
-0.25
Positive
RSI
33.59
Neutral
STOCH
5.45
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CURA, the sentiment is Negative. The current price of 4.2 is above the 20-day moving average (MA) of 3.73, above the 50-day MA of 3.87, and above the 200-day MA of 2.32, indicating a neutral trend. The MACD of -0.25 indicates Positive momentum. The RSI at 33.59 is Neutral, neither overbought nor oversold. The STOCH value of 5.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:CURA.

Curaleaf Holdings Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
65
Neutral
C$1.30B26.163.34%22.20%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
51
Neutral
C$1.41B-9.95%4.27%3.41%
47
Neutral
C$362.43M-10.76%23.87%-19.57%
45
Neutral
C$547.25M-11.79%-6.48%22.63%
44
Neutral
C$2.85B-27.61%-3.38%-31.35%
40
Neutral
C$545.32M-0.54-60.19%-0.67%58.98%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:CURA
Curaleaf Holdings
2.69
-0.26
-8.81%
TSE:WEED
Canopy Growth
1.48
-3.79
-71.92%
TSE:ACB
Aurora Cannabis
6.07
0.12
2.02%
TSE:CRON
Cronos Group
3.33
0.54
19.35%
TSE:TRUL
Trulieve Cannabis
6.61
-2.26
-25.48%
TSE:CL
Cresco Labs
0.99
-0.68
-40.72%

Curaleaf Holdings Corporate Events

Curaleaf Holdings’ Earnings Call: Mixed Sentiments with International Gains
Nov 7, 2025

Curaleaf Holdings’ recent earnings call painted a mixed picture, reflecting both promising growth and ongoing challenges. The sentiment was slightly positive, buoyed by strong international performance and improvements in cash flow and margins. However, the company continues to face significant pressure in the domestic market due to price compression and revenue declines, resulting in a reported net loss.

Curaleaf Holdings Reports Solid Q3 2025 Performance
Nov 6, 2025

Curaleaf Holdings, Inc. is a prominent international provider of cannabis consumer products, known for its extensive product range and presence across medical and adult-use markets. The company operates in the cannabis industry, offering a diverse portfolio that includes brands like Curaleaf, Select, and Grassroots.

Business Operations and StrategyFinancial Disclosures
Curaleaf Holdings Reports Q3 2025 Results: Revenue Growth and Strategic Expansion
Positive
Nov 5, 2025

Curaleaf Holdings reported a net revenue of $320 million for the third quarter of 2025, marking a 2% sequential increase despite a 3% year-over-year decline. The company’s international segment showed robust growth, with a 12% sequential and 56% year-over-year increase in revenue. The adjusted gross profit margin improved to 50%, and the company generated significant operating and free cash flow, ending the quarter with $107 million in cash. Curaleaf’s strategic initiatives, including the ‘Return to Our Roots’ plan, have positioned it for renewed domestic growth and rapid international expansion, despite ongoing macroeconomic challenges.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$4.00 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Curaleaf Secures Landmark $100 Million Credit Facility in Cannabis Sector
Positive
Oct 14, 2025

Curaleaf Holdings, Inc. has expanded its revolving credit facility with Needham Bank from $40 million to $100 million, marking the largest facility of its kind in the U.S. cannabis sector. This move reflects increased confidence from institutional lenders and is expected to enhance Curaleaf’s financial flexibility, support its strategic growth initiatives, and contribute to the broader acceptance of cannabis businesses in capital markets.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Curaleaf Announces Executive Securities Disposition Plan
Oct 2, 2025

On October 1, 2025, Curaleaf Holdings announced that its Executive Vice Chairman, Joseph F. Lusardi, established an automatic securities disposition plan (ASDP) effective September 30, 2025. This plan allows for the orderly exercise of options expiring in March 2026 and the sale of subordinate voting shares to cover taxes. The ASDP is designed to comply with U.S. and Canadian securities laws, enabling insiders to sell shares without possessing material undisclosed information. The sales will be conducted by an independent broker, with restrictions on Mr. Lusardi’s influence over the process, and will be reported in accordance with securities laws.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Regulatory Filings and Compliance
Curaleaf Announces Executive Securities Disposition Plan
Neutral
Oct 1, 2025

Curaleaf Holdings announced the establishment of an automatic securities disposition plan (ASDP) by its Executive Vice Chairman, Joseph F. Lusardi, to facilitate the orderly exercise of options expiring in March 2026 and the sale of some subordinate voting shares to cover taxes. This plan, compliant with U.S. and Canadian securities laws, allows insiders to sell shares according to pre-arranged instructions, ensuring transparency and compliance. The ASDP will be executed by an independent broker, with sales commencing in January 2026, potentially impacting the company’s stock liquidity and insider trading transparency.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Financial Disclosures
Curaleaf to Announce Q3 2025 Financial Results
Neutral
Sep 25, 2025

Curaleaf Holdings announced it will release its third-quarter 2025 financial and operational results on November 5, 2025, after market close. The announcement will be followed by a conference call and audio webcast, providing insights into the company’s operational and financial highlights. This release is significant for stakeholders as it offers an opportunity to gauge Curaleaf’s performance and strategic direction in the evolving cannabis market.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Curaleaf Joins S&P/TSX Composite Index, Boosting Cannabis Industry Credibility
Sep 9, 2025

Curaleaf Holdings, Inc. announced its inclusion in the S&P/TSX Composite Index under the Health Care sector, effective September 22, 2025. This milestone positions Curaleaf as the first U.S.-based cannabis operator in the index, enhancing its visibility and credibility in North American capital markets. The inclusion is seen as a pivotal moment for the company and the broader cannabis industry, reflecting growing legitimacy and long-term potential. It also expands Curaleaf’s access to institutional investment and index-linked vehicles, supporting its ongoing development and potential regulatory advancements.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Business Operations and StrategyDelistings and Listing Changes
Curaleaf Joins S&P/TSX Composite Index, Boosting Market Visibility
Positive
Sep 8, 2025

Curaleaf Holdings, Inc. has been included in the S&P/TSX Composite Index under the Health Care sector, marking a significant milestone as the first U.S.-based cannabis operator to join this prestigious index. This inclusion enhances Curaleaf’s visibility and credibility in North American capital markets, potentially increasing its access to institutional investments and index-linked vehicles, thereby supporting its growth and development in the evolving cannabis industry.

The most recent analyst rating on (TSE:CURA) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Curaleaf Holdings stock, see the TSE:CURA Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 16, 2025