Trulieve Q1 2024 revenue $298M, up 4% sequentially; adjusted EBITDA $106M

Trulieve Cannabis Corp.

2024-Q1 EPS reported -$0.16 revenue$297,619,000

Revenue of $298M (+4% sequentially & YoY); 58% GAAP gross margin on $174M gross profit.
Net loss $23M improved 31% sequentially; adjusted net loss $10M; adjusted EBITDA $106M (36% of revenue).
Operating cash flow $139M, free cash flow $124M; cash $327M including $50M tax refunds from 280E challenge.
Opened 3 Florida dispensaries (Cocoa Beach, Palm Bay, Pinellas Park); 31% of retail locations outside Florida.
Progress on Smart and Safe Florida adult-use initiative and federal cannabis rescheduling to Schedule III.

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 the quarter ended March 31, 2024 results: revenue $298 million, net income net loss of $23 million.

Period: the quarter ended March 31, 2024
Revenue: $298 million
Net income: net loss of $23 million
Result: reported results

Exact text from the filing

--- tcnnf-2024xq1xexx991 Exhibit 99.1 Trulieve Reports First Quarter 2024 Results Demonstrating Core Business Strength and Cash Generation • First quarter performance of $298 million in revenue, up 4% sequentially, and 58% gross margin • Strong cash flow from operations of $139 million and free cash flow of $124 million* in Q1 2024 • Definitive progress made

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Source: SEC EDGAR

accession 0001628280-24-021918

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