---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-038007"
form_type: "8-K"
ticker: "TCNNF"
cik: "0001754195"
company_name: "Trulieve Cannabis Corp."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:11:43.689999+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Trulieve Q3: $275M revenue, $93M operating cash flow, net loss $25M, cuts debt

## Summary
- Revenue $275M, GAAP gross margin 52%, net loss $25M, adj. net loss $15M.
- EBITDA $74M (27% revenue), adj. EBITDA $78M (28% revenue).
- Cash from ops $93M, free cash flow $87M in Q3; FY2023 outlook: at least $100M ops, $70M FCF.
- Reduced debt: bought $57M face of 2026 notes at 16.5% discount; redeemed $130M of 2024 notes, saving $20M interest.
- Opened 5 new dispensaries; Maryland traffic up 235% QoQ with adult-use launch.

## SEC filing metadata
- accession: 0001628280-23-038007
- form_type: 8-K
- ticker: TCNNF
- cik: 0001754195
- company_name: Trulieve Cannabis Corp.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1754195/000162828023038007/0001628280-23-038007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1754195/000162828023038007/tcnnf-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-038007
- JSON: https://secwatch.observer/filing/0001628280-23-038007.json
- Plain text: https://secwatch.observer/filing/0001628280-23-038007.txt

## Key facts
- Earnings Releases
  Trulieve Cannabis Corp. reported the quarter ended September 30, 2023 results: revenue $275 million, net income net loss of $25 million. Guidance raised.
  - Period: the quarter ended September 30, 2023
  - Revenue: $275 million
  - Net income: net loss of $25 million
  - Guidance: raised
  - Result: reported results
  source text: Generally Accepted Accounting Principles unless otherwise indicated. Numbers may not sum perfectly due to rounding. Q3 2023 Financial and Operational Highlights* • Revenue of $275 million, with 96% of revenue from retail sales. • Achieved GAAP gross margin of 52%, with gross profit of $143 million. • SG&A expenses lowered by $2 million sequentially to $94 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1754195/000162828023038007/0001628280-23-038007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.