04:31 PM EST, 03/03/2025 (MT Newswires) -- Curaleaf ( CURLF ) said Monday it swung to a profit in the fourth quarter even as revenue declined.

The cannabis retailer said it earned US$12.4 million, or US$0.02 per share, in the period, compared with a loss of US$5 million, or US$0.01, a year earlier.

Revenue fell to US$331.1 million from US$345.3 million in the year-ago quarter.

"Over the past two quarters, my primary objective has been to amplify our strengths, address key challenges, and stabilize the business. Having successfully achieved this, we are now forging ahead with our 'Return to our ROOTS' initiative-an ambitious strategy centered on driving organic growth, optimizing margins and cash flow, and reducing debt," Chief Executive Boris Jordan said.

The company finished the fourth quarter with $107 million in cash and generated $163 million in operating cash flow and $70 million in free cash flow for the year, he added.

Curaleaf ( CURLF ) shares closed down $0.18, or 9.3%, to $1.75 on the Toronto Stock Exchange.