Cresco Labs, Inc. · CSE:CL
Cresco Labs — Q3 2025 Earnings Presentation
16 slides from Cresco Labs's earnings presentation, Nov 5, 2025
Slide 1: Disciplined Capital Allocation, Positioned for Strategic Growth
DISCIPLINED CAPITAL ALLOCATION, POSITIONED FOR STRATEGIC GROWTH CSE: CL OTC: CRLBF THIRD QUARTER 2025 NOVEMBER 5, 2025
Slide 2: Disclaimer
DISCLAIMER Forward-Looking Information and Statements This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. S
Slide 3: Cresco Labs At-a-Glance
CRESCO LABS AT-A-GLANCE Leading Wholesaler of Branded Cannabis Products and Highly Productive Dispensaries WHOLESALE RETAIL Leading Portfolio of Brands 71 Operating Stores2 #1 Market Share in Multiple Billion Dollar Markets1 Retail Network Outperforms Fair Share3 Investing in Exclusive Genetics, Pro
Slide 4: 2025 Growth Priorities
2025 GROWTH PRIORITIES Creating the Strongest and Most Valuable Cresco Labs STRATEGIC HIGHLY EXPANSION FOOTPRINT GROWTH PRODUCTIVE RETAIL BEYOND THE CORE Maximize core Expand Expand into & new market retail network new growth opportunities & efficiency platforms 4
Slide 5: Key Metrics, Q3 2025
KEY METRICS, Q3 2025 Q3 2025 RESULTS ($ in millions) Flexibility and financial strength needed to navigate market volatility as we prepare to invest thoughtfully for long-term growth Total Revenue $164.9 Q2 to Q3 % Growth / (Decline) 0.8% Topline Revenue of $165 Million, Adj. Gross Profit $80.5 stro
Slide 6: Prioritizing Cash Generation
PRIORITIZING CASH ANNUAL OPERATING GENERATION CASH FLOW Improving Efficiency and Cashflow, Redeploying Capital with Better Paybacks and Higher Returns $132M $59M Generated ~$45 million in operating cash flow in 2025 YTD paid down ~$35 million in debt and ended the quarter with ~82 million in cash an
Slide 7: Wholesaler & Distributor of America's Leading Cannabis Brands
WHOLESALER & DISTRIBUTOR OF AMERICA’S LEADING CANNABIS BRANDS 13 Production Sites 1 million total cultivation facility square footage #1 Market Share in multiple $1 billion+ markets
Slide 8: Proven Depth in Wholesale
PROVEN DEPTH IN WHOLESALE Winning with Quality Products and Innovative Infusion FLOWER VAPES CONCENTRATES EDIBLES MEDICINALS BEST BETTER GOOD
Slide 9: Highly Productive Retailer
HIGHLY PRODUCTIVE RETAILER 71 Operating Retail Locations As of September 30, 2025 Outperforming Fair Share 20% more productive than the average store across our footprint Source: Hoodie Analytics as of September 30th 2025 9
Slide 10: Sunnyside.shop
SUNNYSIDE.SHOP An E-Commerce Platform Unlike Any Other – Unparalleled Proprietary Capabilities, Insights and Experience DIGITAL SHOPPER 77% of Q3 2025 Customers Were Digital Shoppers CUSTOMER RETENTION 62% of Q2 2025 Customers Returned in Q3 2025 As of September 30th 2025, based on internal and stat
Slide 11: State-by-State Asset Summary
STATE-BY-STATE ASSET SUMMARY Strong Positions in Markets That Matter – Driving Share Leadership Today and Capturing Growth of Tomorrow As of September 30, 2025 FL IL KY MA MI NY OH PA TOTAL Population #MM 23.8 12.8 4.6 7.2 10.1 19.9 11.9 13.1 103.4 6 | AU+M Legal Status AU / M M Both M Both Both Bot
Slide 12: Financial Results
FINANCIAL RESULTS
Slide 13: Financial Highlights: Capitalization Summary
FINANCIAL HIGHLIGHTS Capitalization Summary SHARES OUTSTANDING NET DEBT Share Class (# in millions) as of 09/30/2025 Balance ($ in Millions) as of 09/30/2025 Super Voting Shares 0.5 Debt Outstanding (ST) $9.8 Redeemable Units 87.3 Debt Outstanding (LT) 415.3 Subordinated Voting Shares 340.5 Long-ter
Slide 14: Financial Highlights: Reconciliation of Non-GAAP Measures
FINANCIAL HIGHLIGHTS Reconciliation of Non-GAAP Measures ADJUSTED GROSS PROFIT ADJUSTED EBITDA For the Three Months Ending September 30 ($ in Millions) Q3 2025 Q3 2024 For the Three Months Ending September 30 ($ in Millions) Q3 2025 Q3 2024 Net income (loss) ($22.0) ($7.7) Revenue, net $164.9 $179.8
Slide 15: Financial Highlights: Reconciliation of Non-GAAP Measures
FINANCIAL HIGHLIGHTS Reconciliation of Non-GAAP Measures ADJUSTED SG&A FREE CASH FLOW For the Three Months Ending September 30 ($ in Millions) Q3 2025 Q3 2024 For the Three Months Ending September 30 ($ in Millions) Q3 2025 Q3 2024 Selling, general and administrative $51.6 $56.9 Net cash provided by
Slide 16: Thank You
THANK YOU INVESTORS investors@crescolabs.com MEDIA press@crescolabs.com GENERAL INQUIRIES 312-929-0993 info@crescolabs.com