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CRLBF on OTC

Cresco Labs Inc.

Cresco Labs Inc. is a Canadian medicinal chemicals and botanical products company based in Chicago.1 Its shares trade on OTC under the symbol CRLBF.1

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Last updated Oct 21, 2026.

Overview

$655.8MRevenue, fiscal 20252
-$135.4MNet income, fiscal 20252

Compare with Ascend Wellness Holdings, Inc., Tilray or USANA Health Sciences, or pick any stock.

  • TickerCRLBF on OTC1
  • IndustryMedicinal Chemicals & Botanical Products1
  • HeadquartersChicago, Illinois1
  • Incorporated inBritish Columbia, Canada3
  • Business address600 W. Fulton Street, Suite 800, Chicago, Il 606613
  • Filer category, Emerging growth company3
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

49.5%Gross margin2
-4.3%Operating margin2
-20.6%Net margin2
-9.5%Revenue growth, 20252
-39.8%Return on equity2
1.23×Debt to equity2
$37.8MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Dispensary brought in 66% of the revenue Cresco Labs Inc. broke down this way in fiscal 2025.

  1. Dispensary$433.1M266%down 8% from 2024
  2. Wholesale$222.8M234%down 12% from 2024
Business segments by year
Business segments20242025
Dispensary$471.8M$433.1M
Wholesale$252.6M$222.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue51¢$331.3M
  • Selling, general and admin38¢$247.5M
  • Other costs5¢$32.5M
  • Income tax7¢$44.6M

Out of $655.8M in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending48¢$35.1M
  • Kept or used elsewhere52¢$37.8M

Out of $72.9M of cash from operations.2

Financial statements

Revenue456782$655.8M in 2025+410% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $128.5M$128.5M20192020: $476.3M$476.3M2020+271%2021: $821.7M$821.7M2021+73%2022: $842.7M$842.7M2022+3%2023: $770.9M$770.9M2023−9%2024: $724.3M$724.3M2024−6%2025: $655.8M$655.8M2025−9%
Gross profit456782$324.6M in 2025+611% since 2019
0$200.0M$400.0M$600.0M2019: $45.6M$45.6M20192020: $206.7M$206.7M2020+353%2021: $406.3M$406.3M2021+97%2022: $407.0M$407.0M2022+0%2023: $362.4M$362.4M2023−11%2024: $364.5M$364.5M2024+1%2025: $324.6M$324.6M2025−11%
Operating income456782-$28.0M in 2025−18% since 2019
-$300.0M-$200.0M-$100.0M0$100.0M$200.0M2019: -$34.3M-$34.3M20192020: -$23.5M-$23.5M2020−32%2021: -$217.4M-$217.4M2021+826%2022: -$84.3M-$84.3M2022−61%2023: -$87.8M-$87.8M2023+4%2024: $107.3M$107.3M20242025: -$28.0M-$28.0M2025
Net income456782-$135.4M in 2025+107% since 2019
-$300.0M-$200.0M-$100.0M02019: -$65.3M-$65.3M20192020: -$92.8M-$92.8M2020+42%2021: -$296.8M-$296.8M2021+220%2022: -$215.8M-$215.8M2022−27%2023: -$175.5M-$175.5M2023−19%2024: -$74.4M-$74.4M2024−58%2025: -$135.4M-$135.4M2025+82%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-12-312024-12-31
Revenues, net$655.8M$724.3M
Cost of goods sold$331.3M$359.9M
Gross profit$324.6M$364.5M
Selling, general, and administrative$247.5M$254.8M
Impairment loss$105.1M$2.3M
Total operating expenses$352.6M$257.2M
(Loss) income from operations-$28.0M$107.3M
Interest expense, net-$56.3M-$54.6M
Other expense, net-$11.2M-$63.3M
Total other expense, net-$67.4M-$117.9M
Loss before income taxes-$95.4M-$10.6M
Income tax expense-$44.6M-$49.9M
Net (loss) income attributable to non-controlling interests, net of tax-$4.6M$13.9M
Net loss attributable to Cresco Labs Inc.-$135.4M-$74.4M
Basic loss per share (in USD per share)-$0.38-$0.22
Diluted loss per share (in USD per share)-$0.38-$0.22
Basic weighted-average shares outstanding (in shares)355.0M shares345.5M shares
Weighted Average Number of Shares Outstanding, Diluted355.0M shares345.5M shares
Net loss-$140.0M-$60.5M
Foreign currency translation differences, net of tax$601.0K-$1.1M
Total comprehensive loss for the period-$139.4M-$61.6M
Comprehensive (loss) income attributable to non-controlling interests, net of tax-$4.6M$13.9M
Total comprehensive loss attributable to Cresco Labs Inc.-$134.8M-$75.5M

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Corporate structure

Cresco Labs Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Cresco Labs Inc.

  • Nomura Holdings Filed SCHEDULE 13G/A on Cresco Labs Inc., latest May 15, 2025 (3 filings since Feb 14, 2024)
  • EMINENCE CAPITAL, LP Filed SCHEDULE 13G on Cresco Labs Inc., latest Feb 14, 2025
  • Cowen Financial Products LLC Filed SC 13G/A on Cresco Labs Inc., latest Feb 2, 2024 (3 filings since Jan 20, 2022)
  • Charles Ian Bachtell Filed SC 13G on Cresco Labs Inc., latest Feb 14, 2022
  • Dominic Sergi Filed SC 13G on Cresco Labs Inc., latest Feb 14, 2022
  • Robert M. Sampson Filed SC 13G on Cresco Labs Inc., latest Feb 14, 2022
  • Cresco Labs Inc. Chicago, Illinois

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Cresco Labs Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$512.3M2 Dec 31, 2025$507.3M2 Dec 31, 2024+1.0%
Accumulated depreciation$185.1M2 Dec 31, 2025$162.4M2 Dec 31, 2024+14.0%
Property and equipment, net$327.2M2 Dec 31, 2025$344.8M2 Dec 31, 2024−5.1%
Finance-lease assets$12.9M2 Dec 31, 2025$14.8M2 Dec 31, 2024−12.6%
Operating-lease assets (leased space)$86.8M2 Dec 31, 2025$95.8M2 Dec 31, 2024−9.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$57.9M2 Dec 31, 2025$137.6M2 Dec 31, 2024−57.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$208.2M2 Dec 31, 2025$283.5M2 Dec 31, 2024−26.6%
Intangible assets, net (excluding goodwill)$275.3M2 Dec 31, 2025$294.0M2 Dec 31, 2024−6.3%
Accumulated amortization$28.6M2 Dec 31, 2025$41.8M2 Dec 31, 2024−31.6%
Finite-lived intangibles, net$12.8M2 Dec 31, 2025$18.3M8 Dec 31, 2024−30.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$98.7M2 Dec 31, 2025$83.3M2 Dec 31, 2024+18.4%
Work in process$42.6M2 Dec 31, 2025$33.8M2 Dec 31, 2024+25.9%

Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerAngie R. Demchenko named Dec 21, 20219
  • Executive Officer, DirectorCharles Bachtell named Dec 21, 20219
  • Executive OfficerDennis Olis named Dec 21, 20219
  • Executive OfficerGreg R. Butler named Dec 21, 20219
  • Executive OfficerJason R. Erkes named Dec 21, 20219
  • Executive OfficerJohn R. Schetz named Dec 21, 20219
  • Executive OfficerMo R. Dastagir named Dec 21, 20219
  • Executive OfficerTy R. Gent named Dec 21, 20219
  • DirectorCarol R. Vallone named Dec 21, 20219
  • DirectorGerry Corcoran named Dec 21, 20219
  • DirectorJohn R. Walter named Dec 21, 20219
  • DirectorMarc R. Lustig named Dec 21, 20219
  • DirectorMichele R. Roberts named Dec 21, 20219
  • DirectorRandy R. Podolsky named Dec 21, 20219
  • DirectorRob R. Sampson named Dec 21, 20219
  • DirectorSidney R. Dillard named Dec 21, 20219
  • DirectorTarik Brooks named Dec 21, 20219
  • DirectorTom Manning named Dec 21, 20219

Filings

72 filings to the SEC since October 2021: 5 annual reports, 16 large holders, 1 private raises, 50 other. The latest 20:

  1. Oct 13, 20266-K EDGAR
  2. Sep 30, 20266-K EDGAR
  3. Aug 6, 20266-K EDGAR
  4. May 8, 20266-K EDGAR
  5. Mar 6, 202640-F EDGAR
  6. Feb 2, 20266-K EDGAR
  7. Dec 11, 2025EFFECT EDGAR
  8. Nov 7, 20256-K EDGAR
  9. Oct 6, 2025F-X EDGAR
  10. Oct 6, 2025F-10 EDGAR
  11. Sep 22, 20256-K EDGAR
  12. Sep 18, 2025SC TO-I/A EDGAR
  13. Sep 17, 20256-K EDGAR
  14. Aug 20, 2025SC TO-I EDGAR
  15. Aug 20, 2025SC TO-C EDGAR
  16. Aug 15, 20256-K EDGAR
  17. Aug 7, 20256-K EDGAR
  18. Jun 13, 20256-K EDGAR
  19. May 30, 20256-K EDGAR
  20. May 15, 2025SCHEDULE 13G/A EDGAR

The 72 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$62.1M 2021–2021
Money received by yearMoney received by year, 2021–2021: $62.1M in all. Private raises (Form D) $62.1M.$0$20M$40M$60M$80M2021 · Private raises (Form D): $62.1M2021
Figures by year
YearPrivate raises (Form D)Total
2021$62.1M$62.1M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Dec 9, 2021Raised $62.1 million in a private offering of equity9 Form D: 76 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Albert D Mason Inc88,035$73.1K0.0%No change
Ancora Advisors LLC48,028$39.6K0.0%−12,141
Strategic Investment Solutions, Inc. /IL1,408$1.2K0.0%No change
Thompson Investment Management, Inc.725$6020.0%No change
MassMutual Private Wealth & Trust, FSB200$1660.0%No change
Sterling Capital Management LLC132$1100.0%New
Hantz Financial Services, Inc.9,509$80.0%+489

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Cresco Labs Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCresco Labs Inc.1
  • CIK0001832928
  • Employer ID (EIN)98-150536416
  • Filer status<br>emerging growth company an emerging growth company1
  • Incorporated inCanada16
  • Fiscal year endsDecember 311
  • Industry code (SIC)2833 Medicinal Chemicals & Botanical Products1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address600 W. Fulton Street, Suite 800, Chicago, IL 606611
  • Phone(312) 929-09931
  • Shares outstanding158,940,757 Special Subordinate Voting Shares shares; 343,232,815 Subordinate Voting Shares shares; 81,492 Proportionate Voting Shares shares; 500,000 Super Voting Shares MVS shares as of Dec 31, 202516
  • On EDGAR sinceJan 13, 20211
  • Filings92 in all: 6-K (48), SC 13G (9), 40-F (6), SC 13G/A (4), F-10 (3), F-X (3), CB/A (2), S-8 (2)1
    All 22 form types

    SC 13D (2), 40-F/A (1), 40FR12G (1), CB (1), CORRESP (1), D (1), EFFECT (1), F-10/A (1), SC TO-C (1), SC TO-I (1), SC TO-I/A (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (40-F) Mar 6, 2026

Sources

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