Cresco Labs' lower tax expense narrows net loss in first nine months of 2026
Cresco Labs reported a net loss of $16.18 million for the nine months ended September 30, 2026, down 68.3% from a year earlier, primarily reflecting lower tax expense. Third-quarter revenue rose 4.8% to $172.78 million, while adjusted EBITDA fell 12.3% to $34.9 million.
1. Third-quarter results
Cresco Labs linked third-quarter 2026 revenue of $172.78 million, up 4.8%, to acquisitions in Pennsylvania and expansion in Ohio. Gross margin fell to 46% from 48.1%, reflecting margin compression in higher-margin states. Adjusted EBITDA declined 12.3% to $34.9 million, primarily reflecting higher operating expenses, including salaries and office costs.
2. Net loss narrowed
Third-quarter net loss narrowed to $14.53 million from $21.97 million, primarily because the prior-year debt-extinguishment loss did not recur. For the nine months ended September 30, 2026, net loss narrowed 68.3% to $16.18 million, primarily reflecting lower tax expense.
