secwatch.observer — SEC 8-K summary
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Issuer:     Trulieve Cannabis Corp. (TCNNF)
CIK:        0001754195
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001193125-23-206803
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1754195/000119312523206803/0001193125-23-206803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1754195/000119312523206803/d815319d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-206803

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