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Curaleaf Holdings Inc CURLF

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Curaleaf Sales and Profits Keep Growing in First Quarter; We View Shares As Undervalued

Analyst Note

| Kristoffer Inton |

Curaleaf’s first quarter looked fairly straightforward to us, as both top line and profits continued to grow. Total revenue grew 13% sequentially and 170% year over year to $260 million. Higher volume helped gross margin expand about 100 basis points sequentially and more than 600 basis points compared with the prior year quarter to 49%. Further, operating leverage on overhead costs helped drive adjusted EBITDA to $63 million, up 16% sequentially and 213% year over year.

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Company Profile

Business Description

Curaleaf is headquartered in Wakefield, Massachusetts, and cultivates and sells medicinal and recreational cannabis in the U.S. The company has operations in 23 states, including the assets from the Cura Select and Grassroots acquisitions. Its brands include Curaleaf, UKU, Select, and Grassroots. The company acquired EMMAC Life Sciences in March 2021, beginning its foray into the global medical market in competition with Canadian cannabis producers.

Contact
301 Edgewater Place, Suite 405
Wakefield, MA, 01880, Canada
T +1 781 451-0150
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 3,900

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