Cresco Labs Posts Wider Q1 Net Loss As Revenue Slips, Expenses Climb

(RTTNews) - Cresco Labs Inc. (CRLBF), a cannabis products company, on Friday reported a wider net loss for the first quarter, reflecting decreased revenue and higher expenses.

For the three-month period to March 31, the company reported a net loss of $15.234 million, compared with a loss of $2.055 million in the same period last year. Loss before income taxes was $0.918 million as against a profit of $15.948 million a year ago.

Income from operations moved down to $13.589 million from last year's $29.163 million. Excluding items, EBITDA was $36.233 million, compared with $53.161 million a year ago.

Total operating expenses rose to $65.042 million from the prior year's $63.049 million. Total other expenses climbed to $14.507 million from $13.215 million in 2024.

Revenue was $165.757 million, down from $184.295 million in the previous year, reflecting the company's successful plan to reduce AR exposure by limiting sales to wholesale accounts with credit risk.