Cannabis Giant Trulieve Reports 55% YoY Improvement In Net Loss, Retail-Driven Revenue Of $288M

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced on Wednesday its financial results for the third quarter, reporting revenue of $288 million, with 94% of revenue from retail sales. That’s 1% year-over-year increase.

“Our 2025 strategic plan is delivering results, with demonstrable progress on reform, customers, distribution, and branded products,” Kim Rivers, Trulieve’s CEO, said. “Significant flexibility in our core business and strong cash generation continue to set us apart in a dynamic market.”

Other Q3 Financial Highlights

• Gross profit dropped 2% year-over-year to $170 million.
• Net loss improved by 55% year-over-year to $27 million.
• Adjusted EBITDA came in positive at $103 million, compared to an adjusted EBITDA gain of $96 million in the prior year’s period.
• Generated cash flow from operations of $77 million and free cash flow of $64 million.
• Cash at quarter end was $458 million.

In the meantime, the company recently announced the planned redemption of $368 million of senior secured notes due 2026.

Trulieve operates 232 retail dispensaries and more than four million square feet of cultivation and processing capacity in the United States.