Trulieve reports record FY2022 revenue of $1.24B, Q4 net loss of $77M

Trulieve Cannabis Corp.

FY2022 revenue $1.24B (+32% YoY); Q4 revenue $302M, 2% sequential retail growth.
Q4 GAAP gross margin 50%; net loss $77M; adjusted net loss $35M; adjusted EBITDA $85M (28% revenue).
Q4 operating cash flow $55M, free cash flow $21M; inventory reduced $4M vs Q3 build of $32M.
Closed $90M in commercial loans at avg 7.5% interest; opened 5 new dispensaries; total 181 dispensaries.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Trulieve Cannabis Corp. reported fourth quarter and year ended December 31, 2022 results: revenue $302 million, net income net loss of $77 million.

Period: fourth quarter and year ended December 31, 2022
Revenue: $302 million
Net income: net loss of $77 million
Result: reported results

Exact text from the filing

Fourth Quarter and Record Full Year 2022 Results Exceeding $1.2 Billion in Revenue • Record revenue of $1.24 billion in 2022, up 32% year over year, and quarterly revenue of $302 million, with 2% retail revenue growth sequentially • Industry leading U.S. retail network of 181 dispensaries, up 14% from 2021, supported by over 4 million square feet of cultivation

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Source: SEC EDGAR

accession 0001193125-23-063707

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