Curaleaf Holdings (TSX:CURA) Is Down 5.8% After Strong International Gains and Wider Net Loss—Has the Bull Case Changed?

• Curaleaf Holdings, Inc. recently reported third quarter 2025 earnings, posting revenue of US$320.24 million and a net loss of US$57.03 million, with strong international revenue growth of 12% sequentially and 56% year-over-year.
• The company also completed the acquisition of its minority partner in Curaleaf International, launched a medically certified liquid inhalation device in the UK and Germany, and secured a US$100 million revolving line of credit to support further expansion.
• We'll explore how Curaleaf's substantial international growth and expanded European presence impacts its current investment narrative.

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Curaleaf Holdings Investment Narrative Recap

To own shares of Curaleaf Holdings, investors need confidence that the company can reverse recent revenue declines and rising losses through international expansion and product innovation, despite facing pricing pressure and regulatory uncertainty. This quarter’s robust international revenue growth is a key catalyst but does not materially change the biggest short-term risk: persistent margin compression tied to oversupply and competitive forces, which continues to weigh on financial performance. Although the expanded European presence is promising, ongoing net losses and tepid domestic growth sustain pressure on near-term results.

Among Curaleaf’s recent announcements, the amended credit agreement securing a US$100 million revolving line of credit stands out as most relevant, given the company’s need for financial flexibility while losses continue. Strengthening the balance sheet may help Curaleaf manage operational costs and support international initiatives, but it does not fully offset the margin risk spotlighted by this quarter’s earnings.

Yet even as Curaleaf accelerates global expansion, investors should carefully consider the continued margin pressures that could...

Read the full narrative on Curaleaf Holdings (it's free!)

Curaleaf Holdings' narrative projects $1.5 billion in revenue and $38.9 million in earnings by 2028. This requires 4.3% yearly revenue growth and a $305.8 million increase in earnings from the current loss of $266.9 million.

Uncover how Curaleaf Holdings' forecasts yield a CA$4.21 fair value, a 13% upside to its current price.

Exploring Other Perspectives

Five individual fair value estimates from the Simply Wall St Community range widely, from US$4.21 to US$14.85 per share. While many see upside, ongoing margin compression and increased net losses offer a contrasting lens for evaluating Curaleaf’s performance and outlook.

Explore 5 other fair value estimates on Curaleaf Holdings - why the stock might be worth just CA$4.21!

Build Your Own Curaleaf Holdings Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Curaleaf Holdings research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Curaleaf Holdings research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Curaleaf Holdings' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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