09:12 AM EDT, 05/30/2025 (MT Newswires) -- Cresco Labs ( CRLBF ) , an industry player in branded cannabis products with a portfolio of brands and the operator of Sunnyside dispensaries, on Friday said that its net loss widened and revenue fell in the first-quarter.

The company's first-quarter net loss grew 641% to about US$15.2 million, compared to a net loss of about US$2.1 million in the corresponding year-ago quarter.

First-quarter net revenue was around US$165.7 million, down 10% from around US$184.3 million in the year-ago quarter.

However, Cresco Labs ( CRLBF ) Chief Executive Officer and co-founder, Charlie Bachtell said that the company generated US$30 million in operating cash flow and ended the quarter with US$162 million in cash, stating that it is the highest balance in the past three years.

"In Q1, we delivered $166 million in revenue, reflecting our successful plan to reduce AR exposure by limiting sales to wholesale accounts with credit risk," added the CEO. "We generated $82 million in adjusted gross profit, and $36 million in Adjusted EBITDA. Most importantly, these actions translate into strong cash results. By staying disciplined and thoughtful in how we deploy capital, we're positioning Cresco Labs ( CRLBF ) to drive margin expansion, gain market share, and invest in sustainable growth when the right opportunities arise."