Trulieve Q3 revenue $284M, gross margin 61%; $48M campaign spend drives net loss $60M

Trulieve Cannabis Corp.

2024-Q3 EPS reported -$0.52 revenue$885,345,000

Revenue $284M (+3% YoY); gross margin 61% vs 52% in Q3 2023; adjusted EBITDA $96M (34% revenue), up 24% YoY.
Net loss $60M; adjusted net loss $12M after excluding $48M in Florida adult-use campaign support and other non-recurring items.
Cash flow from operations $30M; free cash flow -$7M impacted by $48M campaign support; cash and short-term investments $319M.
Launched adult-use sales at 3 Ohio locations; opened 15 new dispensaries in FL and PA; 30% of retail locations now outside Florida.

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