Cooler Master's MasterHUB Wins Red Dot Award for Design Excellence
MasterHUB is a modular and expandable stream deck with hot-swappable components for effortless workflows.
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This recognition highlights Cooler Master's FreeForm 2.0 design philosophy, which empowers users to build personalized, modular systems that evolve with their needs. MasterHUB embodies this approach by offering a flexible foundation for streamers, editors, and creatives to shape their own workflows.
'MasterHUB was designed to grow with you,' said Matteo Stracciari, General Manager at Cooler Master. 'Whether you're mixing audio, editing video, or live streaming, the modular system adapts to your tools and style. Winning the Red Dot reinforces that great design is about more than looks, it's about listening to what creators need and responding with thoughtful solutions.'
MasterHUB has been widely praised for its thoughtful design and real-world utility. Reviewers have highlighted its modularity, ease of use, and ability to integrate seamlessly into a wide range of creative workflows, such as video editing and audio mixing to live streaming and everyday productivity.
Built on a magnetic base with pogo pins for easy reconfiguration, MasterHUB supports a growing ecosystem of modules: a customizable 15-key IPS display, five-point precision fader, dual-part scroll roller, and more. The included MasterHUB software helps users unify their apps and devices into one streamlined experience.
The Red Dot Award is one of the world's largest and most respected design competitions. Organized by Germany's Design Zentrum Nordrhein Westfalen, it honors products that combine creativity with usability, performance, and visual clarity.
For more on MasterHUB and Cooler Master's commitment to adaptive, user-centered design, visit www.coolermaster.com
About Cooler Master:
Established in 1992, Cooler Master is a performance PC component and peripherals brand with a track record for advancing the industry. From the world's first aluminum PC case to our pioneering thermal technologies, Cooler Master is committed to breaking technological boundaries and challenging the status quo. Our focus is to create a community for individuals who dare to stand out and embrace their inventive identity. We are a brand aiming to go above and beyond by creating cool products for awesome people to build in their own way. More information is available at www.coolermaster.com and on Instagram, Twitter, Discord and Facebook.
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In particular, statements concerning estimates related to future acquisitions, dispositions and capital expenditures, increase or reduction of vacancy rates, increase or decrease of rental rates and rental revenue, future income and profitability, timing of refinancing of debt and completion, timing and costs of renovations, increased or decreased funds from operations and cash flow, the Corporation's liquidity and financial capacity, improved rental conditions, future environmental impact the Corporation's goals and the steps it will take to achieve them the Corporation's anticipated funding sources to meet various operating and capital obligations and other factors and events described in this document should be viewed as forward-looking statements to the extent that they involve estimates thereof. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions of future events or performance (often, but not always, using such words or phrases as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Corporation's AIF, dated December 5, 2024 under the heading 'Risk Factors', that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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Cresco Labs Solid Q2 Performance and Debt Refinancing Strengthen Foundation for Long-Term Value Creation
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Second quarter Adjusted EBITDA 1 of $41 million and Adjusted EBITDA margin 1 of 25.0%. Retained the No. 1 share position in multiple billion dollar markets. 2 Management Commentary "In Q2, we delivered solid performance in line with guidance, maintained our market share in a highly competitive environment, and continued to drive cash flow through operational discipline. Crucially, we signed a commitment letter to refinance our debt with a new $325 million term loan. This milestone reinforces our balance sheet, preserves our equity value and creates financial flexibility for years to come. The improved structure and terms give us a stronger foundation to execute against both near-term priorities and long-term growth opportunities.' "The cannabis industry is entering a new phase, defined by consolidation and rationalization. We're seeing more opportunities for M&A in very productive states that will be incremental for Cresco. As previously stated, we're going to be opportunistic while staying patient and disciplined so we can invest in sustainable growth when the right opportunities arise. With our proven operating model, focused and productive footprint, and clean capital structure, we're built for this moment and are well-positioned to be a partner of choice as the industry consolidates.' Balance Sheet, Liquidity, and Other Financial Information As of June 30, 2025, current assets were $315 million, including cash and cash equivalents of $147 million. The Company had senior secured term loan debt, net of discount and issuance costs, of $354 million and a mortgage loan, net of discount and issuance costs of $18 million. Total shares on a fully converted basis to Subordinate Voting Shares were 483,444,948 as of June 30, 2025. 1 See "Non-GAAP Financial Measures" at the end of this press release for more information regarding the Company's use of non-GAAP financial measures. 2 According to Hoodie Analytics. Expand Conference Call and Webcast The Company will host a conference call and webcast to discuss its financial results on Thursday, August 7, 2025, at 8:30am Eastern Time (7:30am Central Time). The conference call may be accessed via webcast or by dialing 1-833-470-1428 (US Toll Free) or 1-404-975-4839 (US Local), providing access code 158138. Archived access to the webcast will be available for one year on Cresco Labs' investor website, here. Consolidated Financial Statements The financial information reported in this press release is based on unaudited management prepared financial statements for the quarter ended June 30, 2025. These financial statements have been prepared in accordance with U.S. GAAP. The Company expects to file its unaudited condensed interim consolidated financial statements for the quarter ended June 30, 2025, on SEDAR+ and EDGAR on or about August 7, 2025. Accordingly, such financial information may be subject to change. All financial information contained in this press release is qualified in its entirety with reference to such financial statements. While the Company does not expect there to be any material changes between the information contained in this press release and the consolidated financial statements it files on SEDAR+ and EDGAR, to the extent that the financial information contained in this press release is inconsistent with the information contained in the Company's financial statements, the financial information contained in this press release shall be deemed to be modified or superseded by the Company's filed financial statements. The making of a modifying or superseding statement shall not be deemed an admission, for any purposes, that the modified or superseded statement, when made, constituted a misrepresentation for purposes of applicable securities laws. Further, the reader should refer to the additional disclosures in the Company's audited financial statements for the year ended December 31, 2024, filed on SEDAR+ and EDGAR. Cresco Labs references certain non-GAAP financial measures throughout this press release, which may not be comparable to similar measures presented by other issuers. Please see the 'Non-GAAP Financial Measures' section below for more detailed information. Non-GAAP Financial Measures This release reports its financial results in accordance with U.S. GAAP and includes certain non-GAAP financial measures that do not have standardized definitions under U.S. GAAP. The non-GAAP measures include: Earnings before interest, taxes, depreciation, and amortization ('EBITDA'); Adjusted EBITDA; Adjusted EBITDA margin; Adjusted gross profit; Adjusted gross profit margin; Adjusted selling, general, and administrative expenses ('Adjusted SG&A'), Adjusted SG&A margin; and Free Cash Flow are non-GAAP financial measures and do not have standardized definitions under U.S. GAAP. The Company defines these non-GAAP financial measures as follows: EBITDA as net loss (income) before interest, taxes, depreciation, and amortization; Adjusted EBITDA as EBITDA less other (expense) income, net, fair value mark-up for acquired inventory, adjustments for acquisition and non-core costs, impairment and share-based compensation; Adjusted EBITDA Margin as Adjusted EBITDA divided by revenues, net; Adjusted gross profit as gross profit less fair value mark-up for acquired inventory and adjustments for acquisition and non-core costs; Adjusted gross profit margin as Adjusted gross profit divided by revenues, net; Adjusted SG&A as SG&A less adjustments for acquisition and non-core costs; Adjusted SG&A margin as Adjusted SG&A divided by revenues, net; and Free Cash Flow as Net cash provided by operating activities less purchases of property and equipment and proceeds from tenant improvement allowances. The Company has provided the non-GAAP financial measures, which are not calculated or presented in accordance with U.S. GAAP, as supplemental information and in addition to the financial measures that are calculated and presented in accordance with U.S. GAAP and may not be comparable to similar measures presented by other issuers. These supplemental non-GAAP financial measures are presented because management has evaluated the financial results both including and excluding the adjusted items and believe that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. These supplemental non-GAAP financial measures should not be considered superior to, as a substitute for or as an alternative to, and should only be considered in conjunction with, the U.S. GAAP financial measures presented herein. Accordingly, the Company has included below reconciliations of the supplemental non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP. 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 or following the Company on Facebook, X or LinkedIn. Forward-Looking Statements This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). Such forward-looking statements are not representative of historical facts or information or current condition but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential,' or 'continue,' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under 'Risk Factors' in the Company's Annual Information Form for the year ended December 31, 2024, filed on SEDAR+ and EDGAR, other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs' shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event, or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise. Cresco Labs Inc. Unaudited Reconciliation of Gross Profit to Adjusted Gross Profit (Non-GAAP) For the Three Months Ended June 30, 2025, March 31, 2025, and June 30, 2024 For the Three Months Ended ($ in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Revenue, net $ 163,624 $ 165,757 $ 184,356 Cost of goods sold 1 80,368 87,126 89,578 Gross profit $ 83,256 $ 78,631 $ 94,778 Cost of goods sold adjustments for acquisition and other non-core costs (508 ) 3,144 1,881 Adjusted gross profit (Non-GAAP) $ 82,748 $ 81,775 $ 96,659 Adjusted gross profit % (Non-GAAP) 50.6 % 49.3 % 52.4 % 1 Production (cultivation, manufacturing, and processing) costs related to products sold during the period. Expand Cresco Labs Inc. Summarized Consolidated Statements of Financial Position As of June 30, 2025 and December 31, 2024 ($ in thousands) June 30, 2025 December 31, 2024 (unaudited) Cash and cash equivalents $ 146,609 $ 137,564 Other current assets 167,996 156,693 Property and equipment, net 332,600 344,846 Intangible assets, net 289,268 293,994 Goodwill 283,484 283,484 Other non-current assets 127,802 138,774 Total assets $ 1,347,759 $ 1,355,355 Total current liabilities $ 101,324 $ 94,338 Total non-current liabilities 885,523 872,841 Total shareholders' equity 360,912 388,176 Total liabilities and shareholders' equity $ 1,347,759 $ 1,355,355 Expand Cresco Labs Inc. Unaudited Reconciliation of SG&A to Adjusted SG&A (Non-GAAP) For the Three Months Ended June 30, 2025, March 31, 2025, and June 30, 2024 For the Three Months Ended ($ in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Selling, general, and administrative $ 51,398 $ 57,811 $ 54,355 Adjustments for acquisition and other non-core costs 1,864 4,841 1,633 Adjusted SG&A (Non-GAAP) $ 49,534 $ 52,970 $ 52,722 Adjusted SG&A % (Non-GAAP) 30.3 % 32.0 % 28.6 % Expand Cresco Labs Inc. Unaudited Reconciliation of Net Loss to Adjusted EBITDA (Non-GAAP) For the Three Months Ended June 30, 2025, March 31, 2025, and June 30, 2024 For the Three Months Ended ($ in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Net loss 1 $ (13,893 ) $ (15,234 ) $ (51,179 ) Depreciation and amortization 12,190 12,906 14,930 Interest expense, net 12,562 14,824 13,813 Income tax expense 16,636 14,316 10,238 EBITDA (Non-GAAP) $ 27,495 $ 26,812 $ (12,198 ) Other expense (income), net 836 (317 ) 59,508 Adjustments for acquisition and other non-core costs 734 7,015 3,129 Impairment loss 9,265 — — Share-based compensation 2,546 2,723 3,471 Adjusted EBITDA (Non-GAAP) $ 40,876 $ 36,233 $ 53,910 Adjusted EBITDA % (Non-GAAP) 25.0 % 21.9 % 29.2 % 1 Net loss includes amounts attributable to non-controlling interests. Expand Cresco Labs Inc. Unaudited Reconciliation of Operating Cash Flow to Free Cash Flow (Non-GAAP) For the Three Months Ended June 30, 2025, March 31, 2025, and June 30, 2024 For the Three Months Ended ($ in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Net cash provided by operating activities $ 8,831 $ 30,463 $ 17,160 Purchases of property and equipment (13,124 ) (5,818 ) (6,434 ) Proceeds from tenant improvement allowances 451 50 106 Free Cash Flow (Non-GAAP) $ (3,842 ) $ 24,695 $ 10,832 Expand
