WAKEFIELD, Mass. – Curaleaf Holdings, Inc. (CURA / CURLF), a leading global cannabis company, announced significant international expansion and resilient financial performance in its second-quarter results for the period ending June 30, 2025. The company revealed it has been awarded a license to operate in Turkey, a major strategic move that opens a new market of 87 million people.
The announcement came as Curaleaf reported another quarter of powerful growth in its international segment, which saw revenues surge 62% year-over-year. This global momentum provides a strong counterpoint to a softer domestic market, positioning the company for its next phase of growth.
In a statement, Chairman and CEO Boris Jordan highlighted the company’s strategic progress and long-term vision. “Over the past decade, we’ve scaled Curaleaf into a global cannabis leader,” Jordan said. “Today, I’m proud to announce another key milestone: we have been awarded a license to operate in Turkey… further expanding our international footprint.”
Financial Highlights Show Strategic Focus
For the second quarter, Curaleaf reported net revenue of $315 million, a 1.5% increase from the first quarter of 2025, which aligns with the company’s previous guidance. While total revenue saw an 8% decrease compared to the same period last year, the company demonstrated improved operational efficiency.
Key financial metrics from the report include:
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Adjusted Gross Margin: A healthy 49%, representing a 120 basis point increase year-over-year, signaling improved profitability in its operations.
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Adjusted EBITDA: A solid $66 million, resulting in a 21% margin.
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International Revenue: A standout performer, growing 62% year-over-year to $40.9 million for the quarter.
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Cash Position: The company ended the quarter with $102 million in cash on hand, even after making $47 million in interest and debt payments.
“With our infrastructure built and asset base set, we’re now sharpening our focus on product quality, customer service, and supply chain excellence,” Jordan continued. “Global consumer demand for cannabis is strong and accelerating, and with the right team, strategy, and foundation in place, we are uniquely positioned to lead the next wave of industry growth.”
Operational Wins and Fortified Leadership
Beyond its expansion into Turkey, Curaleaf achieved several other operational milestones during and after the second quarter. The company has now taken 100% ownership of its international business, simplifying its structure and increasing operational flexibility.
In the U.S., Curaleaf expanded its retail presence to 154 nationwide locations with new store openings in Winter Park and St. Augustine, Florida, and Lima, Ohio.
The company also strengthened its product portfolio with the launch of its Anthem pre-roll brand in six states and its Select ACE (Aqueous Cannabis Extraction) oil in New York. On the medical front, its liquid cannabis inhalation device achieved EU-MDR certification, paving the way for launches in key European and Australian markets.
To spearhead this next chapter, Curaleaf announced the appointment of four senior executives, including a new President, Rahul Pinto, to deepen its commercial expertise and drive future growth.
