Curaleaf Reports Third Quarter 2019 Financial and Operational Results

Curaleaf Reports Third Quarter 2019 Financial and Operational Results

Reported Record Pro Forma Revenue(1)(2) of $129.0 million and Managed Revenue(1) of $73.2 Million Generated $9.0 million of Adjusted EBITDA(1) as Inflection Point Reached in Several Key States   Announced Amended Deal Terms for Select and Expiration of Hart-Scott-Rodino Act (HSR) Waiting Period WAKEFIELD, Mass., Nov. 19, 2019 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”or the “Company”), a leading vertically integrated cannabis operator in the U.S., today reported its financial and operating results for the third quarter ended September 30, 2019. All financial information is provided in U.S. dollars unless otherwise indicated. Q3 2019 Financial Highlights (Unaudited) ($ thousands, except per share amounts) Q3 2019 Q2 2019  % qoq Change Q3 2018  % yoy Change Managed Revenue(1) $73,192 $55,100 33% $24,350 201% Total Revenue $61,820 $48,489 27% $21,370 189% Gross profit before impact of biological assets $34,741 $26,020 34% $13,869 150% Gross profit on cannabis sales(1)  $23,602 $15,257 55% $9,124 159% Gross margin on cannabis sales(1)  47% 40% 55% Adjusted EBITDA(1) $9,016 $3,357 169% ($3,155) 386% Net income (loss) attributable to Curaleaf Holdings Inc. ($6,835) ($24,541) ($33,673) Net income (loss) per share – basic and diluted ($0.01) ($0.05) (0.09) 1 See “Non-IFRS Financial and Performance Measures” below…

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