Cresco Labs Delivers $30 Million in Q1 Working Money Waft

[PRESS RELEASE] – CHICAGO, Might 30, 2025 – Cresco Labs Inc., the business chief in branded hashish merchandise with a portfolio of The usa’s hottest manufacturers and the operator of Sunnyside dispensaries, launched its monetary and working effects for the primary quarter ended and yr ended March 31, 2025. All monetary knowledge offered on this free up is reported according to U.S. usually authorized accounting ideas (GAAP) and in U.S. bucks, except differently indicated, and is to be had at the corporate’s investor web page, right here.

First Quarter 2025 Highlights

• First quarter income of $166 million. First quarter working money go with the flow of $30 million and loose money go with the flow¹ of $25 million.
• Gross benefit of $79 million. Adjusted gross benefit¹ of $82 million; and an adjusted gross margin¹ of 49% of income.
• SG&A of $58 million or 35% of income.
• Internet lack of $15 million.
• First quarter adjusted EBITDA¹ of $36 million and altered EBITDA margin¹ of twenty-two%.
• Retained the No. 1 percentage place in more than one billion-dollar markets.²

Control Remark

“We entered 2025 with the versatility and monetary power had to navigate marketplace volatility, whole our debt refinancing, and stay each strategic and affected person as we make investments thoughtfully for long-term expansion,” Cresco Labs co-founder and CEO Charlie Bachtell stated.

“In Q1, we delivered $166 million in income, reflecting our a hit plan to cut back AR publicity by means of proscribing gross sales to wholesale accounts with credit score chance,” he stated. “We generated $82 million in adjusted gross benefit and $36 million in adjusted EBITDA. Most significantly, those movements translate into sturdy money effects. We generated $30 million in working money go with the flow and ended the quarter with $162 million in money, our best steadiness prior to now 3 years.

“We’re curious about making sure our steadiness sheet stays within the most powerful imaginable place to strengthen long-term worth advent. By means of staying disciplined and considerate in how we deploy capital, we’re positioning Cresco Labs to pressure margin growth, acquire marketplace percentage, and spend money on sustainable expansion when the fitting alternatives get up.”

Stability Sheet, Liquidity, and Different Monetary Data

• As of March 31, 2025, present belongings have been $311 million, together with money, money equivalents, and limited money of $159 million. The corporate had senior secured time period mortgage debt, web of cut price and issuance prices, of $353 million and a loan mortgage, web of cut price and issuance prices of $18 million.
• Overall stocks on an absolutely transformed foundation to subordinate balloting stocks have been 484,592,240 as of March 31, 2025.

Convention Name and Webcast

The Corporate will host a convention name and webcast to speak about its monetary effects at 8:30 a.m. ET on June 2, 2025.  The convention name could also be accessed by the use of webcast or by means of dialing 1-833-470-1428 (US Toll Loose) or 1-404-975-4839 (US Native), offering get admission to code 671160. Archived get admission to to the webcast might be to be had for twelve months on Cresco Labs’ investor web page, right here.

Non-GAAP Monetary Measures

This free up reviews its monetary ends up in accordance with U.S. GAAP and contains positive non-GAAP monetary measures that wouldn’t have standardized definitions below U.S. GAAP. The non-GAAP measures come with: income sooner than hobby, taxes, depreciation, and amortization (EBITDA); adjusted EBITDA; adjusted EBITDA margin; adjusted gross benefit; adjusted gross benefit margin; adjusted promoting, normal, and administrative bills (adjusted SG&A), adjusted SG&A margin; and loose money go with the flow are non-GAAP monetary measures and wouldn’t have standardized definitions below U.S. GAAP. The corporate defines those non-GAAP monetary measures as follows: EBITDA as web loss (source of revenue) sooner than hobby, taxes, depreciation, and amortization; adjusted EBITDA as EBITDA much less different (expense) source of revenue, web, truthful worth mark-up for obtained stock, changes for acquisition and non-core prices, impairment and share-based repayment; adjusted EBITDA margin as adjusted EBITDA divided by means of revenues, web; adjusted gross benefit as gross benefit much less truthful worth mark-up for obtained stock and changes for acquisition and non-core prices; adjusted gross benefit margin as adjusted gross benefit divided by means of revenues, web; adjusted SG&A as SG&A much less changes for acquisition and non-core prices; adjusted SG&A margin as adjusted SG&A divided by means of revenues, web; and loose money go with the flow as web money equipped by means of working actions much less purchases of belongings and gear and proceeds from tenant development allowances. The corporate has equipped the non-GAAP monetary measures, which aren’t calculated or offered according to U.S. GAAP, as supplemental knowledge and along with the monetary measures which might be calculated and offered according to U.S. GAAP and is probably not similar to an identical measures offered by means of different issuers. Those supplemental non-GAAP monetary measures are offered as a result of control has evaluated the monetary effects each together with and aside from the adjusted pieces and believes that the supplemental non-GAAP monetary measures offered supply further viewpoint and insights when inspecting the core working efficiency of the trade. Those supplemental non-GAAP monetary measures must no longer be regarded as awesome to, as an alternative choice to or as an alternative choice to, and must best be regarded as together with, the U.S. GAAP monetary measures offered herein. Accordingly, the corporate has integrated under reconciliations of the supplemental non-GAAP monetary measures to probably the most immediately similar monetary measures calculated and offered according to U.S. GAAP.