CHICAGO, IL – May 30, 2025 — Cresco Labs Inc., a national leader in cannabis production and retail, has reported robust financials for the first quarter of 2025, including $30 million in operating cash flow and $166 million in revenue. The company emphasized financial discipline, strategic investment, and a long-term focus as it continues to navigate market headwinds and regulatory uncertainty in the cannabis sector.
Q1 2025 Financial Highlights
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Revenue: $166 million
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Operating Cash Flow: $30 million
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Free Cash Flow (Non-GAAP): $24.7 million
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Adjusted Gross Profit: $82 million (49% of revenue)
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Adjusted EBITDA: $36 million (22% margin)
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Net Loss: $15 million
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Cash Position: $162 million, highest in three years
Cresco maintained its number-one share position in several billion-dollar U.S. markets, according to Hoodie Analytics.
“We’re focused on ensuring our balance sheet remains in the strongest possible position to support long-term value creation,” said CEO and Co-founder Charlie Bachtell. “By staying disciplined and thoughtful in how we deploy capital, we’re positioning Cresco Labs to drive margin expansion, gain market share, and invest in sustainable growth when the right opportunities arise.”
Strategic Business Approach
Cresco’s strategy to limit exposure to wholesale accounts with high credit risk led to a tighter but more stable revenue model. This cautious yet effective approach allowed the company to end the quarter with its strongest cash balance in three years — a notable milestone given the cash constraints many operators in the cannabis industry are facing.
The company also completed a debt refinancing earlier in the year, reinforcing its ability to navigate uncertain market conditions with improved liquidity and lower financing risk.
Balance Sheet Overview
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Current Assets: $311 million
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Cash & Equivalents: $159 million
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Total Assets: $1.36 billion
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Current Liabilities: $113 million
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Long-Term Liabilities: $875 million
Brand & Retail Growth
Cresco Labs continues to lead in branded cannabis product sales, operating top-performing dispensaries under the Sunnyside banner. Its product portfolio includes nationally recognized names like Cresco, High Supply, Good News, Wonder Wellness Co., FloraCal, Mindy’s, and Remedi.
Their consumer-first strategy is matched by advocacy, with the company remaining active in legislative efforts and community outreach through its SEED initiative, focused on equity, education, and diversity.
The company will hold a webcast on June 2, 2025, to further break down results and offer forward-looking guidance. Despite reporting a net loss of $15 million, management remains confident in its operational strategy, emphasizing a focus on margin improvement and prudent investment.
