Trulieve reports FY2025 revenue $1.2B, 60% gross margin, record operating cash flow $273M

Trulieve Cannabis Corp.

2025-FY EPS reported -$0.58 revenue$1,181,180,000

Record FY2025 revenue $1.2B; 60% gross margin; adjusted EBITDA $427M (36% of revenue).
Record cash flow from operations $273M; free cash flow $229M; cash $256M at year-end.
Redeemed $368M of 2026 senior secured notes; closed $140M private placement of notes due 2030.
Grew to 233 dispensaries, 915K rewards members; sold 50.1M branded units (+5% YoY).
Net loss $116M; adjusted net loss $27M; conditional Texas Dispensing Organization license approved.

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