For further details on the variable interest entities consolidated within the Consolidated Financial Statements, see Note 1 — Operations of the Company, Note 2 — Basis of presentation and consolidation and Note 3 — Significant accounting policies. Because cannabis remains a Schedule I controlled substance for U.S. Federal purposes, the assets of the Company’s variable interest entities can typically be used only to settle obligations of the variable interest entities, except for certain grandfathered obligations, such as the Company’s Senior Secured Notes – 2026. In addition, the creditors of Curaleaf, Inc. do not have recourse to the general credit of the Company.


	As Revised(2)(3)
	December 31,
	2025		2024
Included in Consolidated Balance Sheets:
Cash	$	77,119	$	78,238
Accounts receivable	47,701		51,624
Inventory	195,184		198,203
Other current assets(3)	37,369		40,513
Total current assets(3)	357,373		368,578
Property, plant, and equipment , net	474,338		507,484
Right-of-use assets	201,434		216,404
Intangible assets, net and goodwill	1,343,581		1,422,480
Other long-term assets	15,454		33,555
Total assets	$	2,392,180	$	2,548,501

Accounts payable	$	57,622	$	68,872
Accrued expenses	88,060		85,105
Income tax payable(2)(3)	14,218		22,107
Short-term debt	583		83,800
Other current liabilities	48,595		76,118
Total current liabilities	209,078		336,002
Deferred tax liability(2)(3)	163,433		191,964
Lease liabilities	239,223		253,598
Long-term financial obligation	202,901		201,687
Long-term debt(1)(2)(3)	449,168		419,073
Uncertain tax position(2)(3)	531,508		392,188
Other long-term liabilities	1,114		3,079
Total liabilities	$	1,796,425	$	1,797,591
Equity attributable to Curaleaf Holdings, Inc.	$	595,755	$	750,910
(1) In connection with the issuance of the Senior Secured Notes – 2026, the Company entered into an intercompany loan agreement with Curaleaf, Inc. The intercompany loan is reflected herein and eliminated upon consolidation.
(2) The consolidated financial statements as of and for the year ended December 31, 2025 accurately reflect the correct accounting treatment of the Company's variable interest entities ("VIEs"). During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the VIE information as of December 31, 2025 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which (i) decreased income tax payable and total current liabilities by $287.6 million; (ii) increased deferred tax liabilities by $3.9 million, long-term debt by $1.2 million and uncertain tax positions by $271.9 million; (iii) resulted in a net decrease in total liabilities of $10.6 million; and (iv) increased equity attributable to Curaleaf Holdings, Inc. by $10.6 million.
(3) The consolidated financial statements as of and for the year ended December 31, 2024 accurately reflect the correct accounting treatment of the Company's variable interest entities ("VIEs"). During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the VIE information as of December 31, 2024 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which (i) decreased income tax payable and total current liabilities by $172.1 million, (ii) increased long-term debt by $24.7 million; (iii) increased uncertain tax positions by $150.3 million; (iv) resulted in a net increase in total liabilities of $2.9 million; and (v) decreased equity attributable to Curaleaf Holdings, Inc. by $2.9 million.


	As Revised(1)(2)(3)
	Years Ended December 31,
	2025		2024		2023
Included in Consolidated Statements of Operations:
Revenues, net	$	1,095,657	$	1,228,749	$	1,272,443
Net loss attributable to Curaleaf Holdings, Inc.(1)(2)(3)	(204,268)		(192,950)		(222,006)
(1) The consolidated financial statements for the year ended December 31, 2025 accurately reflect the correct accounting treatment of the Company's VIEs. During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the comparative VIE information for the year ended December 31, 2025 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which decreased net income attributable to Curaleaf Holdings, Inc. included in the VIE disclosure by $15.6 million.
(2) The consolidated financial statements for the year ended December 31, 2024 accurately reflect the correct accounting treatment of the Company's variable interest entities ("VIEs"). During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the comparative VIE information for the year ended December 31, 2024 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which decreased net income attributable to Curaleaf Holdings, Inc. included in the VIE disclosure by $2.9 million.
(3) The consolidated financial statements for the year ended December 31, 2023 accurately reflect the correct accounting treatment of the Company's variable interest entities ("VIEs"). During the preparation of the Company's expanded VIE disclosures, management identified a classification difference in the VIE tabular disclosure above resulting from the incorrect allocation of certain tax-related balances between VIE and non-VIE entities. Management concluded that the difference was not material to the Company's consolidated financial statements. Accordingly, the comparative VIE information for the year ended December 31, 2023 has been revised to reflect the corrected allocation of balances between VIE and non-VIE entities, which decreased net income attributable to Curaleaf Holdings, Inc. included in the VIE disclosure by $10.5 million.