| As of | |||||||||||
| June 30, 2026 | June 30, 2025 | ||||||||||
| Cash and cash equivalents | $ | 94,588\u00a0 | $ | 87,747\u00a0 | |||||||
| Restricted cash | 12,380\u00a0 | 14,522\u00a0 | |||||||||
| Total cash and cash equivalents and restricted cash | $ | 106,968\u00a0 | $ | 102,269\u00a0 |
| Asset class | Estimated useful lives | ||||
| Land | Indefinite life | ||||
Building and improvements(1) | 10-39 years | ||||
| Furniture and fixtures | 3-5 years | ||||
| Machinery and equipment | 3-7 years | ||||
| Information technology | 3-7 years | ||||
(1) Leasehold improvements are depreciated over the shorter of the asset\u2019s useful life or the remaining lease term. |
| Asset class | Estimated useful lives(1) | ||||
| Non-compete agreements | 1-15 years | ||||
| Trade names | 1-20 years | ||||
| Intellectual property and know-how | 5-15 years | ||||
| Licenses and service agreements | 5-30 years | ||||
| Customer relationships | 3 years | ||||
| Internal-use software | 3-7 years | ||||
(1) The Company holds no intangible assets with indefinite useful lives. |
| As of | |||||||||||
| June 30, 2026 | June 30, 2025 | ||||||||||
| Cash and cash equivalents | $ | 94,588\u00a0 | $ | 87,747\u00a0 | |||||||
| Restricted cash | 12,380\u00a0 | 14,522\u00a0 | |||||||||
| Total cash and cash equivalents and restricted cash | $ | 106,968\u00a0 | $ | 102,269\u00a0 |
| As of | |||||||||||
| June 30, 2026 | June 30, 2025 | ||||||||||
| Cash and cash equivalents | $ | 94,588\u00a0 | $ | 87,747\u00a0 | |||||||
| Restricted cash | 12,380\u00a0 | 14,522\u00a0 | |||||||||
| Total cash and cash equivalents and restricted cash | $ | 106,968\u00a0 | $ | 102,269\u00a0 |
| Asset class | Estimated useful lives | ||||
| Land | Indefinite life | ||||
Building and improvements(1) | 10-39 years | ||||
| Furniture and fixtures | 3-5 years | ||||
| Machinery and equipment | 3-7 years | ||||
| Information technology | 3-7 years | ||||
(1) Leasehold improvements are depreciated over the shorter of the asset\u2019s useful life or the remaining lease term. |
| Asset class | Estimated useful lives | ||||
| Land | Indefinite life | ||||
Building and improvements(1) | 10-39 years | ||||
| Furniture and fixtures | 3-5 years | ||||
| Machinery and equipment | 3-7 years | ||||
| Information technology | 3-7 years | ||||
(1) Leasehold improvements are depreciated over the shorter of the asset\u2019s useful life or the remaining lease term. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Land | $ | 12,937\u00a0 | $ | 12,937\u00a0 | |||||||
| Building and improvements | 564,292\u00a0 | 548,388\u00a0 | |||||||||
| Furniture and fixtures | 113,087\u00a0 | 108,750\u00a0 | |||||||||
| Machinery and equipment | 141,730\u00a0 | 133,648\u00a0 | |||||||||
| Information technology | 1,103\u00a0 | 27,668\u00a0 | |||||||||
| Construction in progress | 23,083\u00a0 | 22,618\u00a0 | |||||||||
| Property, plant and equipment, gross | 856,232\u00a0 | 854,009\u00a0 | |||||||||
| Less: Accumulated depreciation | (350,334) | (333,623) | |||||||||
| Property, plant and equipment, net | $ | 505,898\u00a0 | $ | 520,386\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
Depreciation expense(1): | |||||||||||||||||||||||
| Cost of goods sold | $ | 12,841\u00a0 | $ | 11,952\u00a0 | $ | 25,345\u00a0 | $ | 23,767\u00a0 | |||||||||||||||
| Operating expenses | 7,222\u00a0 | 9,100\u00a0 | 14,376\u00a0 | 18,463\u00a0 | |||||||||||||||||||
| Total depreciation expense | $ | 20,063\u00a0 | $ | 21,052\u00a0 | $ | 39,721\u00a0 | $ | 42,230\u00a0 | |||||||||||||||
(1) Includes depreciation expense associated with assets under failed sale and leaseback obligations. See Note 12 \u2014 Failed sale and leaseback arrangements for further detail. |
| Asset class | Estimated useful lives(1) | ||||
| Non-compete agreements | 1-15 years | ||||
| Trade names | 1-20 years | ||||
| Intellectual property and know-how | 5-15 years | ||||
| Licenses and service agreements | 5-30 years | ||||
| Customer relationships | 3 years | ||||
| Internal-use software | 3-7 years | ||||
(1) The Company holds no intangible assets with indefinite useful lives. |
| Asset class | Estimated useful lives(1) | ||||
| Non-compete agreements | 1-15 years | ||||
| Trade names | 1-20 years | ||||
| Intellectual property and know-how | 5-15 years | ||||
| Licenses and service agreements | 5-30 years | ||||
| Customer relationships | 3 years | ||||
| Internal-use software | 3-7 years | ||||
(1) The Company holds no intangible assets with indefinite useful lives. |
| As of June 30, 2026 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||
| Licenses and service agreements | $ | 1,311,933\u00a0 | $ | (463,952) | $ | 847,981\u00a0 | |||||||||||
| Trade names | 162,425\u00a0 | (70,204) | 92,221\u00a0 | ||||||||||||||
| Non-compete agreements | 25,145\u00a0 | (15,687) | 9,458\u00a0 | ||||||||||||||
| Intellectual property and know-how | 9,365\u00a0 | (4,682) | 4,683\u00a0 | ||||||||||||||
| Internal-use software | 2,319\u00a0 | (628) | 1,691\u00a0 | ||||||||||||||
| Customer relationships | 68\u00a0 | (28) | 40\u00a0 | ||||||||||||||
Intangible assets, net(1) | $ | 1,511,255\u00a0 | $ | (555,181) | $ | 956,074\u00a0 | |||||||||||
(1) Intangible assets held by the Company\u2019s international subsidiaries are subject to foreign currency translation adjustments. |
| As of December 31, 2025 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||
| Licenses and service agreements | $ | 1,318,987\u00a0 | $ | (422,887) | $ | 896,100\u00a0 | |||||||||||
| Trade names | 162,903\u00a0 | (65,877) | 97,026\u00a0 | ||||||||||||||
| Non-compete agreements | 25,244\u00a0 | (14,591) | 10,653\u00a0 | ||||||||||||||
| Intellectual property and know-how | 9,577\u00a0 | (3,790) | 5,787\u00a0 | ||||||||||||||
| Internal-use software | 1,716\u00a0 | (220) | 1,496\u00a0 | ||||||||||||||
| Customer relationships | 71\u00a0 | (18) | 53\u00a0 | ||||||||||||||
Intangible assets, net(1) | $ | 1,518,498\u00a0 | $ | (507,383) | $ | 1,011,115\u00a0 | |||||||||||
(1) Intangible assets held by the Company\u2019s international subsidiaries are subject to foreign currency translation adjustments. |
| Asset class: | Weighted Average Amortization (in years) | |||||||
| Licenses and service agreements | 11.57 | |||||||
| Trade names | 11.09 | |||||||
| Non-compete agreements | 4.87 | |||||||
| Internal-use software | 3.81 | |||||||
| Intellectual property and know-how | 2.50 | |||||||
| Customer relationships | 1.75 |
EMMAC(1) | NGC(2) | Total | |||||||||||||||
| Total contingent consideration liability, December 31, 2024 | $ | 2,837\u00a0 | $ | 3,310\u00a0 | $ | 6,147\u00a0 | |||||||||||
| Cash payments of contingent consideration | \u2014\u00a0 | (3,236) | (3,236) | ||||||||||||||
| Issuance of SVS as settlement of contingent consideration | \u2014\u00a0 | (497) | (497) | ||||||||||||||
| Revaluation of contingent consideration | 306\u00a0 | 335\u00a0 | 641\u00a0 | ||||||||||||||
| Effect of exchange rate differences | 215\u00a0 | \u2014\u00a0 | 215\u00a0 | ||||||||||||||
| Gain (loss) on contingent consideration not paid | \u2014\u00a0 | 88\u00a0 | 88\u00a0 | ||||||||||||||
| Total contingent consideration liability, December 31, 2025 | 3,358\u00a0 | \u2014\u00a0 | 3,358\u00a0 | ||||||||||||||
| Revaluation of contingent consideration | 572\u00a0 | \u2014\u00a0 | 572\u00a0 | ||||||||||||||
| Effect of exchange rate differences | (51) | \u2014\u00a0 | (51) | ||||||||||||||
Total contingent consideration liability, June\u00a030, 2026 | 3,879\u00a0 | \u2014\u00a0 | 3,879\u00a0 | ||||||||||||||
| 'Contingent consideration liability - net of current | $ | 3,879\u00a0 | $ | \u2014\u00a0 | $ | 3,879\u00a0 | |||||||||||
(1) Contingent on the ability of Curaleaf International Holdings Limited (\"Curaleaf International\") to obtain a recreational cannabis license in Europe, payable in both cash and SVS upon achievement. | |||||||||||||||||
(2) Contingent obligation was tied to Northern Green Canada (\"NGC\") achieving certain margin targets during the fiscal year ending December\u00a031, 2024. |
Tryke(1) | NRPC(2) | Curaleaf Poland(3) | Four20 Pharma (5) | Other(4) | Total | ||||||||||||||||||||||||||||||
| Total deferred consideration liability, December 31, 2024 | $ | 32,564\u00a0 | $ | 2,000\u00a0 | $ | 504\u00a0 | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 35,068\u00a0 | |||||||||||||||||||||||
| Deferred consideration recognized on acquisition | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 920\u00a0 | 920\u00a0 | |||||||||||||||||||||||||||||
| Accretion of interest on deferred consideration | 2,436\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 2,436\u00a0 | |||||||||||||||||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | \u2014\u00a0 | 17\u00a0 | \u2014\u00a0 | 46\u00a0 | 63\u00a0 | |||||||||||||||||||||||||||||
| Change in fair value on deferred consideration paid | \u2014\u00a0 | \u2014\u00a0 | (46) | \u2014\u00a0 | \u2014\u00a0 | (46) | |||||||||||||||||||||||||||||
| Issuance of SVS as settlements of deferred consideration | \u2014\u00a0 | \u2014\u00a0 | (77) | \u2014\u00a0 | \u2014\u00a0 | (77) | |||||||||||||||||||||||||||||
| Cash payments of deferred consideration | (35,000) | \u2014\u00a0 | (398) | \u2014\u00a0 | \u2014\u00a0 | (35,398) | |||||||||||||||||||||||||||||
| Total deferred consideration liability, December 31, 2025 | \u2014\u00a0 | 2,000\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 966\u00a0 | 2,966\u00a0 | |||||||||||||||||||||||||||||
| Deferred consideration recognized on acquisition | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 14,197\u00a0 | \u2014\u00a0 | 14,197\u00a0 | |||||||||||||||||||||||||||||
| Accretion of interest on deferred consideration | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 139\u00a0 | 184\u00a0 | 323\u00a0 | |||||||||||||||||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | (309) | (17) | (326) | |||||||||||||||||||||||||||||
| Post-closing purchase price adjustment | \u2014\u00a0 | (182) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | (182) | |||||||||||||||||||||||||||||
| Cash payments of deferred consideration | \u2014\u00a0 | (618) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | (618) | |||||||||||||||||||||||||||||
| Total deferred consideration liability, June 30, 2026 | \u2014\u00a0 | 1,200\u00a0 | \u2014\u00a0 | 14,027\u00a0 | 1,133\u00a0 | 16,360\u00a0 | |||||||||||||||||||||||||||||
| Less: Deferred consideration liability - current | \u2014\u00a0 | (1,075) | \u2014\u00a0 | (14,027) | (1,133) | (16,235) | |||||||||||||||||||||||||||||
| Deferred consideration liability as of June 30, 2026 | $ | \u2014\u00a0 | $ | 125\u00a0 | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 125\u00a0 | |||||||||||||||||||||||
(1) Related to the second and third anniversary payment due from the Company to the sellers of Tryke that was settled-in-full by October 2025. | |||||||||||||||||||||||||||||||||||
(2) Represents amounts withheld in connection with the acquisition of Natural Remedy Patient Center LLC (\"NRPC\") as security for indemnification obligations. In January 2026, upon receipt of a final, non-appealable order, the $2.0\u00a0million holdback became payable. The Company retained $1.2\u00a0million for potential tax exposure (scheduled for release in August 2026 and August 2027, subject to IRS claims) and deducted legal fees incurred during the litigation as permitted under the purchase agreement. The remaining amount, net of the tax holdback and legal fees, was paid in February 2026. | |||||||||||||||||||||||||||||||||||
(3) Related to Curaleaf Poland\u2019s achievement of certain earnings metrics during the fiscal year ending December\u00a031, 2024. On April 14, 2025, the Company settled this obligation through a cash payment of $0.4\u00a0million and the issuance of 32,017 SVS. | |||||||||||||||||||||||||||||||||||
(4) Incurred in connection with an individually immaterial acquisition consummated during the second quarter of 2025 within the Company\u2019s international operations. | |||||||||||||||||||||||||||||||||||
(5) Represents cash consideration of $14.2 million withheld in connection with the acquisition of the remainder of Four20 Pharma GmbH (\"Four20 Pharma). Refer to Note 18 \u2014 Temporary equity and redeemable non-controlling interests for further details. |
EMMAC(1) | NGC(2) | Total | |||||||||||||||
| Total contingent consideration liability, December 31, 2024 | $ | 2,837\u00a0 | $ | 3,310\u00a0 | $ | 6,147\u00a0 | |||||||||||
| Cash payments of contingent consideration | \u2014\u00a0 | (3,236) | (3,236) | ||||||||||||||
| Issuance of SVS as settlement of contingent consideration | \u2014\u00a0 | (497) | (497) | ||||||||||||||
| Revaluation of contingent consideration | 306\u00a0 | 335\u00a0 | 641\u00a0 | ||||||||||||||
| Effect of exchange rate differences | 215\u00a0 | \u2014\u00a0 | 215\u00a0 | ||||||||||||||
| Gain (loss) on contingent consideration not paid | \u2014\u00a0 | 88\u00a0 | 88\u00a0 | ||||||||||||||
| Total contingent consideration liability, December 31, 2025 | 3,358\u00a0 | \u2014\u00a0 | 3,358\u00a0 | ||||||||||||||
| Revaluation of contingent consideration | 572\u00a0 | \u2014\u00a0 | 572\u00a0 | ||||||||||||||
| Effect of exchange rate differences | (51) | \u2014\u00a0 | (51) | ||||||||||||||
Total contingent consideration liability, June\u00a030, 2026 | 3,879\u00a0 | \u2014\u00a0 | 3,879\u00a0 | ||||||||||||||
| 'Contingent consideration liability - net of current | $ | 3,879\u00a0 | $ | \u2014\u00a0 | $ | 3,879\u00a0 | |||||||||||
(1) Contingent on the ability of Curaleaf International Holdings Limited (\"Curaleaf International\") to obtain a recreational cannabis license in Europe, payable in both cash and SVS upon achievement. | |||||||||||||||||
(2) Contingent obligation was tied to Northern Green Canada (\"NGC\") achieving certain margin targets during the fiscal year ending December\u00a031, 2024. |
Tryke(1) | NRPC(2) | Curaleaf Poland(3) | Four20 Pharma (5) | Other(4) | Total | ||||||||||||||||||||||||||||||
| Total deferred consideration liability, December 31, 2024 | $ | 32,564\u00a0 | $ | 2,000\u00a0 | $ | 504\u00a0 | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 35,068\u00a0 | |||||||||||||||||||||||
| Deferred consideration recognized on acquisition | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 920\u00a0 | 920\u00a0 | |||||||||||||||||||||||||||||
| Accretion of interest on deferred consideration | 2,436\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 2,436\u00a0 | |||||||||||||||||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | \u2014\u00a0 | 17\u00a0 | \u2014\u00a0 | 46\u00a0 | 63\u00a0 | |||||||||||||||||||||||||||||
| Change in fair value on deferred consideration paid | \u2014\u00a0 | \u2014\u00a0 | (46) | \u2014\u00a0 | \u2014\u00a0 | (46) | |||||||||||||||||||||||||||||
| Issuance of SVS as settlements of deferred consideration | \u2014\u00a0 | \u2014\u00a0 | (77) | \u2014\u00a0 | \u2014\u00a0 | (77) | |||||||||||||||||||||||||||||
| Cash payments of deferred consideration | (35,000) | \u2014\u00a0 | (398) | \u2014\u00a0 | \u2014\u00a0 | (35,398) | |||||||||||||||||||||||||||||
| Total deferred consideration liability, December 31, 2025 | \u2014\u00a0 | 2,000\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 966\u00a0 | 2,966\u00a0 | |||||||||||||||||||||||||||||
| Deferred consideration recognized on acquisition | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 14,197\u00a0 | \u2014\u00a0 | 14,197\u00a0 | |||||||||||||||||||||||||||||
| Accretion of interest on deferred consideration | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 139\u00a0 | 184\u00a0 | 323\u00a0 | |||||||||||||||||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | (309) | (17) | (326) | |||||||||||||||||||||||||||||
| Post-closing purchase price adjustment | \u2014\u00a0 | (182) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | (182) | |||||||||||||||||||||||||||||
| Cash payments of deferred consideration | \u2014\u00a0 | (618) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | (618) | |||||||||||||||||||||||||||||
| Total deferred consideration liability, June 30, 2026 | \u2014\u00a0 | 1,200\u00a0 | \u2014\u00a0 | 14,027\u00a0 | 1,133\u00a0 | 16,360\u00a0 | |||||||||||||||||||||||||||||
| Less: Deferred consideration liability - current | \u2014\u00a0 | (1,075) | \u2014\u00a0 | (14,027) | (1,133) | (16,235) | |||||||||||||||||||||||||||||
| Deferred consideration liability as of June 30, 2026 | $ | \u2014\u00a0 | $ | 125\u00a0 | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 125\u00a0 | |||||||||||||||||||||||
(1) Related to the second and third anniversary payment due from the Company to the sellers of Tryke that was settled-in-full by October 2025. | |||||||||||||||||||||||||||||||||||
(2) Represents amounts withheld in connection with the acquisition of Natural Remedy Patient Center LLC (\"NRPC\") as security for indemnification obligations. In January 2026, upon receipt of a final, non-appealable order, the $2.0\u00a0million holdback became payable. The Company retained $1.2\u00a0million for potential tax exposure (scheduled for release in August 2026 and August 2027, subject to IRS claims) and deducted legal fees incurred during the litigation as permitted under the purchase agreement. The remaining amount, net of the tax holdback and legal fees, was paid in February 2026. | |||||||||||||||||||||||||||||||||||
(3) Related to Curaleaf Poland\u2019s achievement of certain earnings metrics during the fiscal year ending December\u00a031, 2024. On April 14, 2025, the Company settled this obligation through a cash payment of $0.4\u00a0million and the issuance of 32,017 SVS. | |||||||||||||||||||||||||||||||||||
(4) Incurred in connection with an individually immaterial acquisition consummated during the second quarter of 2025 within the Company\u2019s international operations. | |||||||||||||||||||||||||||||||||||
(5) Represents cash consideration of $14.2 million withheld in connection with the acquisition of the remainder of Four20 Pharma GmbH (\"Four20 Pharma). Refer to Note 18 \u2014 Temporary equity and redeemable non-controlling interests for further details. |
| Discontinued Operations | ||||||||
| Hemp Business | $ | 151\u00a0 | ||||||
| Held for Sale Entities | ||||||||
| Phytoscience Management Group, Inc. | $ | (1,096) | ||||||
North Shore Assets(1) | $ | (841) | ||||||
Acres Assets(2) | $ | 17,539\u00a0 | ||||||
| Rokshaw Limited (\"Rokshaw\")\u2019s noncannabis operation | \u00a3 | 2,558\u00a0 | ||||||
(1) On April 10, 2025, the Company completed the sale of its North Shore Assets, having received all required regulatory approvals. | ||||||||
(2) Refer to Note 9 \u2014 Notes\u00a0receivable for further discussion. |
| Assets held for sale | Discontinued Operations | Held for Sale Entities | Total | ||||||||||||||
| Balance at December 31, 2024 | $ | 15,653\u00a0 | $ | \u2014\u00a0 | $ | 15,653\u00a0 | |||||||||||
| Transferred (out) in, net | (12,355) | 383\u00a0 | (11,972) | ||||||||||||||
| Balance at December 31, 2025 | 3,298\u00a0 | 383\u00a0 | 3,681\u00a0 | ||||||||||||||
| Transferred out, net | (489) | (383) | (872) | ||||||||||||||
| Balance at June 30, 2026 | $ | 2,809\u00a0 | $ | \u2014\u00a0 | $ | 2,809\u00a0 |
| Liabilities associated with assets held for sale | Discontinued Operations | Held for Sale Entities | Total | ||||||||||||||
| Balance at December 31, 2024 | $ | 8,471\u00a0 | $ | 434\u00a0 | $ | 8,905\u00a0 | |||||||||||
| Transferred out, net | (1,398) | (434) | (1,832) | ||||||||||||||
| Balance at December 31, 2025 | 7,073\u00a0 | \u2014\u00a0 | 7,073\u00a0 | ||||||||||||||
| Transferred (out) in, net | (287) | \u2014\u00a0 | (287) | ||||||||||||||
| Balance at June 30, 2026 | $ | 6,786\u00a0 | $ | \u2014\u00a0 | $ | 6,786\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
| Prepaid expenses and other current assets | $ | 8\u00a0 | $ | 278\u00a0 | |||||||
| Total current assets | 8\u00a0 | 278\u00a0 | |||||||||
Deferred tax asset(1) | 2,801\u00a0 | 3,020\u00a0 | |||||||||
| Total non-current assets | 2,801\u00a0 | 3,020\u00a0 | |||||||||
| Total assets | $ | 2,809\u00a0 | $ | 3,298\u00a0 | |||||||
| Liabilities | |||||||||||
Accrued expenses(2) | $ | 6,786\u00a0 | $ | 7,060\u00a0 | |||||||
| Lease liabilities, operating - current | \u2014\u00a0 | 13\u00a0 | |||||||||
| Total current liabilities | $ | 6,786\u00a0 | $ | 7,073\u00a0 | |||||||
| Total liabilities | $ | 6,786\u00a0 | $ | 7,073\u00a0 | |||||||
(1) Deferred tax asset is primarily a result of the formal dissolution of certain legal entities classified as discontinued operations. | |||||||||||
(2) Consists primarily of accrued litigation contingencies. See Note 26 \u2014 Commitments and contingencies for additional information. |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Total revenues, net | $ | (7) | $ | 3,935\u00a0 | $ | 1,404\u00a0 | $ | 7,318\u00a0 | |||||||||||||||
| Cost of goods sold | 157\u00a0 | 4,465\u00a0 | 1,016\u00a0 | 8,241\u00a0 | |||||||||||||||||||
| Gross (loss) profit | (164) | (530) | 388\u00a0 | (923) | |||||||||||||||||||
| Total operating expenses | (60) | 2,702\u00a0 | 451\u00a0 | 4,468\u00a0 | |||||||||||||||||||
| Loss from operations | (104) | (3,232) | (63) | (5,391) | |||||||||||||||||||
| Total other income (expense), net | 151\u00a0 | 334\u00a0 | (173) | 1,033\u00a0 | |||||||||||||||||||
| Income (Loss) before provision for income taxes | 47\u00a0 | (2,898) | (236) | (4,358) | |||||||||||||||||||
Provision for income taxes(1) | (16) | (2,597) | (26) | (11,330) | |||||||||||||||||||
| Net income (loss) from discontinued operations | $ | 31\u00a0 | $ | (5,495) | $ | (262) | $ | (15,688) | |||||||||||||||
(1) Provision for income taxes is primarily a result of the formal dissolution of certain legal entities classified as discontinued operations. |
| Discontinued Operations | ||||||||
| Hemp Business | $ | 151\u00a0 | ||||||
| Held for Sale Entities | ||||||||
| Phytoscience Management Group, Inc. | $ | (1,096) | ||||||
North Shore Assets(1) | $ | (841) | ||||||
Acres Assets(2) | $ | 17,539\u00a0 | ||||||
| Rokshaw Limited (\"Rokshaw\")\u2019s noncannabis operation | \u00a3 | 2,558\u00a0 | ||||||
(1) On April 10, 2025, the Company completed the sale of its North Shore Assets, having received all required regulatory approvals. | ||||||||
(2) Refer to Note 9 \u2014 Notes\u00a0receivable for further discussion. |
| Assets held for sale | Discontinued Operations | Held for Sale Entities | Total | ||||||||||||||
| Balance at December 31, 2024 | $ | 15,653\u00a0 | $ | \u2014\u00a0 | $ | 15,653\u00a0 | |||||||||||
| Transferred (out) in, net | (12,355) | 383\u00a0 | (11,972) | ||||||||||||||
| Balance at December 31, 2025 | 3,298\u00a0 | 383\u00a0 | 3,681\u00a0 | ||||||||||||||
| Transferred out, net | (489) | (383) | (872) | ||||||||||||||
| Balance at June 30, 2026 | $ | 2,809\u00a0 | $ | \u2014\u00a0 | $ | 2,809\u00a0 |
| Liabilities associated with assets held for sale | Discontinued Operations | Held for Sale Entities | Total | ||||||||||||||
| Balance at December 31, 2024 | $ | 8,471\u00a0 | $ | 434\u00a0 | $ | 8,905\u00a0 | |||||||||||
| Transferred out, net | (1,398) | (434) | (1,832) | ||||||||||||||
| Balance at December 31, 2025 | 7,073\u00a0 | \u2014\u00a0 | 7,073\u00a0 | ||||||||||||||
| Transferred (out) in, net | (287) | \u2014\u00a0 | (287) | ||||||||||||||
| Balance at June 30, 2026 | $ | 6,786\u00a0 | $ | \u2014\u00a0 | $ | 6,786\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
| Prepaid expenses and other current assets | $ | 8\u00a0 | $ | 278\u00a0 | |||||||
| Total current assets | 8\u00a0 | 278\u00a0 | |||||||||
Deferred tax asset(1) | 2,801\u00a0 | 3,020\u00a0 | |||||||||
| Total non-current assets | 2,801\u00a0 | 3,020\u00a0 | |||||||||
| Total assets | $ | 2,809\u00a0 | $ | 3,298\u00a0 | |||||||
| Liabilities | |||||||||||
Accrued expenses(2) | $ | 6,786\u00a0 | $ | 7,060\u00a0 | |||||||
| Lease liabilities, operating - current | \u2014\u00a0 | 13\u00a0 | |||||||||
| Total current liabilities | $ | 6,786\u00a0 | $ | 7,073\u00a0 | |||||||
| Total liabilities | $ | 6,786\u00a0 | $ | 7,073\u00a0 | |||||||
(1) Deferred tax asset is primarily a result of the formal dissolution of certain legal entities classified as discontinued operations. | |||||||||||
(2) Consists primarily of accrued litigation contingencies. See Note 26 \u2014 Commitments and contingencies for additional information. |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Total revenues, net | $ | (7) | $ | 3,935\u00a0 | $ | 1,404\u00a0 | $ | 7,318\u00a0 | |||||||||||||||
| Cost of goods sold | 157\u00a0 | 4,465\u00a0 | 1,016\u00a0 | 8,241\u00a0 | |||||||||||||||||||
| Gross (loss) profit | (164) | (530) | 388\u00a0 | (923) | |||||||||||||||||||
| Total operating expenses | (60) | 2,702\u00a0 | 451\u00a0 | 4,468\u00a0 | |||||||||||||||||||
| Loss from operations | (104) | (3,232) | (63) | (5,391) | |||||||||||||||||||
| Total other income (expense), net | 151\u00a0 | 334\u00a0 | (173) | 1,033\u00a0 | |||||||||||||||||||
| Income (Loss) before provision for income taxes | 47\u00a0 | (2,898) | (236) | (4,358) | |||||||||||||||||||
Provision for income taxes(1) | (16) | (2,597) | (26) | (11,330) | |||||||||||||||||||
| Net income (loss) from discontinued operations | $ | 31\u00a0 | $ | (5,495) | $ | (262) | $ | (15,688) | |||||||||||||||
(1) Provision for income taxes is primarily a result of the formal dissolution of certain legal entities classified as discontinued operations. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Trade accounts receivable | $ | 70,611\u00a0 | $ | 73,864\u00a0 | |||||||
| Other receivables | 6,278\u00a0 | 5,092\u00a0 | |||||||||
| Accounts receivable, gross | 76,889\u00a0 | 78,956\u00a0 | |||||||||
| Less: Allowance for credit losses | (1,982) | (2,617) | |||||||||
| Accounts receivable, net | $ | 74,907\u00a0 | $ | 76,339\u00a0 |
| Allowance for credit losses as of December 31, 2024 | $ | (2,722) | |||
| Provision | (977) | ||||
| Charge-offs and recoveries | 1,135\u00a0 | ||||
| Effect of exchange rate differences | (53) | ||||
| Allowance for credit losses as of December 31, 2025 | (2,617) | ||||
| Provision | (159) | ||||
| Charge-offs and recoveries | 783\u00a0 | ||||
| Effect of exchange rate differences | 11\u00a0 | ||||
| Allowance for credit losses as of June 30, 2026 | $ | (1,982) |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Trade accounts receivable | $ | 70,611\u00a0 | $ | 73,864\u00a0 | |||||||
| Other receivables | 6,278\u00a0 | 5,092\u00a0 | |||||||||
| Accounts receivable, gross | 76,889\u00a0 | 78,956\u00a0 | |||||||||
| Less: Allowance for credit losses | (1,982) | (2,617) | |||||||||
| Accounts receivable, net | $ | 74,907\u00a0 | $ | 76,339\u00a0 |
| Allowance for credit losses as of December 31, 2024 | $ | (2,722) | |||
| Provision | (977) | ||||
| Charge-offs and recoveries | 1,135\u00a0 | ||||
| Effect of exchange rate differences | (53) | ||||
| Allowance for credit losses as of December 31, 2025 | (2,617) | ||||
| Provision | (159) | ||||
| Charge-offs and recoveries | 783\u00a0 | ||||
| Effect of exchange rate differences | 11\u00a0 | ||||
| Allowance for credit losses as of June 30, 2026 | $ | (1,982) |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Raw materials: | |||||||||||
| Cannabis | $ | 43,764\u00a0 | $ | 38,885\u00a0 | |||||||
| Non-Cannabis | 24,366\u00a0 | 20,029\u00a0 | |||||||||
| Total raw materials | 68,130\u00a0 | 58,914\u00a0 | |||||||||
| Work-in-process | 56,525\u00a0 | 67,996\u00a0 | |||||||||
| Finished goods | 120,069\u00a0 | 98,112\u00a0 | |||||||||
| Inventories | $ | 244,724\u00a0 | $ | 225,022\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Inventory reserve | $ | (10,285) | $ | (10,223) |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Inventory write-downs | $ | (1,576) | $ | (361) | $ | (2,148) | $ | (676) |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Raw materials: | |||||||||||
| Cannabis | $ | 43,764\u00a0 | $ | 38,885\u00a0 | |||||||
| Non-Cannabis | 24,366\u00a0 | 20,029\u00a0 | |||||||||
| Total raw materials | 68,130\u00a0 | 58,914\u00a0 | |||||||||
| Work-in-process | 56,525\u00a0 | 67,996\u00a0 | |||||||||
| Finished goods | 120,069\u00a0 | 98,112\u00a0 | |||||||||
| Inventories | $ | 244,724\u00a0 | $ | 225,022\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Inventory reserve | $ | (10,285) | $ | (10,223) |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Inventory write-downs | $ | (1,576) | $ | (361) | $ | (2,148) | $ | (676) |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Notes receivable \u2013 current | $ | 7,368\u00a0 | $ | 4,629\u00a0 | |||||||
| Notes receivable \u2013 net of current | 834\u00a0 | 2,980\u00a0 | |||||||||
| Total notes receivable | $ | 8,202\u00a0 | $ | 7,609\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Notes receivable \u2013 current | $ | 7,368\u00a0 | $ | 4,629\u00a0 | |||||||
| Notes receivable \u2013 net of current | 834\u00a0 | 2,980\u00a0 | |||||||||
| Total notes receivable | $ | 8,202\u00a0 | $ | 7,609\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Land | $ | 12,937\u00a0 | $ | 12,937\u00a0 | |||||||
| Building and improvements | 564,292\u00a0 | 548,388\u00a0 | |||||||||
| Furniture and fixtures | 113,087\u00a0 | 108,750\u00a0 | |||||||||
| Machinery and equipment | 141,730\u00a0 | 133,648\u00a0 | |||||||||
| Information technology | 1,103\u00a0 | 27,668\u00a0 | |||||||||
| Construction in progress | 23,083\u00a0 | 22,618\u00a0 | |||||||||
| Property, plant and equipment, gross | 856,232\u00a0 | 854,009\u00a0 | |||||||||
| Less: Accumulated depreciation | (350,334) | (333,623) | |||||||||
| Property, plant and equipment, net | $ | 505,898\u00a0 | $ | 520,386\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
Depreciation expense(1): | |||||||||||||||||||||||
| Cost of goods sold | $ | 12,841\u00a0 | $ | 11,952\u00a0 | $ | 25,345\u00a0 | $ | 23,767\u00a0 | |||||||||||||||
| Operating expenses | 7,222\u00a0 | 9,100\u00a0 | 14,376\u00a0 | 18,463\u00a0 | |||||||||||||||||||
| Total depreciation expense | $ | 20,063\u00a0 | $ | 21,052\u00a0 | $ | 39,721\u00a0 | $ | 42,230\u00a0 | |||||||||||||||
(1) Includes depreciation expense associated with assets under failed sale and leaseback obligations. See Note 12 \u2014 Failed sale and leaseback arrangements for further detail. |
| As of | |||||||||||||||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||||||||||||||
| Finance Leases | Operating Leases | Finance Leases | Operating Leases | ||||||||||||||||||||
| ROU assets: | |||||||||||||||||||||||
| ROU assets, gross | $ | 203,468\u00a0 | $ | 190,651\u00a0 | $ | 186,943\u00a0 | $ | 178,904\u00a0 | |||||||||||||||
| Accumulated amortization | (95,554) | (69,135) | (89,344) | (65,630) | |||||||||||||||||||
| Total ROU assets, net | $ | 107,914\u00a0 | $ | 121,516\u00a0 | $ | 97,599\u00a0 | $ | 113,274\u00a0 | |||||||||||||||
| Lease liabilities: | |||||||||||||||||||||||
| Lease liabilities - current | $ | 15,228\u00a0 | $ | 20,366\u00a0 | $ | 11,684\u00a0 | $ | 19,837\u00a0 | |||||||||||||||
| Lease liabilities - net of current | 152,453\u00a0 | 109,622\u00a0 | 144,446\u00a0 | 102,346\u00a0 | |||||||||||||||||||
| Total lease liabilities | $ | 167,681\u00a0 | $ | 129,988\u00a0 | $ | 156,130\u00a0 | $ | 122,183\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Finance lease expense: | |||||||||||||||||||||||
| Amortization of ROU assets | |||||||||||||||||||||||
| Cost of goods sold | $ | 1,756\u00a0 | $ | 1,662\u00a0 | $ | 3,440\u00a0 | $ | 3,362\u00a0 | |||||||||||||||
| Operating expenses | 1,600\u00a0 | 1,400\u00a0 | 3,035\u00a0 | 2,707\u00a0 | |||||||||||||||||||
| Total amortization of ROU assets | 3,356\u00a0 | 3,062\u00a0 | 6,475\u00a0 | 6,069\u00a0 | |||||||||||||||||||
| Interest on finance lease liabilities | 4,249\u00a0 | 4,438\u00a0 | 8,497\u00a0 | 8,887\u00a0 | |||||||||||||||||||
| Total finance lease expense | 7,605\u00a0 | 7,500\u00a0 | 14,972\u00a0 | 14,956\u00a0 | |||||||||||||||||||
Operating lease expense(1) | 8,299\u00a0 | 8,834\u00a0 | 16,298\u00a0 | 16,210\u00a0 | |||||||||||||||||||
| Short-term lease expense | 374 | 686\u00a0 | 1,156\u00a0 | 1,630\u00a0 | |||||||||||||||||||
| Total lease expense | $ | 16,278\u00a0 | $ | 17,020\u00a0 | $ | 32,426\u00a0 | $ | 32,796\u00a0 | |||||||||||||||
(1) Includes $0.1 million and $0.2 million of sublease income as a net reduction of rent expense for the three and six months ended June\u00a030, 2026, respectively and less than $0.1 million for the three and six months ended June 30, 2025. |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Operating cash flows from operating leases | $ | (16,259) | $ | (15,374) | |||||||
| Operating cash flows from finance leases | (8,497) | (8,887) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Financing cash flows from finance leases | (6,031) | (4,952) | |||||||||
| Net cash flows from leasing arrangements | $ | (30,787) | $ | (29,213) |
| As of | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Weighted average remaining lease term (in years) - finance leases | 8.4 | 10.0 | ||||||
| Weighted average remaining lease term (in years) - operating leases | 6.4 | 6.3 | ||||||
| Weighted average discount rate - finance leases | 10.6\u00a0 | % | 11.2\u00a0 | % | ||||
| Weighted average discount rate - operating leases | 10.3\u00a0 | % | 10.9\u00a0 | % |
| Fiscal Year | Operating Leases | Finance Leases | |||||||||
| 2026 (six months remaining) | $ | 15,897\u00a0 | $ | 15,870\u00a0 | |||||||
| 2027 | 32,131\u00a0 | 32,533\u00a0 | |||||||||
| 2028 | 30,067\u00a0 | 32,150\u00a0 | |||||||||
| 2029 | 26,410\u00a0 | 32,201\u00a0 | |||||||||
| 2030 | 21,976\u00a0 | 31,694\u00a0 | |||||||||
| 2031 and thereafter | 53,018\u00a0 | 124,038\u00a0 | |||||||||
| Total undiscounted remaining minimum lease payments | 179,499\u00a0 | 268,486\u00a0 | |||||||||
| Less: imputed interest | (49,511) | (100,805) | |||||||||
| Total discounted remaining minimum lease payments | $ | 129,988\u00a0 | $ | 167,681\u00a0 |
| As of | |||||||||||||||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||||||||||||||
| Finance Leases | Operating Leases | Finance Leases | Operating Leases | ||||||||||||||||||||
| ROU assets: | |||||||||||||||||||||||
| ROU assets, gross | $ | 203,468\u00a0 | $ | 190,651\u00a0 | $ | 186,943\u00a0 | $ | 178,904\u00a0 | |||||||||||||||
| Accumulated amortization | (95,554) | (69,135) | (89,344) | (65,630) | |||||||||||||||||||
| Total ROU assets, net | $ | 107,914\u00a0 | $ | 121,516\u00a0 | $ | 97,599\u00a0 | $ | 113,274\u00a0 | |||||||||||||||
| Lease liabilities: | |||||||||||||||||||||||
| Lease liabilities - current | $ | 15,228\u00a0 | $ | 20,366\u00a0 | $ | 11,684\u00a0 | $ | 19,837\u00a0 | |||||||||||||||
| Lease liabilities - net of current | 152,453\u00a0 | 109,622\u00a0 | 144,446\u00a0 | 102,346\u00a0 | |||||||||||||||||||
| Total lease liabilities | $ | 167,681\u00a0 | $ | 129,988\u00a0 | $ | 156,130\u00a0 | $ | 122,183\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Finance lease expense: | |||||||||||||||||||||||
| Amortization of ROU assets | |||||||||||||||||||||||
| Cost of goods sold | $ | 1,756\u00a0 | $ | 1,662\u00a0 | $ | 3,440\u00a0 | $ | 3,362\u00a0 | |||||||||||||||
| Operating expenses | 1,600\u00a0 | 1,400\u00a0 | 3,035\u00a0 | 2,707\u00a0 | |||||||||||||||||||
| Total amortization of ROU assets | 3,356\u00a0 | 3,062\u00a0 | 6,475\u00a0 | 6,069\u00a0 | |||||||||||||||||||
| Interest on finance lease liabilities | 4,249\u00a0 | 4,438\u00a0 | 8,497\u00a0 | 8,887\u00a0 | |||||||||||||||||||
| Total finance lease expense | 7,605\u00a0 | 7,500\u00a0 | 14,972\u00a0 | 14,956\u00a0 | |||||||||||||||||||
Operating lease expense(1) | 8,299\u00a0 | 8,834\u00a0 | 16,298\u00a0 | 16,210\u00a0 | |||||||||||||||||||
| Short-term lease expense | 374 | 686\u00a0 | 1,156\u00a0 | 1,630\u00a0 | |||||||||||||||||||
| Total lease expense | $ | 16,278\u00a0 | $ | 17,020\u00a0 | $ | 32,426\u00a0 | $ | 32,796\u00a0 | |||||||||||||||
(1) Includes $0.1 million and $0.2 million of sublease income as a net reduction of rent expense for the three and six months ended June\u00a030, 2026, respectively and less than $0.1 million for the three and six months ended June 30, 2025. |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Operating cash flows from operating leases | $ | (16,259) | $ | (15,374) | |||||||
| Operating cash flows from finance leases | (8,497) | (8,887) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Financing cash flows from finance leases | (6,031) | (4,952) | |||||||||
| Net cash flows from leasing arrangements | $ | (30,787) | $ | (29,213) |
| As of | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Weighted average remaining lease term (in years) - finance leases | 8.4 | 10.0 | ||||||
| Weighted average remaining lease term (in years) - operating leases | 6.4 | 6.3 | ||||||
| Weighted average discount rate - finance leases | 10.6\u00a0 | % | 11.2\u00a0 | % | ||||
| Weighted average discount rate - operating leases | 10.3\u00a0 | % | 10.9\u00a0 | % |
| Fiscal Year | Operating Leases | Finance Leases | |||||||||
| 2026 (six months remaining) | $ | 15,897\u00a0 | $ | 15,870\u00a0 | |||||||
| 2027 | 32,131\u00a0 | 32,533\u00a0 | |||||||||
| 2028 | 30,067\u00a0 | 32,150\u00a0 | |||||||||
| 2029 | 26,410\u00a0 | 32,201\u00a0 | |||||||||
| 2030 | 21,976\u00a0 | 31,694\u00a0 | |||||||||
| 2031 and thereafter | 53,018\u00a0 | 124,038\u00a0 | |||||||||
| Total undiscounted remaining minimum lease payments | 179,499\u00a0 | 268,486\u00a0 | |||||||||
| Less: imputed interest | (49,511) | (100,805) | |||||||||
| Total discounted remaining minimum lease payments | $ | 129,988\u00a0 | $ | 167,681\u00a0 |
| As of | |||||||||||||||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||||||||||||||
| Finance Leases | Operating Leases | Finance Leases | Operating Leases | ||||||||||||||||||||
| ROU assets: | |||||||||||||||||||||||
| ROU assets, gross | $ | 203,468\u00a0 | $ | 190,651\u00a0 | $ | 186,943\u00a0 | $ | 178,904\u00a0 | |||||||||||||||
| Accumulated amortization | (95,554) | (69,135) | (89,344) | (65,630) | |||||||||||||||||||
| Total ROU assets, net | $ | 107,914\u00a0 | $ | 121,516\u00a0 | $ | 97,599\u00a0 | $ | 113,274\u00a0 | |||||||||||||||
| Lease liabilities: | |||||||||||||||||||||||
| Lease liabilities - current | $ | 15,228\u00a0 | $ | 20,366\u00a0 | $ | 11,684\u00a0 | $ | 19,837\u00a0 | |||||||||||||||
| Lease liabilities - net of current | 152,453\u00a0 | 109,622\u00a0 | 144,446\u00a0 | 102,346\u00a0 | |||||||||||||||||||
| Total lease liabilities | $ | 167,681\u00a0 | $ | 129,988\u00a0 | $ | 156,130\u00a0 | $ | 122,183\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Finance lease expense: | |||||||||||||||||||||||
| Amortization of ROU assets | |||||||||||||||||||||||
| Cost of goods sold | $ | 1,756\u00a0 | $ | 1,662\u00a0 | $ | 3,440\u00a0 | $ | 3,362\u00a0 | |||||||||||||||
| Operating expenses | 1,600\u00a0 | 1,400\u00a0 | 3,035\u00a0 | 2,707\u00a0 | |||||||||||||||||||
| Total amortization of ROU assets | 3,356\u00a0 | 3,062\u00a0 | 6,475\u00a0 | 6,069\u00a0 | |||||||||||||||||||
| Interest on finance lease liabilities | 4,249\u00a0 | 4,438\u00a0 | 8,497\u00a0 | 8,887\u00a0 | |||||||||||||||||||
| Total finance lease expense | 7,605\u00a0 | 7,500\u00a0 | 14,972\u00a0 | 14,956\u00a0 | |||||||||||||||||||
Operating lease expense(1) | 8,299\u00a0 | 8,834\u00a0 | 16,298\u00a0 | 16,210\u00a0 | |||||||||||||||||||
| Short-term lease expense | 374 | 686\u00a0 | 1,156\u00a0 | 1,630\u00a0 | |||||||||||||||||||
| Total lease expense | $ | 16,278\u00a0 | $ | 17,020\u00a0 | $ | 32,426\u00a0 | $ | 32,796\u00a0 | |||||||||||||||
(1) Includes $0.1 million and $0.2 million of sublease income as a net reduction of rent expense for the three and six months ended June\u00a030, 2026, respectively and less than $0.1 million for the three and six months ended June 30, 2025. |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Operating cash flows from operating leases | $ | (16,259) | $ | (15,374) | |||||||
| Operating cash flows from finance leases | (8,497) | (8,887) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Financing cash flows from finance leases | (6,031) | (4,952) | |||||||||
| Net cash flows from leasing arrangements | $ | (30,787) | $ | (29,213) |
| As of | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Weighted average remaining lease term (in years) - finance leases | 8.4 | 10.0 | ||||||
| Weighted average remaining lease term (in years) - operating leases | 6.4 | 6.3 | ||||||
| Weighted average discount rate - finance leases | 10.6\u00a0 | % | 11.2\u00a0 | % | ||||
| Weighted average discount rate - operating leases | 10.3\u00a0 | % | 10.9\u00a0 | % |
| Fiscal Year | Operating Leases | Finance Leases | |||||||||
| 2026 (six months remaining) | $ | 15,897\u00a0 | $ | 15,870\u00a0 | |||||||
| 2027 | 32,131\u00a0 | 32,533\u00a0 | |||||||||
| 2028 | 30,067\u00a0 | 32,150\u00a0 | |||||||||
| 2029 | 26,410\u00a0 | 32,201\u00a0 | |||||||||
| 2030 | 21,976\u00a0 | 31,694\u00a0 | |||||||||
| 2031 and thereafter | 53,018\u00a0 | 124,038\u00a0 | |||||||||
| Total undiscounted remaining minimum lease payments | 179,499\u00a0 | 268,486\u00a0 | |||||||||
| Less: imputed interest | (49,511) | (100,805) | |||||||||
| Total discounted remaining minimum lease payments | $ | 129,988\u00a0 | $ | 167,681\u00a0 |
| Fiscal Year | Operating Leases | Finance Leases | |||||||||
| 2026 (six months remaining) | $ | 15,897\u00a0 | $ | 15,870\u00a0 | |||||||
| 2027 | 32,131\u00a0 | 32,533\u00a0 | |||||||||
| 2028 | 30,067\u00a0 | 32,150\u00a0 | |||||||||
| 2029 | 26,410\u00a0 | 32,201\u00a0 | |||||||||
| 2030 | 21,976\u00a0 | 31,694\u00a0 | |||||||||
| 2031 and thereafter | 53,018\u00a0 | 124,038\u00a0 | |||||||||
| Total undiscounted remaining minimum lease payments | 179,499\u00a0 | 268,486\u00a0 | |||||||||
| Less: imputed interest | (49,511) | (100,805) | |||||||||
| Total discounted remaining minimum lease payments | $ | 129,988\u00a0 | $ | 167,681\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Property, plant and equipment, net | |||||||||||
Financed property and equipment, net of accumulated depreciation of $82.6\u00a0million and $76.1\u00a0million, respectively | $ | 118,207\u00a0 | $ | 124,708\u00a0 | |||||||
| Financial obligation: | |||||||||||
| Financial obligation - current | 10,138\u00a0 | 7,238\u00a0 | |||||||||
| Financial obligation - net of current | 195,431\u00a0 | 202,901\u00a0 | |||||||||
| Total financial obligation | $ | 205,569\u00a0 | $ | 210,139\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Interest on financial obligations | $ | 5,644\u00a0 | $ | 6,636\u00a0 | $ | 11,899\u00a0 | $ | 13,271\u00a0 | |||||||||||||||
| Depreciation on financed property, plant and equipment | 3,323\u00a0 | 3,192\u00a0 | 6,502\u00a0 | 6,697\u00a0 | |||||||||||||||||||
| Total expense associated with failed sale and leaseback arrangements | $ | 8,967\u00a0 | $ | 9,828\u00a0 | $ | 18,401\u00a0 | $ | 19,968\u00a0 |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Operating cash flows from failed sale and leaseback arrangements | $ | (11,899) | $ | (13,271) | |||||||
| Cash flows from financing activities: | |||||||||||
| Financing cash flows from failed sale and leaseback financial obligations | (4,570) | (2,763) | |||||||||
| Net cash flows from failed sale and leaseback arrangements | $ | (16,469) | $ | (16,034) |
| Fiscal Year | Financial Obligations | |||||||
| 2026 (six months remaining) | $ | 16,670\u00a0 | ||||||
| 2027 | 31,006\u00a0 | |||||||
| 2028 | 31,841\u00a0 | |||||||
| 2029 | 30,497\u00a0 | |||||||
| 2030 | 29,459\u00a0 | |||||||
| 2031 and thereafter | 204,870\u00a0 | |||||||
| Total undiscounted remaining minimum payments | 344,343\u00a0 | |||||||
| Less: imputed interest | (138,774) | |||||||
| Total discounted remaining minimum payments | $ | 205,569\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Property, plant and equipment, net | |||||||||||
Financed property and equipment, net of accumulated depreciation of $82.6\u00a0million and $76.1\u00a0million, respectively | $ | 118,207\u00a0 | $ | 124,708\u00a0 | |||||||
| Financial obligation: | |||||||||||
| Financial obligation - current | 10,138\u00a0 | 7,238\u00a0 | |||||||||
| Financial obligation - net of current | 195,431\u00a0 | 202,901\u00a0 | |||||||||
| Total financial obligation | $ | 205,569\u00a0 | $ | 210,139\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Interest on financial obligations | $ | 5,644\u00a0 | $ | 6,636\u00a0 | $ | 11,899\u00a0 | $ | 13,271\u00a0 | |||||||||||||||
| Depreciation on financed property, plant and equipment | 3,323\u00a0 | 3,192\u00a0 | 6,502\u00a0 | 6,697\u00a0 | |||||||||||||||||||
| Total expense associated with failed sale and leaseback arrangements | $ | 8,967\u00a0 | $ | 9,828\u00a0 | $ | 18,401\u00a0 | $ | 19,968\u00a0 |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Operating cash flows from failed sale and leaseback arrangements | $ | (11,899) | $ | (13,271) | |||||||
| Cash flows from financing activities: | |||||||||||
| Financing cash flows from failed sale and leaseback financial obligations | (4,570) | (2,763) | |||||||||
| Net cash flows from failed sale and leaseback arrangements | $ | (16,469) | $ | (16,034) |
| Fiscal Year | Financial Obligations | |||||||
| 2026 (six months remaining) | $ | 16,670\u00a0 | ||||||
| 2027 | 31,006\u00a0 | |||||||
| 2028 | 31,841\u00a0 | |||||||
| 2029 | 30,497\u00a0 | |||||||
| 2030 | 29,459\u00a0 | |||||||
| 2031 and thereafter | 204,870\u00a0 | |||||||
| Total undiscounted remaining minimum payments | 344,343\u00a0 | |||||||
| Less: imputed interest | (138,774) | |||||||
| Total discounted remaining minimum payments | $ | 205,569\u00a0 |
| As of June 30, 2026 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||
| Licenses and service agreements | $ | 1,311,933\u00a0 | $ | (463,952) | $ | 847,981\u00a0 | |||||||||||
| Trade names | 162,425\u00a0 | (70,204) | 92,221\u00a0 | ||||||||||||||
| Non-compete agreements | 25,145\u00a0 | (15,687) | 9,458\u00a0 | ||||||||||||||
| Intellectual property and know-how | 9,365\u00a0 | (4,682) | 4,683\u00a0 | ||||||||||||||
| Internal-use software | 2,319\u00a0 | (628) | 1,691\u00a0 | ||||||||||||||
| Customer relationships | 68\u00a0 | (28) | 40\u00a0 | ||||||||||||||
Intangible assets, net(1) | $ | 1,511,255\u00a0 | $ | (555,181) | $ | 956,074\u00a0 | |||||||||||
(1) Intangible assets held by the Company\u2019s international subsidiaries are subject to foreign currency translation adjustments. |
| As of December 31, 2025 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||
| Licenses and service agreements | $ | 1,318,987\u00a0 | $ | (422,887) | $ | 896,100\u00a0 | |||||||||||
| Trade names | 162,903\u00a0 | (65,877) | 97,026\u00a0 | ||||||||||||||
| Non-compete agreements | 25,244\u00a0 | (14,591) | 10,653\u00a0 | ||||||||||||||
| Intellectual property and know-how | 9,577\u00a0 | (3,790) | 5,787\u00a0 | ||||||||||||||
| Internal-use software | 1,716\u00a0 | (220) | 1,496\u00a0 | ||||||||||||||
| Customer relationships | 71\u00a0 | (18) | 53\u00a0 | ||||||||||||||
Intangible assets, net(1) | $ | 1,518,498\u00a0 | $ | (507,383) | $ | 1,011,115\u00a0 | |||||||||||
(1) Intangible assets held by the Company\u2019s international subsidiaries are subject to foreign currency translation adjustments. |
| Fiscal Year | Estimated Amortization | |||||||
| 2026 (full 12 months) | $ | 100,568\u00a0 | ||||||
| 2027 | 99,289\u00a0 | |||||||
| 2028 | 95,645\u00a0 | |||||||
| 2029 | 89,506\u00a0 | |||||||
| 2030 | 86,450\u00a0 |
| Asset class: | Weighted Average Amortization (in years) | |||||||
| Licenses and service agreements | 11.57 | |||||||
| Trade names | 11.09 | |||||||
| Non-compete agreements | 4.87 | |||||||
| Internal-use software | 3.81 | |||||||
| Intellectual property and know-how | 2.50 | |||||||
| Customer relationships | 1.75 |
| Domestic | International | Total | |||||||||||||||
| Balance at December 31, 2024 | $ | 551,181\u00a0 | $ | 77,703\u00a0 | $ | 628,884\u00a0 | |||||||||||
Acquisitions (1) | \u2014\u00a0 | 1,328\u00a0 | 1,328\u00a0 | ||||||||||||||
| Measurement period adjustment | \u2014\u00a0 | (3,984) | (3,984) | ||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | 8,889\u00a0 | 8,889\u00a0 | ||||||||||||||
Balance at December\u00a031, 2025 | 551,181\u00a0 | 83,936\u00a0 | 635,117\u00a0 | ||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | (2,095) | (2,095) | ||||||||||||||
Balance at June\u00a030, 2026 | $ | 551,181\u00a0 | $ | 81,841\u00a0 | $ | 633,022\u00a0 | |||||||||||
(1) Incurred in connection with an individually immaterial acquisition consummated during the second quarter of 2025 within the Company's international operations. |
| Fiscal Year | Estimated Amortization | |||||||
| 2026 (full 12 months) | $ | 100,568\u00a0 | ||||||
| 2027 | 99,289\u00a0 | |||||||
| 2028 | 95,645\u00a0 | |||||||
| 2029 | 89,506\u00a0 | |||||||
| 2030 | 86,450\u00a0 |
| Domestic | International | Total | |||||||||||||||
| Balance at December 31, 2024 | $ | 551,181\u00a0 | $ | 77,703\u00a0 | $ | 628,884\u00a0 | |||||||||||
Acquisitions (1) | \u2014\u00a0 | 1,328\u00a0 | 1,328\u00a0 | ||||||||||||||
| Measurement period adjustment | \u2014\u00a0 | (3,984) | (3,984) | ||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | 8,889\u00a0 | 8,889\u00a0 | ||||||||||||||
Balance at December\u00a031, 2025 | 551,181\u00a0 | 83,936\u00a0 | 635,117\u00a0 | ||||||||||||||
| Effect of exchange rate differences | \u2014\u00a0 | (2,095) | (2,095) | ||||||||||||||
Balance at June\u00a030, 2026 | $ | 551,181\u00a0 | $ | 81,841\u00a0 | $ | 633,022\u00a0 | |||||||||||
(1) Incurred in connection with an individually immaterial acquisition consummated during the second quarter of 2025 within the Company's international operations. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
Security deposits(1) | $ | 11,064\u00a0 | $ | 11,082\u00a0 | |||||||
Prepaid expenses(2) | 4,899\u00a0 | \u2014\u00a0 | |||||||||
Other assets(3) | 2,055\u00a0 | 2,051\u00a0 | |||||||||
Investments(4) | 361\u00a0 | 263\u00a0 | |||||||||
| Total other assets \u2014 net of current | $ | 18,379\u00a0 | $ | 13,396\u00a0 | |||||||
(1) Represents security deposits for certain lease arrangements. | |||||||||||
(2) Represents prepaid SaaS and hosting subscription fees, along with capitalized implementation costs. See Note 3 \u2014 Significant accounting policies for further detail. | |||||||||||
(3) Represents deferred financing fees related to the Amended Needham LOC (as defined in Note 16 \u2014 Notes payable and debt). | |||||||||||
(4) Represents an equity investment in a social equity collective. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
Security deposits(1) | $ | 11,064\u00a0 | $ | 11,082\u00a0 | |||||||
Prepaid expenses(2) | 4,899\u00a0 | \u2014\u00a0 | |||||||||
Other assets(3) | 2,055\u00a0 | 2,051\u00a0 | |||||||||
Investments(4) | 361\u00a0 | 263\u00a0 | |||||||||
| Total other assets \u2014 net of current | $ | 18,379\u00a0 | $ | 13,396\u00a0 | |||||||
(1) Represents security deposits for certain lease arrangements. | |||||||||||
(2) Represents prepaid SaaS and hosting subscription fees, along with capitalized implementation costs. See Note 3 \u2014 Significant accounting policies for further detail. | |||||||||||
(3) Represents deferred financing fees related to the Amended Needham LOC (as defined in Note 16 \u2014 Notes payable and debt). | |||||||||||
(4) Represents an equity investment in a social equity collective. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Accrued payroll expenses | $ | 36,413\u00a0 | $ | 41,861\u00a0 | |||||||
| Interest payable | 21,307\u00a0 | 1,704\u00a0 | |||||||||
| Accrued inventory expenses | 10,265\u00a0 | 12,196\u00a0 | |||||||||
Professional services and legal matters(1) | 9,969\u00a0 | 12,078\u00a0 | |||||||||
| Accrued occupancy and technology expenses | 7,457\u00a0 | 5,422\u00a0 | |||||||||
| Sales taxes payable | 7,134\u00a0 | 7,754\u00a0 | |||||||||
| Accrued loyalty payable | 5,479\u00a0 | 4,986\u00a0 | |||||||||
| Excise taxes payable | 4,758\u00a0 | 4,347\u00a0 | |||||||||
| Accrued marketing expenses | 2,866 | 2,788\u00a0 | |||||||||
| Property and other taxes payable | 2,704\u00a0 | 1,480\u00a0 | |||||||||
| Deferred revenue | 1,205\u00a0 | 634\u00a0 | |||||||||
| Other accrued expenses | 12,615\u00a0 | 15,243\u00a0 | |||||||||
| Total accrued expenses | $ | 122,172\u00a0 | $ | 110,493\u00a0 | |||||||
(1) Includes amounts recognized for legal contingencies. See Note 26 \u2014 Commitments and contingencies for additional information. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Accrued payroll expenses | $ | 36,413\u00a0 | $ | 41,861\u00a0 | |||||||
| Interest payable | 21,307\u00a0 | 1,704\u00a0 | |||||||||
| Accrued inventory expenses | 10,265\u00a0 | 12,196\u00a0 | |||||||||
Professional services and legal matters(1) | 9,969\u00a0 | 12,078\u00a0 | |||||||||
| Accrued occupancy and technology expenses | 7,457\u00a0 | 5,422\u00a0 | |||||||||
| Sales taxes payable | 7,134\u00a0 | 7,754\u00a0 | |||||||||
| Accrued loyalty payable | 5,479\u00a0 | 4,986\u00a0 | |||||||||
| Excise taxes payable | 4,758\u00a0 | 4,347\u00a0 | |||||||||
| Accrued marketing expenses | 2,866 | 2,788\u00a0 | |||||||||
| Property and other taxes payable | 2,704\u00a0 | 1,480\u00a0 | |||||||||
| Deferred revenue | 1,205\u00a0 | 634\u00a0 | |||||||||
| Other accrued expenses | 12,615\u00a0 | 15,243\u00a0 | |||||||||
| Total accrued expenses | $ | 122,172\u00a0 | $ | 110,493\u00a0 | |||||||
(1) Includes amounts recognized for legal contingencies. See Note 26 \u2014 Commitments and contingencies for additional information. |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Senior Secured Notes \u2013 2029 | $ | 500,000\u00a0 | $ | \u2014\u00a0 | |||||||
| Senior Secured Notes \u2013 2027 | 43,494\u00a0 | 56,597\u00a0 | |||||||||
| Senior Secured Notes \u2013 2026 | \u2014\u00a0 | 456,815\u00a0 | |||||||||
| Amended Needham LOC | 52,000\u00a0 | 21,910\u00a0 | |||||||||
| ABL Facility \u2013 EWB | 12,000\u00a0 | 12,000\u00a0 | |||||||||
| Seller note payable | 3,952\u00a0 | 4,093\u00a0 | |||||||||
| Other notes payable | 7,820\u00a0 | 3,308\u00a0 | |||||||||
| Less: Unamortized debt discount and deferred financing fees | (7,725) | (6,071) | |||||||||
| Notes payable, net of unamortized debt discount and deferred financing fees | 611,541\u00a0 | 548,652\u00a0 | |||||||||
| Less: Notes\u00a0payable - current | (41,009) | (35,730) | |||||||||
| Notes\u00a0payable - net of current | $ | 570,532\u00a0 | $ | 512,922\u00a0 |
| Credit facility | Original facility size | Outstanding balance | Stated interest rate(11) | Maturity date | ||||||||||||||||||||||
| Senior Secured Notes \u2013 2029 | $ | 500,000\u00a0 | $ | 500,000\u00a0 | 11.50% | February 18, 2029 | ||||||||||||||||||||
| Senior Secured Notes \u2013 2027 | 67,000\u00a0 | 43,494\u00a0 | 10.00% | (5) | December 17, 2027 | |||||||||||||||||||||
Senior Secured Notes \u2013 2026(9) | 475,000\u00a0 | \u2014\u00a0 | 8.00% | (4) | December 15, 2026 | (9) | ||||||||||||||||||||
Amended Needham LOC(2)(10) | 100,000\u00a0 | 52,000\u00a0 | 8.99% | (6)(10) | February 18, 2029 | (10) | ||||||||||||||||||||
| ABL Facility - EWB Note | 12,000\u00a0 | 12,000\u00a0 | 6.00% | (7) | August 25, 2026 | |||||||||||||||||||||
Seller note payable - Scottsdale Note(3) | 5,100\u00a0 | 3,952\u00a0 | 5.00% | (8) | December 1, 2036 | |||||||||||||||||||||
Other notes payable - miscellaneous(1) | 11,870\u00a0 | 7,820\u00a0 | Various | Various | ||||||||||||||||||||||
| Total | $ | 1,170,970\u00a0 | $ | 619,266\u00a0 | ||||||||||||||||||||||
(1) Comprised of various immaterial loans held by Curaleaf International. | ||||||||||||||||||||||||||
(2) In October 2025, the total borrowing capacity under the Needham LOC was increased from $40.0 million to $100.0 million; see section herein titled \"Needham Bank\" for additional information. | ||||||||||||||||||||||||||
(3) The Company has a seller note payable incurred in connection with the Company\u2019s purchase of a building in Scottsdale, Arizona (the \u201cScottsdale Note\u201d). | ||||||||||||||||||||||||||
(4) Compounded semi-annually and payable in arrears on June 15th and December 15th of each year. | ||||||||||||||||||||||||||
(5) Compounded monthly and computed daily on the basis of a 360-day year for the actual number of days elapsed for a period of time. Interest and principal payments are payable in arrears and due on the 17th of each month. | ||||||||||||||||||||||||||
(6) Calculated on the basis of a 360-day year. Interest is due on the 6th of each month. | ||||||||||||||||||||||||||
(7) Calculated on the basis of a 360-day year for the actual number of days elapsed for any period of time. Interest is due on the 25th of each month. | ||||||||||||||||||||||||||
(8) Compounded monthly and computed daily on the basis of a 360-day year for the actual number of days elapsed for a period of time. Interest and principal payments are payable in arrears and due on the 23rd of each month. | ||||||||||||||||||||||||||
(9) In February 2026, the Company closed on a private placement of senior secured notes for aggregate gross proceeds of $500.0 million due February\u00a018, 2029. Net proceeds were used to fully repay the Senior Secured Notes \u2013 2026. | ||||||||||||||||||||||||||
(10) In conjunction with the origination of the Senior Secured Notes \u2013 2029, the maturity date of the Amended Needham LOC was extended to February\u00a018, 2029, and the interest rate was amended to 8.99% in accordance with the terms of the Amended and Restated Needham Loan Agreement. | ||||||||||||||||||||||||||
(11) The weighted-average interest rate aligns with the stated interest rates of all credit facilities, except for the miscellaneous category, the impact of which is immaterial. |
| Three months ended June 30, 2026 | Six months ended June 30, 2026 | ||||||||||||||||||||||||||||||||||||||||
| Credit facility | Effective interest rate | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | ||||||||||||||||||||||||||||||||||
| Senior Secured Notes \u2013 2029 | 12.16% | $ | 14,336\u00a0 | $ | 602\u00a0 | $ | 14,938\u00a0 | $ | 20,795\u00a0 | $ | 849\u00a0 | $ | 21,644\u00a0 | ||||||||||||||||||||||||||||
| Senior Secured Notes \u2013 2027 | 10.69% | 1,187\u00a0 | 113\u00a0 | 1,300\u00a0 | 2,525\u00a0 | 194\u00a0 | 2,719\u00a0 | ||||||||||||||||||||||||||||||||||
| Senior Secured Notes \u2013 2026 | 9.30% | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 4,906\u00a0 | 717\u00a0 | 5,623\u00a0 | ||||||||||||||||||||||||||||||||||
| Amended Needham LOC | 8.99% | 766\u00a0 | 192\u00a0 | 958\u00a0 | 1,034\u00a0 | 752\u00a0 | 1,786\u00a0 | ||||||||||||||||||||||||||||||||||
| ABL Facility - EWB Note | 6.00% | 182\u00a0 | \u2014\u00a0 | 182\u00a0 | 362\u00a0 | \u2014\u00a0 | 362\u00a0 | ||||||||||||||||||||||||||||||||||
| Seller notes payable - Scottsdale Note | 5.00% | 50\u00a0 | \u2014\u00a0 | 50\u00a0 | 101\u00a0 | \u2014\u00a0 | 101\u00a0 | ||||||||||||||||||||||||||||||||||
| Other notes payable - miscellaneous | various | 63\u00a0 | \u2014\u00a0 | 63\u00a0 | 102\u00a0 | \u2014\u00a0 | 102\u00a0 | ||||||||||||||||||||||||||||||||||
| $ | 16,584\u00a0 | $ | 907\u00a0 | $ | 17,491\u00a0 | $ | 29,825\u00a0 | $ | 2,512\u00a0 | $ | 32,337\u00a0 | ||||||||||||||||||||||||||||||
(1) Total interest expense herein does not encompass interest expense recognized on the Company\u2019s deferred consideration obligations. For the three and six months ended June\u00a030, 2026, the Company recognized interest expense of $0.2 million and $0.3 million, respectively, on its deferred consideration obligations. See Note 4 \u2014 Acquisitions for additional information. |
| Three months ended June 30, 2025 | Six months ended June 30, 2025 | ||||||||||||||||||||||
| Effective interest rate | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | |||||||||||||||||
| Senior Secured Notes \u2013 2026 | 9.30\u00a0 | % | $ | 9,175\u00a0 | $ | 1,327\u00a0 | $ | 10,502\u00a0 | $ | 18,249\u00a0 | $ | 2,442\u00a0 | $ | 20,691\u00a0 | |||||||||
| Senior Secured Notes \u2013 2027 | 10.69\u00a0 | % | 1,904\u00a0 | 94\u00a0 | 1,998\u00a0 | 3,128\u00a0 | 146\u00a0 | 3,274\u00a0 | |||||||||||||||
| Bloom Notes \u2013 2025 | 10.36\u00a0 | % | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 127\u00a0 | 200\u00a0 | 327\u00a0 | |||||||||||||||
| Bloom Notes \u2013 2024 | 10.00\u00a0 | % | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 78\u00a0 | \u2014\u00a0 | 78\u00a0 | |||||||||||||||
| Needham LOC | 7.99\u00a0 | % | 274\u00a0 | 227\u00a0 | 501\u00a0 | 631\u00a0 | 571\u00a0 | 1,202\u00a0 | |||||||||||||||
| ABL Facility - EWB Note | 6.00% | 182\u00a0 | 45\u00a0 | 227\u00a0 | 376\u00a0 | 45\u00a0 | 421\u00a0 | ||||||||||||||||
| Other notes payable - BHH Note | 15.00% | 280\u00a0 | \u2014\u00a0 | 280\u00a0 | 558\u00a0 | \u2014\u00a0 | 558\u00a0 | ||||||||||||||||
| Seller notes payable - Scottsdale Note | 5.00% | 54\u00a0 | \u2014\u00a0 | 54\u00a0 | 115\u00a0 | \u2014\u00a0 | 115\u00a0 | ||||||||||||||||
| Other notes payable - miscellaneous | various | 44\u00a0 | \u2014\u00a0 | 44\u00a0 | 87\u00a0 | \u2014\u00a0 | 87\u00a0 | ||||||||||||||||
| Other notes payable - VOWL Note | 4.25% | 19\u00a0 | \u2014\u00a0 | 19\u00a0 | 47\u00a0 | \u2014\u00a0 | 47\u00a0 | ||||||||||||||||
| Other notes payable - NGC Note | 12.00\u00a0 | % | 48\u00a0 | \u2014\u00a0 | 48\u00a0 | 95\u00a0 | \u2014\u00a0 | 95\u00a0 | |||||||||||||||
| $ | 11,980\u00a0 | $ | 1,693\u00a0 | $ | 13,673\u00a0 | $ | 23,491\u00a0 | $ | 3,404\u00a0 | $ | 26,895\u00a0 | ||||||||||||
(1) Total interest expense herein does not encompass interest expense recognized on the Company\u2019s deferred consideration obligations. For the three and six months ended June\u00a030, 2025, the Company recognized interest expense of $1.0 million and $1.9 million, respectively, on its deferred consideration obligations. See Note 4 \u2014 Acquisitions for additional information. |
| Fiscal year: | Amount | ||||
| 2026 (six months remaining) | $ | 28,739\u00a0 | |||
| 2027 | 30,996\u00a0 | ||||
| 2028 | 1,419\u00a0 | ||||
| 2029 | 553,317\u00a0 | ||||
2030 and thereafter | 4,795\u00a0 | ||||
| Total future principal maturities | $ | 619,266\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Carrying Value | $ | 619,266\u00a0 | $ | 554,723\u00a0 | |||||||
| Fair Value | 638,655\u00a0 | 546,068\u00a0 |
| Loan year | Prepayment redemption prices | ||||
August 18, 2027 to February 17, 2028 | 105.8% | ||||
February 17, 2028 and thereafter | 100.0% |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Senior Secured Notes \u2013 2029 | $ | 500,000\u00a0 | $ | \u2014\u00a0 | |||||||
| Senior Secured Notes \u2013 2027 | 43,494\u00a0 | 56,597\u00a0 | |||||||||
| Senior Secured Notes \u2013 2026 | \u2014\u00a0 | 456,815\u00a0 | |||||||||
| Amended Needham LOC | 52,000\u00a0 | 21,910\u00a0 | |||||||||
| ABL Facility \u2013 EWB | 12,000\u00a0 | 12,000\u00a0 | |||||||||
| Seller note payable | 3,952\u00a0 | 4,093\u00a0 | |||||||||
| Other notes payable | 7,820\u00a0 | 3,308\u00a0 | |||||||||
| Less: Unamortized debt discount and deferred financing fees | (7,725) | (6,071) | |||||||||
| Notes payable, net of unamortized debt discount and deferred financing fees | 611,541\u00a0 | 548,652\u00a0 | |||||||||
| Less: Notes\u00a0payable - current | (41,009) | (35,730) | |||||||||
| Notes\u00a0payable - net of current | $ | 570,532\u00a0 | $ | 512,922\u00a0 |
| Credit facility | Original facility size | Outstanding balance | Stated interest rate(11) | Maturity date | ||||||||||||||||||||||
| Senior Secured Notes \u2013 2029 | $ | 500,000\u00a0 | $ | 500,000\u00a0 | 11.50% | February 18, 2029 | ||||||||||||||||||||
| Senior Secured Notes \u2013 2027 | 67,000\u00a0 | 43,494\u00a0 | 10.00% | (5) | December 17, 2027 | |||||||||||||||||||||
Senior Secured Notes \u2013 2026(9) | 475,000\u00a0 | \u2014\u00a0 | 8.00% | (4) | December 15, 2026 | (9) | ||||||||||||||||||||
Amended Needham LOC(2)(10) | 100,000\u00a0 | 52,000\u00a0 | 8.99% | (6)(10) | February 18, 2029 | (10) | ||||||||||||||||||||
| ABL Facility - EWB Note | 12,000\u00a0 | 12,000\u00a0 | 6.00% | (7) | August 25, 2026 | |||||||||||||||||||||
Seller note payable - Scottsdale Note(3) | 5,100\u00a0 | 3,952\u00a0 | 5.00% | (8) | December 1, 2036 | |||||||||||||||||||||
Other notes payable - miscellaneous(1) | 11,870\u00a0 | 7,820\u00a0 | Various | Various | ||||||||||||||||||||||
| Total | $ | 1,170,970\u00a0 | $ | 619,266\u00a0 | ||||||||||||||||||||||
(1) Comprised of various immaterial loans held by Curaleaf International. | ||||||||||||||||||||||||||
(2) In October 2025, the total borrowing capacity under the Needham LOC was increased from $40.0 million to $100.0 million; see section herein titled \"Needham Bank\" for additional information. | ||||||||||||||||||||||||||
(3) The Company has a seller note payable incurred in connection with the Company\u2019s purchase of a building in Scottsdale, Arizona (the \u201cScottsdale Note\u201d). | ||||||||||||||||||||||||||
(4) Compounded semi-annually and payable in arrears on June 15th and December 15th of each year. | ||||||||||||||||||||||||||
(5) Compounded monthly and computed daily on the basis of a 360-day year for the actual number of days elapsed for a period of time. Interest and principal payments are payable in arrears and due on the 17th of each month. | ||||||||||||||||||||||||||
(6) Calculated on the basis of a 360-day year. Interest is due on the 6th of each month. | ||||||||||||||||||||||||||
(7) Calculated on the basis of a 360-day year for the actual number of days elapsed for any period of time. Interest is due on the 25th of each month. | ||||||||||||||||||||||||||
(8) Compounded monthly and computed daily on the basis of a 360-day year for the actual number of days elapsed for a period of time. Interest and principal payments are payable in arrears and due on the 23rd of each month. | ||||||||||||||||||||||||||
(9) In February 2026, the Company closed on a private placement of senior secured notes for aggregate gross proceeds of $500.0 million due February\u00a018, 2029. Net proceeds were used to fully repay the Senior Secured Notes \u2013 2026. | ||||||||||||||||||||||||||
(10) In conjunction with the origination of the Senior Secured Notes \u2013 2029, the maturity date of the Amended Needham LOC was extended to February\u00a018, 2029, and the interest rate was amended to 8.99% in accordance with the terms of the Amended and Restated Needham Loan Agreement. | ||||||||||||||||||||||||||
(11) The weighted-average interest rate aligns with the stated interest rates of all credit facilities, except for the miscellaneous category, the impact of which is immaterial. |
| Three months ended June 30, 2026 | Six months ended June 30, 2026 | ||||||||||||||||||||||||||||||||||||||||
| Credit facility | Effective interest rate | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | ||||||||||||||||||||||||||||||||||
| Senior Secured Notes \u2013 2029 | 12.16% | $ | 14,336\u00a0 | $ | 602\u00a0 | $ | 14,938\u00a0 | $ | 20,795\u00a0 | $ | 849\u00a0 | $ | 21,644\u00a0 | ||||||||||||||||||||||||||||
| Senior Secured Notes \u2013 2027 | 10.69% | 1,187\u00a0 | 113\u00a0 | 1,300\u00a0 | 2,525\u00a0 | 194\u00a0 | 2,719\u00a0 | ||||||||||||||||||||||||||||||||||
| Senior Secured Notes \u2013 2026 | 9.30% | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 4,906\u00a0 | 717\u00a0 | 5,623\u00a0 | ||||||||||||||||||||||||||||||||||
| Amended Needham LOC | 8.99% | 766\u00a0 | 192\u00a0 | 958\u00a0 | 1,034\u00a0 | 752\u00a0 | 1,786\u00a0 | ||||||||||||||||||||||||||||||||||
| ABL Facility - EWB Note | 6.00% | 182\u00a0 | \u2014\u00a0 | 182\u00a0 | 362\u00a0 | \u2014\u00a0 | 362\u00a0 | ||||||||||||||||||||||||||||||||||
| Seller notes payable - Scottsdale Note | 5.00% | 50\u00a0 | \u2014\u00a0 | 50\u00a0 | 101\u00a0 | \u2014\u00a0 | 101\u00a0 | ||||||||||||||||||||||||||||||||||
| Other notes payable - miscellaneous | various | 63\u00a0 | \u2014\u00a0 | 63\u00a0 | 102\u00a0 | \u2014\u00a0 | 102\u00a0 | ||||||||||||||||||||||||||||||||||
| $ | 16,584\u00a0 | $ | 907\u00a0 | $ | 17,491\u00a0 | $ | 29,825\u00a0 | $ | 2,512\u00a0 | $ | 32,337\u00a0 | ||||||||||||||||||||||||||||||
(1) Total interest expense herein does not encompass interest expense recognized on the Company\u2019s deferred consideration obligations. For the three and six months ended June\u00a030, 2026, the Company recognized interest expense of $0.2 million and $0.3 million, respectively, on its deferred consideration obligations. See Note 4 \u2014 Acquisitions for additional information. |
| Three months ended June 30, 2025 | Six months ended June 30, 2025 | ||||||||||||||||||||||
| Effective interest rate | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | Stated interest expense | Amortization of debt discount/premium and deferred financing fees | Total interest expense (1) | |||||||||||||||||
| Senior Secured Notes \u2013 2026 | 9.30\u00a0 | % | $ | 9,175\u00a0 | $ | 1,327\u00a0 | $ | 10,502\u00a0 | $ | 18,249\u00a0 | $ | 2,442\u00a0 | $ | 20,691\u00a0 | |||||||||
| Senior Secured Notes \u2013 2027 | 10.69\u00a0 | % | 1,904\u00a0 | 94\u00a0 | 1,998\u00a0 | 3,128\u00a0 | 146\u00a0 | 3,274\u00a0 | |||||||||||||||
| Bloom Notes \u2013 2025 | 10.36\u00a0 | % | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 127\u00a0 | 200\u00a0 | 327\u00a0 | |||||||||||||||
| Bloom Notes \u2013 2024 | 10.00\u00a0 | % | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 78\u00a0 | \u2014\u00a0 | 78\u00a0 | |||||||||||||||
| Needham LOC | 7.99\u00a0 | % | 274\u00a0 | 227\u00a0 | 501\u00a0 | 631\u00a0 | 571\u00a0 | 1,202\u00a0 | |||||||||||||||
| ABL Facility - EWB Note | 6.00% | 182\u00a0 | 45\u00a0 | 227\u00a0 | 376\u00a0 | 45\u00a0 | 421\u00a0 | ||||||||||||||||
| Other notes payable - BHH Note | 15.00% | 280\u00a0 | \u2014\u00a0 | 280\u00a0 | 558\u00a0 | \u2014\u00a0 | 558\u00a0 | ||||||||||||||||
| Seller notes payable - Scottsdale Note | 5.00% | 54\u00a0 | \u2014\u00a0 | 54\u00a0 | 115\u00a0 | \u2014\u00a0 | 115\u00a0 | ||||||||||||||||
| Other notes payable - miscellaneous | various | 44\u00a0 | \u2014\u00a0 | 44\u00a0 | 87\u00a0 | \u2014\u00a0 | 87\u00a0 | ||||||||||||||||
| Other notes payable - VOWL Note | 4.25% | 19\u00a0 | \u2014\u00a0 | 19\u00a0 | 47\u00a0 | \u2014\u00a0 | 47\u00a0 | ||||||||||||||||
| Other notes payable - NGC Note | 12.00\u00a0 | % | 48\u00a0 | \u2014\u00a0 | 48\u00a0 | 95\u00a0 | \u2014\u00a0 | 95\u00a0 | |||||||||||||||
| $ | 11,980\u00a0 | $ | 1,693\u00a0 | $ | 13,673\u00a0 | $ | 23,491\u00a0 | $ | 3,404\u00a0 | $ | 26,895\u00a0 | ||||||||||||
(1) Total interest expense herein does not encompass interest expense recognized on the Company\u2019s deferred consideration obligations. For the three and six months ended June\u00a030, 2025, the Company recognized interest expense of $1.0 million and $1.9 million, respectively, on its deferred consideration obligations. See Note 4 \u2014 Acquisitions for additional information. |
| Fiscal year: | Amount | ||||
| 2026 (six months remaining) | $ | 28,739\u00a0 | |||
| 2027 | 30,996\u00a0 | ||||
| 2028 | 1,419\u00a0 | ||||
| 2029 | 553,317\u00a0 | ||||
2030 and thereafter | 4,795\u00a0 | ||||
| Total future principal maturities | $ | 619,266\u00a0 |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Carrying Value | $ | 619,266\u00a0 | $ | 554,723\u00a0 | |||||||
| Fair Value | 638,655\u00a0 | 546,068\u00a0 |
| Loan year | Prepayment redemption prices | ||||
August 18, 2027 to February 17, 2028 | 105.8% | ||||
February 17, 2028 and thereafter | 100.0% |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Equity-classified awards: | |||||||||||||||||||||||
| Stock options | $ | 1,481\u00a0 | $ | 2,156\u00a0 | $ | 3,140\u00a0 | $ | 4,006\u00a0 | |||||||||||||||
| Performance stock units | 4,531\u00a0 | 472\u00a0 | 8,320\u00a0 | 982\u00a0 | |||||||||||||||||||
| Restricted stock units | 4,458\u00a0 | 3,305\u00a0 | 8,674\u00a0 | 5,569\u00a0 | |||||||||||||||||||
| Share-based compensation expense: equity-classified awards | 10,470\u00a0 | 5,933\u00a0 | 20,134\u00a0 | 10,557\u00a0 | |||||||||||||||||||
| Liability-classified awards: | |||||||||||||||||||||||
Virtual share option awards(1) | (199) | 2,544\u00a0 | (199) | 2,544\u00a0 | |||||||||||||||||||
| Share-based compensation expense: liability-settled awards | (199) | 2,544\u00a0 | (199) | 2,544\u00a0 | |||||||||||||||||||
| Total share-based compensation expense | $ | 10,271\u00a0 | $ | 8,477\u00a0 | $ | 19,935\u00a0 | $ | 13,101\u00a0 | |||||||||||||||
(1) Includes the cumulative share-based compensation expense recognized for VSOs granted during the second quarter of 2025, for which the requisite service periods retroactively commenced in January 2023. During the three and six months ended June 30, 2026, the Company recorded a benefit of $0.2 million related to a true-up of the liability associated with certain VSOs, which reduced share-based compensation expense during the period. |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Total intrinsic value of options exercised | $ | 8,945\u00a0 | $ | 125\u00a0 | |||||||
| Total fair value of options vested | 4,240\u00a0 | 3,691\u00a0 |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Expected volatility | \u00a0\u00a082% \u2014 83% | \u00a072% \u2014 74% | |||||||||
| Expected life in years | 5.99 \u2014 6.05 | \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a06.16 \u2014 6.24 | |||||||||
Expected dividends(1) | \u2014\u00a0 | % | \u2014\u00a0 | % | |||||||
| Risk-free interest rate (based on government bonds) | 3.89% \u2014 4.33% | 4.14% \u2014 4.21% | |||||||||
(1) The Company has never paid cash dividends and does not expect to pay cash dividends in the foreseeable future. |
| Number of options | Weighted average exercise price | Weighted average remaining contractual life (years) | Aggregate intrinsic value | ||||||||||||||||||||
| Outstanding at January 1, 2026 | 10,618,602\u00a0 | $ | 8.658\u00a0 | ||||||||||||||||||||
| Forfeited | (496,948) | 4.744\u00a0 | |||||||||||||||||||||
| Cancelled under the Option Exchange Program | (3,305,683) | 15.912\u00a0 | |||||||||||||||||||||
| Expired | (205,230) | 26.850\u00a0 | |||||||||||||||||||||
| Exercised | (1,298,324) | 0.988\u00a0 | |||||||||||||||||||||
| Granted | 199,660\u00a0 | 9.365\u00a0 | |||||||||||||||||||||
| Outstanding at June 30, 2026 | 5,512,077\u00a0 | $ | 5.814\u00a0 | 7.27 | $ | 32,061\u00a0 | |||||||||||||||||
| Options exercisable at June 30, 2026 | 2,619,008\u00a0 | $ | 7.275\u00a0 | 5.64 | $ | 13,521\u00a0 | |||||||||||||||||
| Number of PSUs | Weighted-Average Grant Date Fair Value | ||||||||||
| Unvested at January 1, 2026 | 3,263,478\u00a0 | $ | 3.180\u00a0 | ||||||||
| Forfeited | (622,681) | 2.811\u00a0 | |||||||||
Vested(1) | (928,215) | 3.623\u00a0 | |||||||||
| Granted | 2,025,655\u00a0 | 6.788\u00a0 | |||||||||
| Unvested at June 30, 2026 | 3,738,237\u00a0 | $ | 5.096\u00a0 | ||||||||
| Inception-to-date PSUs vested at June 30, 2026 | 1,180,376\u00a0 | $ | 4.872\u00a0 | ||||||||
(1) Includes 320,791 SVS, at a weighted-average fair value of $6.855, withheld by the Company to satisfy applicable statutory tax withholding obligations upon the vesting of PSUs during the reporting period. The SVS withheld were returned to the pool of SVS available for future issuance under the LTIP. |
| Number of RSUs | Weighted-Average Grant Date Fair Value | ||||||||||
| Unvested at January 1, 2026 | 8,848,666\u00a0 | $ | 4.830\u00a0 | ||||||||
| Forfeited | (492,321) | 5.420\u00a0 | |||||||||
Vested(1) | (2,558,771) | 4.200\u00a0 | |||||||||
| Granted under the Option Exchange Program | 3,305,683\u00a0 | 6.020\u00a0 | |||||||||
| Granted | 1,412,118\u00a0 | 7.131\u00a0 | |||||||||
Unvested at June\u00a030, 2026 | 10,515,375\u00a0 | $ | 5.648\u00a0 | ||||||||
| Inception-to-date RSUs vested at June 30, 2026 | 6,451,977\u00a0 | $ | 12.380\u00a0 | ||||||||
(1) Includes 598,324 SVS, at a weighted-average fair value of $7.080, withheld by the Company to satisfy applicable statutory tax withholding obligations upon the vesting of RSUs during the reporting period. The SVS withheld were returned to the pool of SVS available for future issuance under the LTIP. |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Equity-classified awards: | |||||||||||||||||||||||
| Stock options | $ | 1,481\u00a0 | $ | 2,156\u00a0 | $ | 3,140\u00a0 | $ | 4,006\u00a0 | |||||||||||||||
| Performance stock units | 4,531\u00a0 | 472\u00a0 | 8,320\u00a0 | 982\u00a0 | |||||||||||||||||||
| Restricted stock units | 4,458\u00a0 | 3,305\u00a0 | 8,674\u00a0 | 5,569\u00a0 | |||||||||||||||||||
| Share-based compensation expense: equity-classified awards | 10,470\u00a0 | 5,933\u00a0 | 20,134\u00a0 | 10,557\u00a0 | |||||||||||||||||||
| Liability-classified awards: | |||||||||||||||||||||||
Virtual share option awards(1) | (199) | 2,544\u00a0 | (199) | 2,544\u00a0 | |||||||||||||||||||
| Share-based compensation expense: liability-settled awards | (199) | 2,544\u00a0 | (199) | 2,544\u00a0 | |||||||||||||||||||
| Total share-based compensation expense | $ | 10,271\u00a0 | $ | 8,477\u00a0 | $ | 19,935\u00a0 | $ | 13,101\u00a0 | |||||||||||||||
(1) Includes the cumulative share-based compensation expense recognized for VSOs granted during the second quarter of 2025, for which the requisite service periods retroactively commenced in January 2023. During the three and six months ended June 30, 2026, the Company recorded a benefit of $0.2 million related to a true-up of the liability associated with certain VSOs, which reduced share-based compensation expense during the period. |
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Total intrinsic value of options exercised | $ | 8,945\u00a0 | $ | 125\u00a0 | |||||||
| Total fair value of options vested | 4,240\u00a0 | 3,691\u00a0 |
| Number of options | Weighted average exercise price | Weighted average remaining contractual life (years) | Aggregate intrinsic value | ||||||||||||||||||||
| Outstanding at January 1, 2026 | 10,618,602\u00a0 | $ | 8.658\u00a0 | ||||||||||||||||||||
| Forfeited | (496,948) | 4.744\u00a0 | |||||||||||||||||||||
| Cancelled under the Option Exchange Program | (3,305,683) | 15.912\u00a0 | |||||||||||||||||||||
| Expired | (205,230) | 26.850\u00a0 | |||||||||||||||||||||
| Exercised | (1,298,324) | 0.988\u00a0 | |||||||||||||||||||||
| Granted | 199,660\u00a0 | 9.365\u00a0 | |||||||||||||||||||||
| Outstanding at June 30, 2026 | 5,512,077\u00a0 | $ | 5.814\u00a0 | 7.27 | $ | 32,061\u00a0 | |||||||||||||||||
| Options exercisable at June 30, 2026 | 2,619,008\u00a0 | $ | 7.275\u00a0 | 5.64 | $ | 13,521\u00a0 | |||||||||||||||||
| Six months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Expected volatility | \u00a0\u00a082% \u2014 83% | \u00a072% \u2014 74% | |||||||||
| Expected life in years | 5.99 \u2014 6.05 | \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a06.16 \u2014 6.24 | |||||||||
Expected dividends(1) | \u2014\u00a0 | % | \u2014\u00a0 | % | |||||||
| Risk-free interest rate (based on government bonds) | 3.89% \u2014 4.33% | 4.14% \u2014 4.21% | |||||||||
(1) The Company has never paid cash dividends and does not expect to pay cash dividends in the foreseeable future. |
| Number of PSUs | Weighted-Average Grant Date Fair Value | ||||||||||
| Unvested at January 1, 2026 | 3,263,478\u00a0 | $ | 3.180\u00a0 | ||||||||
| Forfeited | (622,681) | 2.811\u00a0 | |||||||||
Vested(1) | (928,215) | 3.623\u00a0 | |||||||||
| Granted | 2,025,655\u00a0 | 6.788\u00a0 | |||||||||
| Unvested at June 30, 2026 | 3,738,237\u00a0 | $ | 5.096\u00a0 | ||||||||
| Inception-to-date PSUs vested at June 30, 2026 | 1,180,376\u00a0 | $ | 4.872\u00a0 | ||||||||
(1) Includes 320,791 SVS, at a weighted-average fair value of $6.855, withheld by the Company to satisfy applicable statutory tax withholding obligations upon the vesting of PSUs during the reporting period. The SVS withheld were returned to the pool of SVS available for future issuance under the LTIP. |
| Number of RSUs | Weighted-Average Grant Date Fair Value | ||||||||||
| Unvested at January 1, 2026 | 8,848,666\u00a0 | $ | 4.830\u00a0 | ||||||||
| Forfeited | (492,321) | 5.420\u00a0 | |||||||||
Vested(1) | (2,558,771) | 4.200\u00a0 | |||||||||
| Granted under the Option Exchange Program | 3,305,683\u00a0 | 6.020\u00a0 | |||||||||
| Granted | 1,412,118\u00a0 | 7.131\u00a0 | |||||||||
Unvested at June\u00a030, 2026 | 10,515,375\u00a0 | $ | 5.648\u00a0 | ||||||||
| Inception-to-date RSUs vested at June 30, 2026 | 6,451,977\u00a0 | $ | 12.380\u00a0 | ||||||||
(1) Includes 598,324 SVS, at a weighted-average fair value of $7.080, withheld by the Company to satisfy applicable statutory tax withholding obligations upon the vesting of RSUs during the reporting period. The SVS withheld were returned to the pool of SVS available for future issuance under the LTIP. |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Salaries and benefits | $ | 65,782\u00a0 | $ | 54,658\u00a0 | $ | 129,522\u00a0 | $ | 114,081\u00a0 | |||||||||||||||
| Sales and marketing | 16,402\u00a0 | 10,520\u00a0 | 27,793\u00a0 | 21,650\u00a0 | |||||||||||||||||||
| Rent and occupancy | 14,986\u00a0 | 15,629\u00a0 | 29,545\u00a0 | 29,843\u00a0 | |||||||||||||||||||
| Office supplies and services | 12,077\u00a0 | 11,280\u00a0 | 23,918\u00a0 | 22,118\u00a0 | |||||||||||||||||||
| Share-based compensation | 10,271\u00a0 | 8,477\u00a0 | 19,935\u00a0 | 13,101\u00a0 | |||||||||||||||||||
| Professional fees | 6,623\u00a0 | 5,867\u00a0 | 13,124\u00a0 | 11,265\u00a0 | |||||||||||||||||||
| Insurance and compliance | 2,554\u00a0 | 2,259\u00a0 | 4,949\u00a0 | 4,673\u00a0 | |||||||||||||||||||
| Travel | 2,154\u00a0 | 1,725\u00a0 | 4,135\u00a0 | 3,572\u00a0 | |||||||||||||||||||
| Research and development | 449\u00a0 | (41) | 744\u00a0 | 294\u00a0 | |||||||||||||||||||
| Other operating expense | 379\u00a0 | 983\u00a0 | 882\u00a0 | 1,579\u00a0 | |||||||||||||||||||
| Total selling, general and administrative expense | $ | 131,677\u00a0 | $ | 111,357\u00a0 | $ | 254,547\u00a0 | $ | 222,176\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Salaries and benefits | $ | 65,782\u00a0 | $ | 54,658\u00a0 | $ | 129,522\u00a0 | $ | 114,081\u00a0 | |||||||||||||||
| Sales and marketing | 16,402\u00a0 | 10,520\u00a0 | 27,793\u00a0 | 21,650\u00a0 | |||||||||||||||||||
| Rent and occupancy | 14,986\u00a0 | 15,629\u00a0 | 29,545\u00a0 | 29,843\u00a0 | |||||||||||||||||||
| Office supplies and services | 12,077\u00a0 | 11,280\u00a0 | 23,918\u00a0 | 22,118\u00a0 | |||||||||||||||||||
| Share-based compensation | 10,271\u00a0 | 8,477\u00a0 | 19,935\u00a0 | 13,101\u00a0 | |||||||||||||||||||
| Professional fees | 6,623\u00a0 | 5,867\u00a0 | 13,124\u00a0 | 11,265\u00a0 | |||||||||||||||||||
| Insurance and compliance | 2,554\u00a0 | 2,259\u00a0 | 4,949\u00a0 | 4,673\u00a0 | |||||||||||||||||||
| Travel | 2,154\u00a0 | 1,725\u00a0 | 4,135\u00a0 | 3,572\u00a0 | |||||||||||||||||||
| Research and development | 449\u00a0 | (41) | 744\u00a0 | 294\u00a0 | |||||||||||||||||||
| Other operating expense | 379\u00a0 | 983\u00a0 | 882\u00a0 | 1,579\u00a0 | |||||||||||||||||||
| Total selling, general and administrative expense | $ | 131,677\u00a0 | $ | 111,357\u00a0 | $ | 254,547\u00a0 | $ | 222,176\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Foreign exchange (loss) gain | (2,679) | 3,449\u00a0 | (4,226) | 4,924\u00a0 | |||||||||||||||||||
| (Loss) gain on investment | (802) | 54\u00a0 | (459) | 331\u00a0 | |||||||||||||||||||
| Loss on disposal of assets | (750) | (263) | (556) | (1,339) | |||||||||||||||||||
| (Loss) gain on extinguishment of debt | $ | (204) | $ | \u2014\u00a0 | $ | (4,494) | $ | 1,487\u00a0 | |||||||||||||||
| Miscellaneous other income (expense) | 1,512\u00a0 | (1,411) | 2,745\u00a0 | (571) | |||||||||||||||||||
| Other (expense) income, net | $ | (2,923) | $ | 1,829\u00a0 | $ | (6,990) | $ | 4,832\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Foreign exchange (loss) gain | (2,679) | 3,449\u00a0 | (4,226) | 4,924\u00a0 | |||||||||||||||||||
| (Loss) gain on investment | (802) | 54\u00a0 | (459) | 331\u00a0 | |||||||||||||||||||
| Loss on disposal of assets | (750) | (263) | (556) | (1,339) | |||||||||||||||||||
| (Loss) gain on extinguishment of debt | $ | (204) | $ | \u2014\u00a0 | $ | (4,494) | $ | 1,487\u00a0 | |||||||||||||||
| Miscellaneous other income (expense) | 1,512\u00a0 | (1,411) | 2,745\u00a0 | (571) | |||||||||||||||||||
| Other (expense) income, net | $ | (2,923) | $ | 1,829\u00a0 | $ | (6,990) | $ | 4,832\u00a0 |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Numerator: | |||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | 12,476\u00a0 | $ | (48,111) | $ | 82,552\u00a0 | $ | (98,162) | |||||||||||||||
Less: excess redemption value above carrying value(3) | \u2014\u00a0 | (11,861) | (381) | (25,188) | |||||||||||||||||||
| Net income (loss) from continuing operations, net of excess redemption value | 12,476\u00a0 | (59,972) | 82,171\u00a0 | (123,350) | |||||||||||||||||||
| Net income (loss) from discontinued operations | 31\u00a0 | (5,495) | (262) | (15,688) | |||||||||||||||||||
| Net income (loss), net of excess redemption value | 12,507\u00a0 | (65,467) | 81,909\u00a0 | (139,038) | |||||||||||||||||||
| Less: Net (loss) income attributable to non-controlling interest | \u2014\u00a0 | (445) | (16) | 372\u00a0 | |||||||||||||||||||
| Net income (loss) attributable to Curaleaf Holdings, Inc., net of excess redemption value | $ | 12,507\u00a0 | $ | (65,022) | $ | 81,925\u00a0 | $ | (139,410) | |||||||||||||||
| Denominator: | |||||||||||||||||||||||
| Basic weighted-average common shares outstanding | 263,067,698\u00a0 | 252,423,544\u00a0 | 260,782,402\u00a0 | 251,912,438\u00a0 | |||||||||||||||||||
| Dilutive effect of stock options to purchase SVS | 2,152,452\u00a0 | \u2014\u00a0 | 1,855,735\u00a0 | \u2014\u00a0 | |||||||||||||||||||
Dilutive effect of restricted and performance-based stock awards(2) | 5,222,957\u00a0 | \u2014\u00a0 | 5,906,952\u00a0 | \u2014\u00a0 | |||||||||||||||||||
| Dilutive effect of contingent shares | 259,333\u00a0 | \u2014\u00a0 | 259,333\u00a0 | \u2014\u00a0 | |||||||||||||||||||
Dilutive weighted-average common shares outstanding(1) | 270,702,440\u00a0 | 252,423,544\u00a0 | 268,804,422\u00a0 | 251,912,438\u00a0 | |||||||||||||||||||
| Per share \u2013 basic: | |||||||||||||||||||||||
Net income (loss) per share from continuing operations\u207d3\u207e | $ | 0.05\u00a0 | $ | (0.24) | $ | 0.32\u00a0 | $ | (0.49) | |||||||||||||||
| Net loss per share from discontinued operations | \u2014\u00a0 | (0.02) | \u2014\u00a0 | (0.06) | |||||||||||||||||||
| Net income (loss) per share attributable to Curaleaf Holdings, Inc. | $ | 0.05\u00a0 | $ | (0.26) | $ | 0.32\u00a0 | $ | (0.55) | |||||||||||||||
Per share \u2013 diluted(1)(4): | |||||||||||||||||||||||
Net income (loss) per share from continuing operations\u207d3\u207e | $ | 0.05\u00a0 | $ | (0.24) | $ | 0.31\u00a0 | $ | (0.49) | |||||||||||||||
| Net loss per share from discontinued operations | \u2014\u00a0 | (0.02) | \u2014\u00a0 | (0.06) | |||||||||||||||||||
| Net income (loss) per share attributable to Curaleaf Holdings, Inc. | $ | 0.05\u00a0 | $ | (0.26) | $ | 0.31\u00a0 | $ | (0.55) | |||||||||||||||
(1) As a result of the Company\u2019s net loss for the three and six months ended June\u00a030, 2025, all potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive. Accordingly, basic and diluted net loss per share are the same for each period presented. | |||||||||||||||||||||||
(2) Excludes PSU awards that did not meet performance criteria at June\u00a030, 2025. | |||||||||||||||||||||||
(3) Certain non-controlling interests are redeemable at the option of the holders. When the estimated redemption value exceeds the recorded amount, the excess is charged directly to Shareholders\u2019 equity. Pursuant to ASC 480-10, the excess redemption value must be included in the calculation of earnings per share \u2013 basic and diluted. The redeemable non-controlling interest was settled during the second quarter of 2026. The excess redemption value included in the EPS calculation for the six months ended June 30, 2026 relates to accretion recognized through the settlement date. See Note 2 \u2014 Basis of presentation and consolidation and Note 18 \u2014 Temporary equity and redeemable non-controlling interests for additional information. | |||||||||||||||||||||||
(4) Excludes 182,465 and 238,364 of outstanding SVS awards from the computation of diluted net income per share for the three and six months ended June\u00a030, 2026, respectively, as including them would have an anti-dilutive effect. |
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Numerator: | |||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | 12,476\u00a0 | $ | (48,111) | $ | 82,552\u00a0 | $ | (98,162) | |||||||||||||||
Less: excess redemption value above carrying value(3) | \u2014\u00a0 | (11,861) | (381) | (25,188) | |||||||||||||||||||
| Net income (loss) from continuing operations, net of excess redemption value | 12,476\u00a0 | (59,972) | 82,171\u00a0 | (123,350) | |||||||||||||||||||
| Net income (loss) from discontinued operations | 31\u00a0 | (5,495) | (262) | (15,688) | |||||||||||||||||||
| Net income (loss), net of excess redemption value | 12,507\u00a0 | (65,467) | 81,909\u00a0 | (139,038) | |||||||||||||||||||
| Less: Net (loss) income attributable to non-controlling interest | \u2014\u00a0 | (445) | (16) | 372\u00a0 | |||||||||||||||||||
| Net income (loss) attributable to Curaleaf Holdings, Inc., net of excess redemption value | $ | 12,507\u00a0 | $ | (65,022) | $ | 81,925\u00a0 | $ | (139,410) | |||||||||||||||
| Denominator: | |||||||||||||||||||||||
| Basic weighted-average common shares outstanding | 263,067,698\u00a0 | 252,423,544\u00a0 | 260,782,402\u00a0 | 251,912,438\u00a0 | |||||||||||||||||||
| Dilutive effect of stock options to purchase SVS | 2,152,452\u00a0 | \u2014\u00a0 | 1,855,735\u00a0 | \u2014\u00a0 | |||||||||||||||||||
Dilutive effect of restricted and performance-based stock awards(2) | 5,222,957\u00a0 | \u2014\u00a0 | 5,906,952\u00a0 | \u2014\u00a0 | |||||||||||||||||||
| Dilutive effect of contingent shares | 259,333\u00a0 | \u2014\u00a0 | 259,333\u00a0 | \u2014\u00a0 | |||||||||||||||||||
Dilutive weighted-average common shares outstanding(1) | 270,702,440\u00a0 | 252,423,544\u00a0 | 268,804,422\u00a0 | 251,912,438\u00a0 | |||||||||||||||||||
| Per share \u2013 basic: | |||||||||||||||||||||||
Net income (loss) per share from continuing operations\u207d3\u207e | $ | 0.05\u00a0 | $ | (0.24) | $ | 0.32\u00a0 | $ | (0.49) | |||||||||||||||
| Net loss per share from discontinued operations | \u2014\u00a0 | (0.02) | \u2014\u00a0 | (0.06) | |||||||||||||||||||
| Net income (loss) per share attributable to Curaleaf Holdings, Inc. | $ | 0.05\u00a0 | $ | (0.26) | $ | 0.32\u00a0 | $ | (0.55) | |||||||||||||||
Per share \u2013 diluted(1)(4): | |||||||||||||||||||||||
Net income (loss) per share from continuing operations\u207d3\u207e | $ | 0.05\u00a0 | $ | (0.24) | $ | 0.31\u00a0 | $ | (0.49) | |||||||||||||||
| Net loss per share from discontinued operations | \u2014\u00a0 | (0.02) | \u2014\u00a0 | (0.06) | |||||||||||||||||||
| Net income (loss) per share attributable to Curaleaf Holdings, Inc. | $ | 0.05\u00a0 | $ | (0.26) | $ | 0.31\u00a0 | $ | (0.55) | |||||||||||||||
(1) As a result of the Company\u2019s net loss for the three and six months ended June\u00a030, 2025, all potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive. Accordingly, basic and diluted net loss per share are the same for each period presented. | |||||||||||||||||||||||
(2) Excludes PSU awards that did not meet performance criteria at June\u00a030, 2025. | |||||||||||||||||||||||
(3) Certain non-controlling interests are redeemable at the option of the holders. When the estimated redemption value exceeds the recorded amount, the excess is charged directly to Shareholders\u2019 equity. Pursuant to ASC 480-10, the excess redemption value must be included in the calculation of earnings per share \u2013 basic and diluted. The redeemable non-controlling interest was settled during the second quarter of 2026. The excess redemption value included in the EPS calculation for the six months ended June 30, 2026 relates to accretion recognized through the settlement date. See Note 2 \u2014 Basis of presentation and consolidation and Note 18 \u2014 Temporary equity and redeemable non-controlling interests for additional information. | |||||||||||||||||||||||
(4) Excludes 182,465 and 238,364 of outstanding SVS awards from the computation of diluted net income per share for the three and six months ended June\u00a030, 2026, respectively, as including them would have an anti-dilutive effect. |
| Three months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Loss before Benefit (provision) for income taxes | $ | (21,648) | $ | (15,640) | $ | (4,660) | $ | (630) | $ | (26,308) | $ | (16,270) | |||||||||||||||||||||||
| Total other expense (income), net | 26,654\u00a0 | 26,800 | 3,876\u00a0 | (4,284) | 30,530\u00a0 | 22,516\u00a0 | |||||||||||||||||||||||||||||
Depreciation and amortization(2) | 42,121\u00a0 | 43,191 | 6,491\u00a0 | 5,973\u00a0 | 48,612\u00a0 | 49,164\u00a0 | |||||||||||||||||||||||||||||
Other adjustments(3) | 16,413\u00a0 | 9,578 | 876\u00a0 | 2,885\u00a0 | 17,289\u00a0 | 12,463\u00a0 | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 63,540\u00a0 | $ | 63,929 | $ | 6,583\u00a0 | $ | 3,944 | $ | 70,123\u00a0 | $ | 67,873 | |||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. | |||||||||||||||||||||||||||||||||||
(2) Depreciation and amortization includes depreciation and amortization from cost of goods sold and operating expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the three months ended June 30, 2026 primarily include costs related to share-based compensation expense of $10.3 million, restructuring costs of $1.0 million, adult use campaign and political initiatives of $3.2 million as well as acquisition, transaction, and other non-recurring costs of $2.8 million. Other adjustments for the three months ended June 30, 2025 primarily include costs related to share-based compensation expense of $8.5 million, restructuring costs of $1.3 million, as well as acquisition, transaction, and other non-recurring costs of $2.7 million. |
| Six months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Loss before Benefit (provision) for income taxes | $ | (46,337) | $ | (32,724) | $ | (8,600) | $ | 55 | $ | (54,937) | $ | (32,669) | |||||||||||||||||||||||
| Total other expense (income), net | 54,717\u00a0 | 54,333 | 5,195\u00a0 | (6,052) | 59,912\u00a0 | 48,281 | |||||||||||||||||||||||||||||
Depreciation and amortization(2) | 83,565\u00a0 | 86,074 | 12,902\u00a0 | 11,919 | 96,467\u00a0 | 97,993 | |||||||||||||||||||||||||||||
Other adjustments (3) | 30,563\u00a0 | 16,917 | 1,531\u00a0 | 3,445 | 32,094\u00a0 | 20,362 | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 122,508\u00a0 | $ | 124,600 | $ | 11,028 | $ | 9,367 | $ | 133,536 | $ | 133,967 | |||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. | |||||||||||||||||||||||||||||||||||
(2) Depreciation and amortization includes depreciation and amortization from cost of goods sold and operating expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the six months ended June 30, 2026 primarily include costs related to share-based compensation expense of $19.9 million, restructuring costs of $2.2 million, adult use campaign and political initiatives of $3.9 million as well as acquisition, transaction, and other non-recurring costs of $6.1 million. Other adjustments for the six months ended June 30, 2025 primarily include costs related to share-based compensation expense of $13.1 million, restructuring costs of $2.1 million, as well as acquisition, transaction, and other non-recurring costs of $5.2 million. |
| Three months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Retail revenues | $ | 224,378\u00a0 | $ | 216,384\u00a0 | $ | 16,353\u00a0 | $ | 12,929\u00a0 | $ | 240,731\u00a0 | $ | 229,313\u00a0 | |||||||||||||||||||||||
| Wholesale revenues | 64,046\u00a0 | 53,207\u00a0 | 31,947\u00a0 | 25,970\u00a0 | 95,993\u00a0 | 79,177\u00a0 | |||||||||||||||||||||||||||||
| Management fee income | 271\u00a0 | 86\u00a0 | 3,104\u00a0 | 2,010\u00a0 | 3,375\u00a0 | 2,096\u00a0 | |||||||||||||||||||||||||||||
| Total revenues, net | 288,695\u00a0 | 269,677\u00a0 | 51,404\u00a0 | 40,909\u00a0 | 340,099\u00a0 | 310,586\u00a0 | |||||||||||||||||||||||||||||
| Cost of goods sold (less depreciation and amortization) | 126,788\u00a0 | 120,718\u00a0 | 28,800\u00a0 | 23,101\u00a0 | 155,588\u00a0 | 143,819\u00a0 | |||||||||||||||||||||||||||||
Selling, general and administrative(2) | 114,780\u00a0 | 94,608\u00a0 | 16,897\u00a0 | 16,749\u00a0 | 131,677\u00a0 | 111,357\u00a0 | |||||||||||||||||||||||||||||
Less: other adjustments(3) | (16,413) | (9,578) | (876) | (2,885) | (17,289) | (12,463) | |||||||||||||||||||||||||||||
| Adjusted EBITDA | 63,540\u00a0 | 63,929\u00a0 | 6,583\u00a0 | 3,944\u00a0 | 70,123\u00a0 | 67,873\u00a0 | |||||||||||||||||||||||||||||
| Capital expenditures | 14,128\u00a0 | 11,819\u00a0 | 1,802\u00a0 | 3,230\u00a0 | 15,930\u00a0 | 15,049\u00a0 | |||||||||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries\u2019 operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company\u2019s consolidated operating results, they may impact the comparability of the Company\u2019s segmented results across quarters and year-over-year. | |||||||||||||||||||||||||||||||||||
(2) See Note 20 \u2014 Selling, general and administrative expenses for additional detail regarding the composition of consolidated selling, general and administrative expenses. No individual selling, general and administrative expense category within the International segment exceeded 10% of total consolidated selling, general and administrative expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the three months ended June 30, 2026 primarily include costs related to share-based compensation expense of $10.3 million, restructuring costs of $1.0 million, adult use campaign and political initiatives of $3.2 million as well as acquisition, transaction, and other non-recurring costs of $2.8 million. Other adjustments for the three months ended June 30, 2025 primarily include costs related to share-based compensation expense of $8.5 million, restructuring costs of $1.3 million, as well as acquisition, transaction, and other non-recurring costs of $2.7 million. |
| Six months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Retail revenues | $ | 439,601\u00a0 | $ | 436,028\u00a0 | $ | 32,238\u00a0 | $ | 23,988\u00a0 | $ | 471,839\u00a0 | $ | 460,016\u00a0 | |||||||||||||||||||||||
| Wholesale revenues | 125,562\u00a0 | 105,030\u00a0 | 60,233\u00a0 | 48,427\u00a0 | 185,795\u00a0 | 153,457\u00a0 | |||||||||||||||||||||||||||||
| Management fee income | 519\u00a0 | 322\u00a0 | 6,177\u00a0 | 3,416\u00a0 | 6,696\u00a0 | 3,738\u00a0 | |||||||||||||||||||||||||||||
| Total revenues, net | 565,682\u00a0 | 541,380\u00a0 | 98,648\u00a0 | 75,831\u00a0 | 664,330\u00a0 | 617,211\u00a0 | |||||||||||||||||||||||||||||
| Cost of goods sold (less depreciation and amortization) | 253,139\u00a0 | 241,074\u00a0 | 55,202\u00a0 | 40,356\u00a0 | 308,341\u00a0 | 281,430\u00a0 | |||||||||||||||||||||||||||||
Selling, general and administrative(2) | 220,598\u00a0 | 192,623\u00a0 | 33,949\u00a0 | 29,553\u00a0 | 254,547\u00a0 | 222,176\u00a0 | |||||||||||||||||||||||||||||
Less: other adjustments(3) | (30,563) | (16,917) | (1,531) | (3,445) | (32,094) | (20,362) | |||||||||||||||||||||||||||||
| Adjusted EBITDA | 122,508\u00a0 | 124,600\u00a0 | 11,028\u00a0 | 9,367\u00a0 | 133,536\u00a0 | 133,967\u00a0 | |||||||||||||||||||||||||||||
| Capital expenditures | 28,425\u00a0 | 26,932\u00a0 | 4,490\u00a0 | 4,372\u00a0 | 32,915\u00a0 | 31,304\u00a0 | |||||||||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries\u2019 operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company\u2019s consolidated operating results, they may impact the comparability of the Company\u2019s segmented results across quarters and year-over-year. | |||||||||||||||||||||||||||||||||||
(2) See Note 20 \u2014 Selling, general and administrative expenses for additional detail regarding the composition of consolidated selling, general and administrative expenses. No individual selling, general and administrative expense category within the International segment exceeded 10% of total consolidated selling, general and administrative expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the six months ended June 30, 2026 primarily include costs related to share-based compensation expense of $19.9 million, restructuring costs of $2.2 million, adult use campaign and political initiatives of $3.9 million as well as acquisition, transaction, and other non-recurring costs of $6.1 million. Other adjustments for the six months ended June 30, 2025 primarily include costs related to share-based compensation expense of $13.1 million, restructuring costs of $2.1 million, as well as acquisition, transaction, and other non-recurring costs of $5.2 million. |
| Total assets: | Domestic | International | Total | ||||||||||||||
| June 30, 2026 | $ | 2,394,744\u00a0 | $ | 419,613\u00a0 | $ | 2,814,357\u00a0 | |||||||||||
| December 31, 2025 | 2,415,707\u00a0 | 429,608\u00a0 | 2,845,315\u00a0 |
| Three months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Loss before Benefit (provision) for income taxes | $ | (21,648) | $ | (15,640) | $ | (4,660) | $ | (630) | $ | (26,308) | $ | (16,270) | |||||||||||||||||||||||
| Total other expense (income), net | 26,654\u00a0 | 26,800 | 3,876\u00a0 | (4,284) | 30,530\u00a0 | 22,516\u00a0 | |||||||||||||||||||||||||||||
Depreciation and amortization(2) | 42,121\u00a0 | 43,191 | 6,491\u00a0 | 5,973\u00a0 | 48,612\u00a0 | 49,164\u00a0 | |||||||||||||||||||||||||||||
Other adjustments(3) | 16,413\u00a0 | 9,578 | 876\u00a0 | 2,885\u00a0 | 17,289\u00a0 | 12,463\u00a0 | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 63,540\u00a0 | $ | 63,929 | $ | 6,583\u00a0 | $ | 3,944 | $ | 70,123\u00a0 | $ | 67,873 | |||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. | |||||||||||||||||||||||||||||||||||
(2) Depreciation and amortization includes depreciation and amortization from cost of goods sold and operating expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the three months ended June 30, 2026 primarily include costs related to share-based compensation expense of $10.3 million, restructuring costs of $1.0 million, adult use campaign and political initiatives of $3.2 million as well as acquisition, transaction, and other non-recurring costs of $2.8 million. Other adjustments for the three months ended June 30, 2025 primarily include costs related to share-based compensation expense of $8.5 million, restructuring costs of $1.3 million, as well as acquisition, transaction, and other non-recurring costs of $2.7 million. |
| Six months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Loss before Benefit (provision) for income taxes | $ | (46,337) | $ | (32,724) | $ | (8,600) | $ | 55 | $ | (54,937) | $ | (32,669) | |||||||||||||||||||||||
| Total other expense (income), net | 54,717\u00a0 | 54,333 | 5,195\u00a0 | (6,052) | 59,912\u00a0 | 48,281 | |||||||||||||||||||||||||||||
Depreciation and amortization(2) | 83,565\u00a0 | 86,074 | 12,902\u00a0 | 11,919 | 96,467\u00a0 | 97,993 | |||||||||||||||||||||||||||||
Other adjustments (3) | 30,563\u00a0 | 16,917 | 1,531\u00a0 | 3,445 | 32,094\u00a0 | 20,362 | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 122,508\u00a0 | $ | 124,600 | $ | 11,028 | $ | 9,367 | $ | 133,536 | $ | 133,967 | |||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. | |||||||||||||||||||||||||||||||||||
(2) Depreciation and amortization includes depreciation and amortization from cost of goods sold and operating expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the six months ended June 30, 2026 primarily include costs related to share-based compensation expense of $19.9 million, restructuring costs of $2.2 million, adult use campaign and political initiatives of $3.9 million as well as acquisition, transaction, and other non-recurring costs of $6.1 million. Other adjustments for the six months ended June 30, 2025 primarily include costs related to share-based compensation expense of $13.1 million, restructuring costs of $2.1 million, as well as acquisition, transaction, and other non-recurring costs of $5.2 million. |
| Three months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Retail revenues | $ | 224,378\u00a0 | $ | 216,384\u00a0 | $ | 16,353\u00a0 | $ | 12,929\u00a0 | $ | 240,731\u00a0 | $ | 229,313\u00a0 | |||||||||||||||||||||||
| Wholesale revenues | 64,046\u00a0 | 53,207\u00a0 | 31,947\u00a0 | 25,970\u00a0 | 95,993\u00a0 | 79,177\u00a0 | |||||||||||||||||||||||||||||
| Management fee income | 271\u00a0 | 86\u00a0 | 3,104\u00a0 | 2,010\u00a0 | 3,375\u00a0 | 2,096\u00a0 | |||||||||||||||||||||||||||||
| Total revenues, net | 288,695\u00a0 | 269,677\u00a0 | 51,404\u00a0 | 40,909\u00a0 | 340,099\u00a0 | 310,586\u00a0 | |||||||||||||||||||||||||||||
| Cost of goods sold (less depreciation and amortization) | 126,788\u00a0 | 120,718\u00a0 | 28,800\u00a0 | 23,101\u00a0 | 155,588\u00a0 | 143,819\u00a0 | |||||||||||||||||||||||||||||
Selling, general and administrative(2) | 114,780\u00a0 | 94,608\u00a0 | 16,897\u00a0 | 16,749\u00a0 | 131,677\u00a0 | 111,357\u00a0 | |||||||||||||||||||||||||||||
Less: other adjustments(3) | (16,413) | (9,578) | (876) | (2,885) | (17,289) | (12,463) | |||||||||||||||||||||||||||||
| Adjusted EBITDA | 63,540\u00a0 | 63,929\u00a0 | 6,583\u00a0 | 3,944\u00a0 | 70,123\u00a0 | 67,873\u00a0 | |||||||||||||||||||||||||||||
| Capital expenditures | 14,128\u00a0 | 11,819\u00a0 | 1,802\u00a0 | 3,230\u00a0 | 15,930\u00a0 | 15,049\u00a0 | |||||||||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries\u2019 operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company\u2019s consolidated operating results, they may impact the comparability of the Company\u2019s segmented results across quarters and year-over-year. | |||||||||||||||||||||||||||||||||||
(2) See Note 20 \u2014 Selling, general and administrative expenses for additional detail regarding the composition of consolidated selling, general and administrative expenses. No individual selling, general and administrative expense category within the International segment exceeded 10% of total consolidated selling, general and administrative expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the three months ended June 30, 2026 primarily include costs related to share-based compensation expense of $10.3 million, restructuring costs of $1.0 million, adult use campaign and political initiatives of $3.2 million as well as acquisition, transaction, and other non-recurring costs of $2.8 million. Other adjustments for the three months ended June 30, 2025 primarily include costs related to share-based compensation expense of $8.5 million, restructuring costs of $1.3 million, as well as acquisition, transaction, and other non-recurring costs of $2.7 million. |
| Six months ended June 30, | |||||||||||||||||||||||||||||||||||
| Domestic | International(1) | Total | |||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||
| Retail revenues | $ | 439,601\u00a0 | $ | 436,028\u00a0 | $ | 32,238\u00a0 | $ | 23,988\u00a0 | $ | 471,839\u00a0 | $ | 460,016\u00a0 | |||||||||||||||||||||||
| Wholesale revenues | 125,562\u00a0 | 105,030\u00a0 | 60,233\u00a0 | 48,427\u00a0 | 185,795\u00a0 | 153,457\u00a0 | |||||||||||||||||||||||||||||
| Management fee income | 519\u00a0 | 322\u00a0 | 6,177\u00a0 | 3,416\u00a0 | 6,696\u00a0 | 3,738\u00a0 | |||||||||||||||||||||||||||||
| Total revenues, net | 565,682\u00a0 | 541,380\u00a0 | 98,648\u00a0 | 75,831\u00a0 | 664,330\u00a0 | 617,211\u00a0 | |||||||||||||||||||||||||||||
| Cost of goods sold (less depreciation and amortization) | 253,139\u00a0 | 241,074\u00a0 | 55,202\u00a0 | 40,356\u00a0 | 308,341\u00a0 | 281,430\u00a0 | |||||||||||||||||||||||||||||
Selling, general and administrative(2) | 220,598\u00a0 | 192,623\u00a0 | 33,949\u00a0 | 29,553\u00a0 | 254,547\u00a0 | 222,176\u00a0 | |||||||||||||||||||||||||||||
Less: other adjustments(3) | (30,563) | (16,917) | (1,531) | (3,445) | (32,094) | (20,362) | |||||||||||||||||||||||||||||
| Adjusted EBITDA | 122,508\u00a0 | 124,600\u00a0 | 11,028\u00a0 | 9,367\u00a0 | 133,536\u00a0 | 133,967\u00a0 | |||||||||||||||||||||||||||||
| Capital expenditures | 28,425\u00a0 | 26,932\u00a0 | 4,490\u00a0 | 4,372\u00a0 | 32,915\u00a0 | 31,304\u00a0 | |||||||||||||||||||||||||||||
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries\u2019 operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company\u2019s consolidated operating results, they may impact the comparability of the Company\u2019s segmented results across quarters and year-over-year. | |||||||||||||||||||||||||||||||||||
(2) See Note 20 \u2014 Selling, general and administrative expenses for additional detail regarding the composition of consolidated selling, general and administrative expenses. No individual selling, general and administrative expense category within the International segment exceeded 10% of total consolidated selling, general and administrative expenses. | |||||||||||||||||||||||||||||||||||
(3) Other adjustments for the six months ended June 30, 2026 primarily include costs related to share-based compensation expense of $19.9 million, restructuring costs of $2.2 million, adult use campaign and political initiatives of $3.9 million as well as acquisition, transaction, and other non-recurring costs of $6.1 million. Other adjustments for the six months ended June 30, 2025 primarily include costs related to share-based compensation expense of $13.1 million, restructuring costs of $2.1 million, as well as acquisition, transaction, and other non-recurring costs of $5.2 million. |
| Total assets: | Domestic | International | Total | ||||||||||||||
| June 30, 2026 | $ | 2,394,744\u00a0 | $ | 419,613\u00a0 | $ | 2,814,357\u00a0 | |||||||||||
| December 31, 2025 | 2,415,707\u00a0 | 429,608\u00a0 | 2,845,315\u00a0 |
As of June\u00a030, 2026 | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Contingent consideration liabilities | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,879\u00a0 | $ | 3,879\u00a0 | |||||||||||||||
| $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,879\u00a0 | $ | 3,879\u00a0 |
As of December\u00a031, 2025 | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Contingent consideration liabilities | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,358\u00a0 | $ | 3,358\u00a0 | |||||||||||||||
| $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,358\u00a0 | $ | 3,358\u00a0 |
| As of | |||||||||||||||||
| Financial Instrument | Valuation Methodology | Level 3 Input | June 30, 2026 | December 31, 2025 | |||||||||||||
| Contingent consideration \u2013 EMMAC | Monte Carlo simulation | Timing of achievement | 2 years | 2 years | |||||||||||||
| Probability of achievement | 99.0\u00a0 | % | 99.0\u00a0 | % |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| 0 to 90 days | $ | 63,391\u00a0 | $ | 66,649\u00a0 | |||||||
| 91 to 180 days | 3,303\u00a0 | 3,572\u00a0 | |||||||||
| 181 days + | 3,917\u00a0 | 3,643\u00a0 | |||||||||
| Trade accounts receivable | $ | 70,611\u00a0 | $ | 73,864\u00a0 |
As of June\u00a030, 2026 | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Contingent consideration liabilities | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,879\u00a0 | $ | 3,879\u00a0 | |||||||||||||||
| $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,879\u00a0 | $ | 3,879\u00a0 |
As of December\u00a031, 2025 | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Contingent consideration liabilities | $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,358\u00a0 | $ | 3,358\u00a0 | |||||||||||||||
| $ | \u2014\u00a0 | $ | \u2014\u00a0 | $ | 3,358\u00a0 | $ | 3,358\u00a0 |
| As of | |||||||||||||||||
| Financial Instrument | Valuation Methodology | Level 3 Input | June 30, 2026 | December 31, 2025 | |||||||||||||
| Contingent consideration \u2013 EMMAC | Monte Carlo simulation | Timing of achievement | 2 years | 2 years | |||||||||||||
| Probability of achievement | 99.0\u00a0 | % | 99.0\u00a0 | % |
| As of | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| 0 to 90 days | $ | 63,391\u00a0 | $ | 66,649\u00a0 | |||||||
| 91 to 180 days | 3,303\u00a0 | 3,572\u00a0 | |||||||||
| 181 days + | 3,917\u00a0 | 3,643\u00a0 | |||||||||
| Trade accounts receivable | $ | 70,611\u00a0 | $ | 73,864\u00a0 |
| As of | As Revised(2) | ||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
Included in Condensed Consolidated Balance Sheets: | |||||||||||
| Cash | $ | 78,114\u00a0 | $ | 77,119\u00a0 | |||||||
| Accounts receivable | 48,252\u00a0 | 47,701\u00a0 | |||||||||
| Inventory | 204,504\u00a0 | 195,184\u00a0 | |||||||||
| Other current assets | 34,918\u00a0 | 37,369\u00a0 | |||||||||
| Total current assets | 365,788\u00a0 | 357,373\u00a0 | |||||||||
| Property, plant, and equipment , net | 459,805\u00a0 | 474,338\u00a0 | |||||||||
| Right-of-use assets | 222,324\u00a0 | 201,434\u00a0 | |||||||||
| Intangible assets, net and goodwill | 1,303,607\u00a0 | 1,343,581\u00a0 | |||||||||
| Other long-term assets | 17,783\u00a0 | 15,454\u00a0 | |||||||||
| Total assets | $ | 2,369,307\u00a0 | $ | 2,392,180\u00a0 | |||||||
| Accounts payable | $ | 44,194\u00a0 | $ | 57,622\u00a0 | |||||||
| Accrued expenses | 65,570\u00a0 | 88,060\u00a0 | |||||||||
Income tax payable(2) | 5,337\u00a0 | 14,218\u00a0 | |||||||||
| Other current liabilities | 54,380\u00a0 | 49,178\u00a0 | |||||||||
| Total current liabilities | 169,481\u00a0 | 209,078\u00a0 | |||||||||
Deferred tax liability(2) | 81,622\u00a0 | 163,433\u00a0 | |||||||||
| Lease liabilities | 256,158\u00a0 | 239,223\u00a0 | |||||||||
| Long-term financial obligation | 195,431\u00a0 | 202,901\u00a0 | |||||||||
Long-term debt(1)(2) | 468,447\u00a0 | 449,168\u00a0 | |||||||||
Uncertain tax position(2) | 468,484\u00a0 | 531,508\u00a0 | |||||||||
| Other long-term liabilities | 9,794\u00a0 | 1,114\u00a0 | |||||||||
| Total liabilities | $ | 1,649,417\u00a0 | $ | 1,796,425\u00a0 | |||||||
| Equity attributable to Curaleaf Holdings, Inc. | $ | 719,890\u00a0 | $ | 595,755\u00a0 | |||||||
(1) In conjunction with the issuance of the Senior Secured Notes \u2013 2026 in December 2021, the Company entered into an intercompany loan agreement with Curaleaf Inc. On February 18, 2026, the Senior Secured Notes \u2013 2026 were repaid using proceeds from the issuance of the Senior Secured Notes \u2013 2029. The intercompany loan remains outstanding, is reflected herein and has been eliminated in the condensed consolidated financial statements. | |||||||||||
(2) The consolidated financial statements as of and for the year ended December\u00a031, 2025 accurately reflect the correct accounting treatment of the Company's variable interest entities (\"VIEs\"). During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the VIE information as of December\u00a031, 2025 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which (i) decreased income tax payable and total current liabilities by $287.6 million; (ii) increased deferred tax liabilities by $3.9 million, long-term debt by $1.2 million and uncertain tax positions by $271.9 million; (iii) resulted in a net decrease in total liabilities of $10.6 million; and (iv) increased equity attributable to Curaleaf Holdings, Inc. by $10.6 million and decreased net income attributable to Curaleaf Holdings, Inc. by $10.6 million. |
As Revised(1) | As Revised(1) | ||||||||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
Included in Condensed Consolidated Statements of Operations: | |||||||||||||||||||||||
| Revenues, net | $ | 288,695\u00a0 | $ | 310,586\u00a0 | $ | 565,682\u00a0 | $ | 548,376\u00a0 | |||||||||||||||
| Net income (loss) attributable to Curaleaf Holdings, Inc. | 32,295\u00a0 | (49,270) | 112,098\u00a0 | (100,320) | |||||||||||||||||||
(1) The consolidated financial statements for the three and six months ended June 30, 2025 accurately reflect the correct accounting treatment of the Company's VIEs. During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the VIE information for the three and six months ended June 30, 2025 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which decreased net loss attributable to Curaleaf Holdings, Inc. included in the VIE disclosure by $3.1 million for the three months ended June 30, 2025 and decreased net loss attributable to Curaleaf Holdings, Inc. by $8.6 million for the six months ended June 30, 2025. |
| As of | As Revised(2) | ||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
Included in Condensed Consolidated Balance Sheets: | |||||||||||
| Cash | $ | 78,114\u00a0 | $ | 77,119\u00a0 | |||||||
| Accounts receivable | 48,252\u00a0 | 47,701\u00a0 | |||||||||
| Inventory | 204,504\u00a0 | 195,184\u00a0 | |||||||||
| Other current assets | 34,918\u00a0 | 37,369\u00a0 | |||||||||
| Total current assets | 365,788\u00a0 | 357,373\u00a0 | |||||||||
| Property, plant, and equipment , net | 459,805\u00a0 | 474,338\u00a0 | |||||||||
| Right-of-use assets | 222,324\u00a0 | 201,434\u00a0 | |||||||||
| Intangible assets, net and goodwill | 1,303,607\u00a0 | 1,343,581\u00a0 | |||||||||
| Other long-term assets | 17,783\u00a0 | 15,454\u00a0 | |||||||||
| Total assets | $ | 2,369,307\u00a0 | $ | 2,392,180\u00a0 | |||||||
| Accounts payable | $ | 44,194\u00a0 | $ | 57,622\u00a0 | |||||||
| Accrued expenses | 65,570\u00a0 | 88,060\u00a0 | |||||||||
Income tax payable(2) | 5,337\u00a0 | 14,218\u00a0 | |||||||||
| Other current liabilities | 54,380\u00a0 | 49,178\u00a0 | |||||||||
| Total current liabilities | 169,481\u00a0 | 209,078\u00a0 | |||||||||
Deferred tax liability(2) | 81,622\u00a0 | 163,433\u00a0 | |||||||||
| Lease liabilities | 256,158\u00a0 | 239,223\u00a0 | |||||||||
| Long-term financial obligation | 195,431\u00a0 | 202,901\u00a0 | |||||||||
Long-term debt(1)(2) | 468,447\u00a0 | 449,168\u00a0 | |||||||||
Uncertain tax position(2) | 468,484\u00a0 | 531,508\u00a0 | |||||||||
| Other long-term liabilities | 9,794\u00a0 | 1,114\u00a0 | |||||||||
| Total liabilities | $ | 1,649,417\u00a0 | $ | 1,796,425\u00a0 | |||||||
| Equity attributable to Curaleaf Holdings, Inc. | $ | 719,890\u00a0 | $ | 595,755\u00a0 | |||||||
(1) In conjunction with the issuance of the Senior Secured Notes \u2013 2026 in December 2021, the Company entered into an intercompany loan agreement with Curaleaf Inc. On February 18, 2026, the Senior Secured Notes \u2013 2026 were repaid using proceeds from the issuance of the Senior Secured Notes \u2013 2029. The intercompany loan remains outstanding, is reflected herein and has been eliminated in the condensed consolidated financial statements. | |||||||||||
(2) The consolidated financial statements as of and for the year ended December\u00a031, 2025 accurately reflect the correct accounting treatment of the Company's variable interest entities (\"VIEs\"). During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the VIE information as of December\u00a031, 2025 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which (i) decreased income tax payable and total current liabilities by $287.6 million; (ii) increased deferred tax liabilities by $3.9 million, long-term debt by $1.2 million and uncertain tax positions by $271.9 million; (iii) resulted in a net decrease in total liabilities of $10.6 million; and (iv) increased equity attributable to Curaleaf Holdings, Inc. by $10.6 million and decreased net income attributable to Curaleaf Holdings, Inc. by $10.6 million. |
As Revised(1) | As Revised(1) | ||||||||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
Included in Condensed Consolidated Statements of Operations: | |||||||||||||||||||||||
| Revenues, net | $ | 288,695\u00a0 | $ | 310,586\u00a0 | $ | 565,682\u00a0 | $ | 548,376\u00a0 | |||||||||||||||
| Net income (loss) attributable to Curaleaf Holdings, Inc. | 32,295\u00a0 | (49,270) | 112,098\u00a0 | (100,320) | |||||||||||||||||||
(1) The consolidated financial statements for the three and six months ended June 30, 2025 accurately reflect the correct accounting treatment of the Company's VIEs. During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the VIE information for the three and six months ended June 30, 2025 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which decreased net loss attributable to Curaleaf Holdings, Inc. included in the VIE disclosure by $3.1 million for the three months ended June 30, 2025 and decreased net loss attributable to Curaleaf Holdings, Inc. by $8.6 million for the six months ended June 30, 2025. |