Trulieve Q2 revenue $282M, net loss $404M on goodwill impairment; exits CA/MA

Trulieve Cannabis Corp.

2023-Q2 EPS reported -$1.98 revenue$567,009,000

Revenue $282M (96% retail); GAAP gross margin 50%; SG&A down $4M sequentially to $96M.
Net loss $404M from goodwill impairment (triggered by stock price); adjusted net loss $15M.
Adjusted EBITDA $79M (28% of revenue); cash $160M; cash from ops excl. tax payments $98M YTD.
Sold 11.6M branded units (+9% seq); MD traffic up 200% in July with adult-use launch.
Exited CA retail, winding down MA operations; inventory reduction generated $24M cash YTD.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Trulieve Cannabis Corp. reported for the quarter ended June 30, 2023 results: revenue Revenue of $282 million, net income Reported net loss of $404 million.

Period: for the quarter ended June 30, 2023
Revenue: Revenue of $282 million
Net income: Reported net loss of $404 million
Result: reported results

Exact text from the filing

Generally Accepted Accounting Principles unless otherwise indicated. Numbers may not sum perfectly due to rounding. Q2 2023 Financial and Operational Highlights* • Revenue of $282 million, with 96% of revenue from retail sales. Excluding deferred revenue, retail revenue increased by $3 million sequentially driven by increased traffic and volume partly offset by

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Source: SEC EDGAR

accession 0001193125-23-206803

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