Filing Flows › Curaleaf Holdings (CURLF) › Q3 2026 › vs Q3 2025
Curaleaf Holdings (CURLF) Q3 2026 vs Q3 2025 (year over year)
Curaleaf Holdings's revenue rose $34.8M (+11%) from $318M in Q3 2025 to $353M in Q3 2026. The biggest changes: Retail and wholesale revenues +$35.2M (+11%); Management fee income −$451K (-10%).
Curaleaf Holdings, Q3 2026: revenue $353M (+11% year over year), operating margin 0.8%, net loss $32.7M, operating cash flow $21.1M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 1.1% | 9.9% | -8.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Retail revenues | $243M | $226M | $17.0M | +8% |
| Wholesale revenues | $106M | $87.9M | $18.3M | +21% |
| Retail and wholesale revenues | $349M | $314M | $35.2M | +11% |
| Management fee income | $3.9M | $4.3M | −$451K | -10% |
| Revenue | $353M | $318M | $34.8M | +11% |
| Net loss | $32.7M | $56.7M | −$24.0M | -42% |
| Costs & expenses | $385M | $375M | $10.8M | +3% |
| Operating costs | $350M | $311M | $38.8M | +12% |
| Interest & other, net | $21.2M | $30.8M | −$9.6M | -31% |
| Income tax | $14.5M | $32.8M | −$18.3M | -56% |
| Cost of revenue | $182M | $157M | $24.9M | +16% |
| SG&A | $131M | $119M | $12.5M | +11% |
| Other operating costs | $36.5M | $35.1M | $1.4M | +4% |
| Operating cash sources | $65.6M | $59.3M | $6.3M | +11% |
| Depreciation & amortization | $51.5M | $49.0M | $2.5M | +5% |
| Share-based compensation | $14.0M | $10.3M | $3.8M | +36% |
| Net loss absorbed | $32.7M | $56.7M | −$24.0M | -42% |
| Working capital & other | $11.8M | −$45.1M | $56.9M | — |
| Operating cash flow | $21.1M | $47.7M | −$26.6M | -56% |
| Free cash flow (OCF − capex) | $4.0M | $31.6M | −$27.6M | -87% |
| Capital expenditures | $17.1M | $16.1M | $957K | +6% |
Questions
How much did Curaleaf Holdings's revenue grow year over year in Q3 2026?
Curaleaf Holdings's revenue rose $34.8M (+11%) from $318M in Q3 2025 to $353M in Q3 2026.
What drove Curaleaf Holdings's revenue change in Q3 2026?
Retail and wholesale revenues +$35.2M (+11%); Management fee income −$451K (-10%).