Curaleaf Announces Financial Results for Second Quarter 2024
Revenue Increases 2% Year-Over-Year to $342 Million
Company Anticipates Tax Savings of Over $150 Million
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF), a leading international provider of cannabis consumer products, today announced its financial results for the second quarter ended June 30, 2024.
Revenue for the second quarter of 2024 was $342 million, an increase of 2% year-over-year. This growth was driven by strength in Maryland, New York, Utah, and Ohio, as well as 78% growth in the company's International segment.
The company also announced that it anticipates saving over $150 million in taxes due to the Drug Enforcement Administration's (DEA) rescheduling of cannabis. This savings will be used to accelerate growth initiatives and drive margin expansion.
"We are pleased with our financial results for the second quarter, which were driven by continued strong demand for our products," said Joseph Lusardi, Chairman of the Board of Curaleaf. "We believe that the DEA's rescheduling of cannabis will provide us with a significant competitive advantage and allow us to accelerate our growth plans."
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