Highlights;
Crescent Labs Inc. Q2 2025 Financial and Operating Results Summary:
- Revenue: $164 million for the second quarter.
- Operating Cash Flow: $9 million.
- Gross Profit: $83 million.
- Adjusted Gross Profit: $83 million with an adjusted gross margin of 50.6% of revenue.
- SG&A Expenses: $51 million, representing 31.4% of revenue.
- Net Loss: $14 million, including $9 million in non-cash impairment charges related to California assets.
- Adjusted EBITDA: $41 million with an adjusted EBITDA margin of 25%.
- Market Position: Retained the No. 1 share position in multiple billion-dollar markets.
Management Commentary Highlights:
- Delivered solid performance in line with guidance and maintained market share.
- Signed a commitment letter for a $325 million term loan to refinance debt, improving the balance sheet and creating financial flexibility.
- The cannabis industry is entering a phase of consolidation and rationalization, with increasing M&A opportunities.
- Cresco Labs is positioned as a partner of choice for industry consolidation due to its operating model, productive footprint, and clean capital structure.
Balance Sheet and Liquidity:
- Current Assets: $315 million as of June 30, 2025, including $147 million in cash and cash equivalents.
- Debt: Senior secured term loan debt of $354 million (net of discount and issuance costs) and a mortgage loan of $18 million (net of discount and issuance costs).
- Shares: 483,444,948 subordinate voting shares on a fully converted basis as of June 30, 2025.
For more detailed financial breakdowns, refer to the company’s investor website or the provided links.
[Press Release] – Cresco Labs Inc., a leading name in branded cannabis products and the operator of Sunnyside dispensaries, today announced its second-quarter financial and operational results for the period ending June 30, 2025. The company, known for its portfolio of top-tier cannabis brands, shared its financials in accordance with U.S. GAAP. For more details, visit their investor website: here.
Q2 2025 Highlights:
- Revenue: $164 million for the quarter.
- Operating Cash Flow: $9 million.
- Gross Profit: $83 million; adjusted gross profit of $83 million with a 50.6% margin.
- SG&A: $51 million, representing 31.4% of revenue.
- Net Loss: $14 million, including $9 million in non-cash impairment charges related to California assets.
- Adjusted EBITDA: $41 million, reflecting a 25% margin.
- Market Leadership: Maintained the No. 1 share in several billion-dollar markets. [1]
Management Insights:
“Cresco delivered a solid performance this quarter, aligning with our guidance and maintaining our market share despite fierce competition. We generated cash flow through diligent operations and secured a $325 million term loan to refinance our debt. This move strengthens our balance sheet, preserves equity, and offers flexibility for future opportunities.
The cannabis industry is evolving, with consolidation and rationalization setting the stage for growth. We’re exploring strategic M&A opportunities in productive states, remaining disciplined to invest in sustainable growth. Our operating model, efficient footprint, and robust capital structure position us well as the industry consolidates.”
Financial Status:
- Current Assets: $315 million as of June 30, 2025, including $147 million in cash.
- Debt: $354 million in senior secured term loans and $18 million in mortgage loans.
- Shares: 483,444,948 subordinate voting shares fully converted.
For more details on the financials and non-GAAP measures, refer to Cresco’s press release here.
This press release highlights Cresco Labs’ strategic moves and financial health, positioning it as a key player in the evolving cannabis industry.
Source: https://www.cannabisbusinesstimes.com/finance/news/15752462/cresco-labs-reports-164m-in-q2-revenue
