---
schema_version: "secwatch.filing_event.v1"
accession: "0001754195-26-000017"
form_type: "8-K"
ticker: "TCNNF"
cik: "0001754195"
company_name: "Trulieve Cannabis Corp."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:42:08.150441+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001754195-26-000017
- form_type: 8-K
- ticker: TCNNF
- cik: 0001754195
- company_name: Trulieve Cannabis Corp.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1754195/000175419526000017/0001754195-26-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1754195/000175419526000017/tcnnf-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001754195-26-000017
- JSON: https://secwatch.observer/filing/0001754195-26-000017.json
- Plain text: https://secwatch.observer/filing/0001754195-26-000017.txt

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