Cresco Labs Announces Updated First Quarter 2025 Earnings Date
CHICAGO, May 29, 2025--(BUSINESS WIRE)--Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) ("Cresco" or "Company"), announced today that it will file its first quarter interim financial statements and MD&A on Friday, May 30, 2025.
Over the past three weeks, the Company has worked closely with its independent auditors to complete their review of the financial statements. The Company is pleased to report that the review was completed with no material changes from what was prepared for presentation on May 9th and looks forward to hosting a conference call and webcast to discuss its financial results.
Event: Cresco Labs First Quarter 2025 Earnings Conference CallDate: Monday, June 2, 2025Time: 8:30 am ETWebcast: LINK Conference Call Registration: LINK Dial-in: 1-833-470-1428 (US Toll Free), 1-404-975-4839 (US Local)Access Code: 671160
Archived access to the webcast will be available for one year on the Cresco Labs investor relations website.
About Cresco Labs Inc.
Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting www.crescolabs.com or following the Company on Facebook, X or LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250528360138/en/
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Media press@crescolabs.com
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General Inquiries 312-929-0993info@crescolabs.com
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Parochial disputes like this also do not usually make it out of the pages of the Church Times, but the heated battle for St Oswald's, a 14th-century church set atop a hill in the centre of Malpas, has unfolded in a spectacularly dramatic fashion. Once you get people started on the subject, the floodgates open. A vocal group of parishioners and former lay people claim that the Rev Dr Janine Arnott, the rector in question, has taken what was a thriving rural parish – an increasing rarity in the Church of England – and put its flock asunder. She is variously accused of banning individuals from the choir (it has since been disbanded entirely), removing the chief bellringer, barring access to the bell tower with 'broomsticks', and has reportedly overseen the dwindling of the congregation of around 60 to fewer than 10 people. The recent village-wide celebrations of VE Day in May this year were seen by many to be the last straw, as Arnott reportedly declined to allow a village choir to sing a rendition of I Vow To Thee My Country in the churchyard (her detractors claim that this was because some members were her ex-congregants). 'The story here is of a complete lack of accountability of a newly trained minister who is clearly having difficulty running her first parish,' claims one parishioner, Dr Gregory Williams, 60. 'Within a short period of time, the director of music resigned and the choir left. A while later, the tower captain was locked out of the bell tower with no explanation given and the bell tower door was barricaded. The bells fell silent. The congregation numbers soon collapsed, and at the current time, very little money is coming into the church,' he says. In fact, the tower captain, Ben Kellett, had apparently found himself locked out of the tower after declining Arnott's request to sign a 'volunteer' agreement outlining his duties. Arnott had also asked Kellett for a list of churchgoers with keys to the tower and, it is claimed, took issue when he did not provide one. Several parishioners wrote to the Bishop of Cheshire, the Right Rev Mark Tanner, hoping to persuade him to intervene, and even filed an 'informal' complaint, which wasn't upheld. Now, an insurgent group of Malpas parishioners or allies – their identities remain unknown – have taken matters into their own hands, and Tanner has had to intervene after 'libellous' flyers signed from the 'Little Malpas People' were plastered around Chester Cathedral over Easter. One of the flyers, glued to the exterior of the cathedral with permanent adhesive, said: 'Dear Bishop Mark. Please do your moral duty and protect your flock. 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One churchgoer, meanwhile, told The Telegraph that she has been so upset by the rector's behaviour that she can't speak about the dispute without getting a nosebleed. The rift began with an unlikely argument over the Agnus Dei. In a meeting with the church choir in 2023 that has since become infamous locally, Arnott told them they could no longer sing this prayer (which often precedes Communion) in Latin as they had done for years, as this was against canon law. Diana Webber, a former safeguarding officer, resigned over this disagreement and Arnott's handling of relationships with parishioners. From the start, she was 'very concerned about [Arnott's] attitude,' Webber says, claiming that Arnott 'appeared to have taken a dislike to the choir.' A PCC meeting was called shortly afterwards – unfortunately, on Palm Sunday, the first day of Holy Week, despite protestations from members of the council. 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Conference Call Dial-In Information: United States (Toll Free): 1-833-470-1428 United States: 1-404-975-4839 United Kingdom (Toll Free): +44 808 189 6484 United Kingdom: +44 20 8068 2558 Global Dial-in Numbers Access code: 566058 Please access the call at least 10 minutes prior to the time the conference is set to begin. Please ask to be joined into the Informa TechTarget call. Conference Call Webcast Information: This webcast can be accessed via Informa TechTarget's website at: Conference Call Replay Information: A replay of the conference call will be available via telephone beginning one (1) hour after the conference call through July 4, 2025 at 11:59 p.m. EDT. To hear the replay: United States (Toll Free): 1-866-813-9403 United States: 1-929-458-6194 Access Code: 693898 About Informa TechTarget TechTarget, Inc. (Nasdaq: TTGT), which also refers to itself as Informa TechTarget, informs, influences and connects the world's technology buyers and sellers, helping accelerate growth from R&D to ROI. With a vast reach of over 220 highly targeted technology-specific websites and over 50 million permissioned first-party audience members, Informa TechTarget has a unique understanding of and insight into the technology market. Underpinned by those audiences and their data, we offer expert-led, data-driven, and digitally enabled services that have the potential to deliver significant impact and measurable outcomes to our clients: Trusted information that shapes the industry and informs investment Intelligence and advice that guides and influences strategy Advertising that grows reputation and establishes thought leadership Custom content that engages and prompts action Intent and demand generation that more precisely targets and converts Informa TechTarget is headquartered in Boston, MA and has offices in 19 global locations. For more information, visit and follow us on LinkedIn. © 2025 TechTarget, Inc. All rights reserved. All trademarks are the property of their respective owners. Non-GAAP Financial Measures This release and the accompanying tables include a discussion of Adjusted EBITDA, Adjusted EBITDA Margin, Combined Company Adjusted EBITDA and Combined Company Adjusted EBITDA Margin, all of which are non-GAAP financial measures which are provided as a complement to results provided in accordance with GAAP. 'Adjusted EBITDA' means earnings before net interest, income taxes, depreciation and amortization, as further adjusted to exclude stock-based compensation, other income and expenses such as asset impairment and impairment related to goodwill, and costs related to mergers, acquisitions or reduction in forces expenses, if any. 'Adjusted EBITDA Margin' means Adjusted EBITDA divided by Revenue. 'Combined Company Adjusted EBITDA' means earnings before net interest, income taxes, depreciation and amortization, as further adjusted to exclude stock-based compensation, other income and expenses such as asset impairment and impairment related to goodwill, and costs related to mergers, acquisitions or reduction in forces expenses, if any. See Footnote 5 of the Company's Form 10-K for December 31, 2024 for the unaudited pro forma revenue and net loss. The items included in the calculation assume the acquisition of Former TechTarget had occurred on January 1, 2023. 'Combined Company Adjusted EBITDA Margin' means Combined Company Adjusted EBITDA divided by Combined Company Revenue. 'Combined Company Revenue' means revenue calculated as if the acquisition of Former TechTarget occurred on January 1, 2023. See Footnote of the Company's Form 10-K for December 31, 2024. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, our definitions of Adjusted EBITDA, Adjusted EBITDA margin, Combined Company Adjusted EBITDA and Combined Company Adjusted EBITDA Margin, may not be comparable to the definitions as reported by other companies. We believe that these measures provide relevant and useful information to enable us and investors to compare our operating performance using an additional measurement. We use these measures in our internal management reporting and planning process as primary measures to evaluate the operating performance of our business, as well as potential acquisitions. The components of Adjusted EBITDA and Combined Company Adjusted EBITDA include the key revenue and expense items for which our operating managers are responsible and upon which we evaluate their performance. Adjusted EBITDA is also used in presentations to our Board of Directors. Furthermore, we intend to provide these non-GAAP financial measures as part of our future earnings discussions and, therefore, the inclusion of these non-GAAP financial measures will provide consistency in our financial reporting. A reconciliation of these non-GAAP measures to GAAP is provided in the accompanying tables, except that full reconciliations of certain forward-looking non-GAAP measures are not provided because the Company is unable to provide such reconciliations without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of certain significant items. These items include, but not limited to, acquisition and integration costs, amortization of intangible assets, restructuring and other expenses, asset impairment, and the income tax effect of these items. These items are uncertain, depend on various factors, including, but not limited to, our recent acquisition of Former TechTarget and could have a material impact on GAAP reported results for the relevant period. Cautionary Note Regarding Forward-Looking Statements This press release contains 'forward-looking statements'. All statements, other than historical facts, are forward-looking statements, including: statements regarding the expected benefits of the transactions consummated on December 2, 2024 (the 'Closing Date') pursuant to the Agreement and Plan of Merger, dated as of January 10, 2024, among TechTarget Holdings Inc. (formerly known as TechTarget, Inc. ('Former TechTarget')), Informa TechTarget, Toro Acquisition Sub, LLC, Informa PLC, Informa US Holdings Limited, and Informa Intrepid Holdings Inc. (the 'Transactions'), such as improved operations, enhanced revenues and cash flow, synergies, growth potential, market profile, business plans, expanded portfolio and financial strength; the competitive ability and position of Informa TechTarget; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words 'may,' 'will,' 'should,' 'potential,' 'intend,' 'expect,' 'endeavor,' 'seek,' 'anticipate,' 'estimate,' 'overestimate,' 'underestimate,' 'believe,' 'plan,' 'could,' 'would,' 'project,' 'predict,' 'continue,' 'target,' or the negatives of these words or other similar terms or expressions that concern Informa TechTarget's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, and expectations that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements. Important factors that could cause actual results to differ materially from such plans, estimates, or expectations include, among others: unexpected costs, charges, or expenses resulting from the Transactions; uncertainty regarding the expected financial performance of Informa TechTarget; failure to realize the anticipated benefits of the Transactions, including as a result of integrating the Informa Tech Digital Businesses with the business of Former TechTarget; the ability of Informa TechTarget to implement its business strategy; difficulties and delays in Informa TechTarget achieving revenue and cost synergies; evolving legal, regulatory, and tax regimes; changes in economic, financial, political, and regulatory conditions, in the United States and elsewhere, and other factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics, geopolitical uncertainty, and conditions that may result from legislative, regulatory, trade, and policy changes associated with the current or subsequent U.S. administrations; Informa TechTarget's ability to meet expectations regarding the accounting and tax treatments of the Transactions; market acceptance of Informa TechTarget's products and services; the impact of pandemics and future health epidemics and any related economic downturns on Informa TechTarget and the markets in which it and its customers operate; changes in economic or regulatory conditions or other trends affecting the internet, internet advertising and IT industries; data privacy and artificial intelligence laws, rules, and regulations; the impact of foreign currency exchange rates; certain macroeconomic factors facing the global economy, including instability in the regional banking sector, disruptions in the capital markets, economic sanctions and economic slowdowns or recessions, rising inflation and interest rate fluctuations on the operating results of Informa TechTarget; and other matters included in Risk Factors of Informa TechTarget's Form 10-K for fiscal year 2024 (filed with the United States Securities and Exchange Commission (the 'SEC') on May 28, 2025) and other documents filed by Informa TechTarget from time to time with the SEC. This summary of risks and uncertainties should not be considered to be a complete statement of all potential risks and uncertainties that may affect Informa TechTarget. Other factors may affect the accuracy and reliability of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are not guarantees of future performance or outcomes. Actual performance and outcomes, including, without limitation, Informa TechTarget's actual results of operations, financial condition and liquidity, may differ materially from those made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statements speak only as of the date of this press release. None of Informa TechTarget, its affiliates, advisors or representatives, undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements. TechTarget, Inc. d/b/a Informa TechTarget Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (in thousands, except share data) For the Years Ended December 31, 2024 2023 2022 As Restated As Restated Revenues 1 $ 284,897 $ 252,101 $ 197,094 Cost of revenues 1,2 (107,256 ) (98,826 ) (72,308 ) Gross profit 177,641 153,275 124,786 Operating expenses: Selling and marketing 2 62,593 55,300 38,828 General and administrative 1,2 79,029 66,888 48,982 Product development 2 11,420 11,060 7,944 Depreciation 1,614 895 620 Amortization, excluding amortization of $592, $51, $0 included in cost of revenues 48,018 42,152 21,545 Impairment of goodwill 66,235 139,645 — Impairment of long-lived assets 2,019 577 178 Acquisition and integration costs 1 48,258 6,069 9,789 Remeasurement of contingent consideration (22,436 ) (123,944 ) 8,000 Total operating expenses 296,750 198,642 135,886 Operating loss (119,109 ) (45,367 ) (11,100 ) Related party interest expense (17,740 ) (24,649 ) (10,760 ) Interest income 1 4,138 3,487 521 Other income (expense), net 3,313 (875 ) 197 Loss before income tax benefit (129,398 ) (67,404 ) (21,142 ) Income tax benefit 12,535 9,627 16,857 Net loss $ (116,863 ) $ (57,777 ) $ (4,285 ) Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) (1,192 ) (20,497 ) 42,775 Unrealized loss on short-term investments (118 ) — — Total comprehensive income (loss) $ (118,173 ) $ (78,274 ) $ 38,490 Net loss per common share: Basic $ (2.65 ) $ (1.39 ) $ (0.10 ) Diluted $ (2.65 ) $ (1.39 ) $ (0.10 ) Weighted average common shares outstanding: Basic 44,054,830 41,651,366 41,651,366 (1) Amounts include related party transactions as follows: Revenues 413 154 112 Cost of revenues 269 — — General and administrative 31,833 31,272 31,605 Interest income 3,999 3,487 493 Acquisition and integration costs 39,735 — — (2) Amounts include stock-based compensation expense as follows: Cost of revenues 92 — — Selling and marketing 833 — — General and administrative 1,416 1,198 914 Product development 54 — — Expand TechTarget, Inc. d/b/a Informa TechTarget Consolidated Statements of Cash Flows (in thousands) For the Years Ended December 31, 2024 2023 2022 As Restated As Restated Operating activities: Net loss $ (116,863 ) $ (57,777 ) $ (4,285 ) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 1,614 895 620 Amortization 48,610 42,203 21,545 Provision for bad debt 996 (893 ) (656 ) Operating lease expense 2,165 2,732 1,567 Stock-based compensation 2,395 1,198 914 Fair value adjustment to debt 2,120 — — Other (90 ) — — Deferred tax provision (16,306 ) (13,500 ) (21,115 ) Impairment of long-lived assets 2,019 577 178 Impairment of goodwill 66,235 139,645 — Gain (loss) on disposal of long-lived assets — 2 (51 ) Gain (loss) on disposal of intangibles (135 ) — — Gain (loss) on disposal of property, plant and equipment 28 — 40 Contingent consideration settlement (1,020 ) — — Remeasurement of contingent consideration (22,436 ) (123,944 ) 8,000 Net foreign exchange (gain)/loss (5,235 ) 1,059 28 Changes in operating assets and liabilities (net of the impact of acquisitions): Accounts receivable (2,817 ) 7,533 209 Prepaid expenses and other current and non-current assets (6,576 ) 2,296 (3,560 ) Related party receivables 336 (2,248 ) (148 ) Accounts payable (2,648 ) (3,334 ) 2,652 Income taxes payable 7,949 3,122 1,767 Accrued expenses and other current liabilities 4,760 (1,215 ) (6,728 ) Accrued compensation expenses 2,100 — — Operating lease liabilities with right of use (3,183 ) (2,709 ) (1,699 ) Contract liabilities 1,529 (8,366 ) (3,464 ) Other liabilities (1,400 ) 219 2,671 Related party payables (29,001 ) — 29,575 Net cash provided by (used in) operating activities (64,854 ) (12,505 ) 28,060 Investing activities: Purchases of property and equipment, and other capitalized assets (420 ) (2,589 ) (413 ) Purchases of intangible assets (6,339 ) (6,771 ) (2,951 ) Purchase of investments (289 ) — — Acquisitions of business, net of acquired cash (72,315 ) (47,830 ) (351,333 ) Net cash used in investing activities (79,363 ) (57,190 ) (354,697 ) Financing activities: Cash pool arrangements with Parent 23,950 43,749 (9,949 ) Contingent consideration settlement (3,980 ) — (2,760 ) Repayment of debt — — (42,590 ) Repayment of loans (213 ) — — Capital contribution from Parent 351,574 — — Net transfers from Parent 38,302 29,679 136,114 Proceeds from loans issued by Parent — — 250,213 Repayment of loans issued by Parent — — (713 ) Net cash provided by financing activities 409,633 73,428 330,315 Effect of exchange rate changes on cash and cash equivalents (222 ) (86 ) (202 ) Net increase in cash and cash equivalents 265,194 3,647 3,476 Cash and cash equivalents at beginning of year 10,789 7,142 3,666 Cash and cash equivalents at end of year $ 275,983 $ 10,789 $ 7,142 Supplemental disclosure of cash flow information: Cash paid for taxes by Parent $ 1,633 $ 3,039 $ 4,293 Cash paid for interest on related party loans $ 19,008 $ 25,194 $ 80 Schedule of non-cash investing and financing activities: Operating right-of-use assets obtained in exchange for new operating lease liabilities $ 226 $ 1,295 $ 423 Intangible asset purchases included in accrued expenses and other current liabilities $ 191 $ 78 $ 267 Debt capitalization through net parent investment $ 250,000 $ — $ — Loans capitalized through net parent investment $ 59,689 $ — $ — Capitalization of short-term debt $ 474,943 $ — $ — Common stock issued in connection with the acquisitions of business $ 592,707 $ — $ — $ 9,772 $ — $ — Expand TechTarget, Inc. d/b/a Informa TechTarget Combined Company Consolidated Statements of Operations (in thousands) Year Ended (Unaudited) Revenues $ 490,391 Cost of revenues (201,236 ) Gross profit 289,155 Operating expenses: Selling and marketing 155,018 General and administrative 111,981 Product development 22,253 Depreciation 2,661 Amortization, excluding amortization of $19,867 included in Cost of revenues 82,811 Impairment of goodwill 66,235 Impairment of long-lived assets 2,019 Acquisition and integration costs 42,187 Remeasurement of contingent consideration (22,436) Total operating expenses 462,769 Operating loss (173,573 ) Interest expense (2,299) Interest income 18,027 Interest on related party loans (17,740) Other income (expense), net 3,390 Loss before income tax benefit (172,194 ) Income tax benefit 6,199 Net loss $ (165,996 ) Note: The Combined Company Consolidated Statement of Operations presents Informa TechTarget's results of operations for the year ended December 31, 2024 as if the acquisition of Former TechTarget had occurred on January 1, 2023 and is not necessarily indicative of Informa TechTarget's operating results that may have actually occurred had the acquisition of Former TechTarget been completed on January 1, 2023. Expand TechTarget, Inc. d/b/a Informa TechTarget Reconciliation of Combined Company Net Income/(Loss) to Combined Company Adjusted EBITDA and Combined Company Net Income/ (Loss) Margin to Combined Company Adjusted EBITDA Margin (in thousands) Year Ended December 31, 2024 (Unaudited) Combined Company Net income/(loss) $ (165,996 ) Interest expense, net 2,011 Provision for income taxes (6,199 ) Depreciation and amortization 105,339 Combined Company EBITDA (64,845 ) Stock-based compensation expense 58,472 Impairment of goodwill 66,235 Impairment of long-lived assets 2,019 Remeasurement of contingent consideration (22,436 ) Acquisition and integration costs 42,187 Combined Company Adjusted EBITDA 81,632 Net income/(loss) margin (34 )% Combined Company Adjusted EBITDA margin 17 % Expand
