Cresco Labs Inc. CRLBF reported on Wednesday a fourth-quarter revenue of $175.91 million, down from $188.24 million a year ago, beating the consensus of $172.13 million.
Fourth quarter operating cash flow stood at $29 million, with free cash flow of $27 million.
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“In 2024, the team executed with discipline — streamlining operations, prioritizing profitability and generating record free cash flow,” said Charlie Bachtell, Cresco Labs CEO and co-founder. “In 2025, we’re extending our focus to strategically deploy capital to create growth and maximize returns for the years ahead. It’s a straightforward approach: execute at the highest level, generate cash, reinvest in high-ROI opportunities, and repeat.”
Gross margin fell from 51.1% to 47.8%. Adjusted gross profit was $87 million, with a gross margin of 49.5%, down from 53% year-over-year.
Operating profit fell from $27.09 million to $19.41 million.
Fourth quarter Adjusted EBITDA reached $42 million, with a margin of 24%.
Earlier this week, the vertically integrated cannabis and medical marijuana company announced its management services agreement with a Tier 3 Cultivation License in Kentucky.
The agreement entitles Cresco Labs to manage and operate a cultivation facility with up to 25,000 square feet of canopy, marking a significant milestone for the company and establishing Cresco Labs as one of only two operators of Kentucky’s coveted Tier 3 cultivation licenses.
CRLBF Price Action: Cresco Labs is down 0.13% at 74 cents at publication Wednesday.
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