Cresco Labs Inc. (CSE: CL) reported third quarter 2026 financial results on November 6, 2026, delivering revenue of $172.8 million and operating cash flow of $26.1 million. The Chicago-based multi-state cannabis operator, which markets brands including Cresco, High Supply, FloraCal, and Good News while operating Sunnyside dispensaries nationally, also disclosed that shareholders recently approved three special resolutions with over 94% support. The results reflect year-over-year revenue growth and continued positive cash generation from the company's cultivation, production, and branded product distribution operations.

Key Points

  • Cresco Labs Inc. (CSE: CL, OTCQX: CRLBF, FSE: 6CQ) released Q3 2026 results on November 6, 2026
  • Third quarter revenue of $172.8 million, with Adjusted EBITDA of $34.9 million and an Adjusted EBITDA margin of 20.2%
  • Operating cash flow of $26.1 million; free cash flow of $21.2 million; net loss of $14.5 million
  • Investors may be watching the company's balance sheet, which showed $75.8 million in cash and $454 million in long-term notes and loans payable as of September 30, 2026

Cresco Labs Q3 2026 Revenue and Profitability Breakdown

Cresco Labs reported net revenues of $172.8 million for the three months ended September 30, 2026, compared with $164.9 million in the same quarter of 2025. Gross profit was $79.5 million, representing a gross profit margin of 46.0%. On an adjusted basis, gross profit reached $80.9 million, with an Adjusted gross profit margin of 46.8%. SG&A expenses totalled $57.7 million, or 33.4% of revenue, while Adjusted SG&A came in at $54.2 million, or 31.3%, with the difference attributable to one-time and non-recurring costs associated with mergers and acquisitions, uplisting preparedness, and federal reform activity.

Cash Generation and Balance Sheet Position at Quarter End

The company generated $26.1 million in operating cash flow during the quarter, converting over 60% of Adjusted EBITDA into free cash flow of $21.2 million, as stated by CEO Charlie Bachtell in the release. As of September 30, 2026, cash, cash equivalents, and restricted cash stood at $75.8 million, while long-term notes and loans payable totalled $454 million. Total assets were $1.253 billion. The company completed an acquisition and ramped up operations in a new state during the quarter, contributing to investing cash outflows of $43.4 million.

Shareholder Resolutions and Corporate Structure Simplification

Cresco Labs disclosed that shareholders approved three special resolutions with over 94% support following the quarter's close. According to the release, these resolutions are intended to simplify the company's corporate structure and align Cresco with the U.S. investor base. CEO Bachtell noted in the release that the company does not build its plan around reform timelines, stating the business stands on its own merits. Total shares on a fully converted basis to Subordinate Voting Shares were 508,217,728 as of September 30, 2026.