v3.25.4
SHARE CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Issued and Outstanding Shares and Units
As of December 31, 2025 and 2024, issued and outstanding capital consisted of the following:
(shares in thousands)Redeemable
 Units
SVS1
PVS2
MVS
SSVS3
Beginning balance, January 1, 202496,699 320,757 18,950 500 2 
Stock options exercised— 5 — — — 
RSUs issued— 2,338 — — — 
Issuance of shares related to acquisitions— 1,422 — — — 
Cresco LLC redemptions(4,642)4,642 — — — 
PVS converted to SVS— 1,843 (1,843)— — 
Issuances related to employee taxes on certain share-based payment arrangements— 483 — — — 
Ending Balance, December 31, 202492,057331,49017,1075002
Stock options exercised— 8 — — 
RSU Issuance— 2,406 — — — 
Issuance of shares related to settlement of
acquisition contingent consideration		— 374 — — — 
Cresco LLC redemptions(6,758)6,758 — — — 
PVS converted to SVS— 830 (830)— — 
Issuances related to employee taxes on certain share-based payment arrangements— 784 — — — 
Issuance of shares for consulting services— 543 — — — 
Share Issuances— 40 21 
Ending Balance, December 31, 202585,299343,23316,2985002
1 SVS includes shares pending issuance or cancellation
2 PVS presented on an “as-converted” basis to SVS (1-to-200)
3 SSVS presented on an “as-converted” basis to SVS (1-to-0.00001)
(i)     Issuance of Shares - Acquisitions
During the nine months ended December 31, 2025 and 2024, the Company issued shares in conjunction with certain acquisitions as follows:

(in thousands)Acquisition dateSVS shares issuedEquity-based consideration
Year Ended December 31, 2025
Keystone1 - Contingent Consideration
April 24, 2024374 $750 
Year Ended December 31, 2024
KeystoneApril 24, 20241,422 $2,850 
1 Keystone Integrated Care, LLC (“Keystone”)
Schedule of Non-controlling Interest and Intercompany Eliminations
Interest expense, net consisted of the following for the years ended December 31, 2025 and 2024:
Year Ended December 31,
($ in thousands)20252024
Interest expense – notes and loans payable1
$(41,746)$(37,926)
Interest expense – financing activities1
(11,273)(11,549)
Accretion of debt discount and amortization of deferred financing fees1
(4,059)(4,855)
Interest expense – leases2
(2,930)(3,146)
Interest income3,748 2,922 
Other interest expense(20)(47)
Interest expense, net$(56,280)$(54,601)
1See Note 11 “Long-term Notes and Loans Payable, Net” for additional information on Interest expense – notes and loans payable, Interest expense – financing activities, and Accretion of debt discount and amortization of deferred financing fees.
2See Note 5 “Leases” for additional information on Interest expense – leases.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net
The effects of changes in the Company’s ownership interests in less than 100% owned subsidiaries during the years ended December 31, 2025 and 2024 were as follows:
Year Ended December 31,
($ in thousands)20252024
Net loss attributable to Cresco Labs Inc.$(135,408)$(74,438)
Changes in Cresco Labs Inc. equity due to redemptions of Cresco Labs, LLC units:
Share capital5,491 8,282 
Accumulated deficit(12,350)(12,512)
Total change from net loss attributable to Cresco Labs Inc. and change in ownership interest in Cresco Labs, LLC.
$
(142,267)
$
(78,668)