Trulieve Q3 Revenue Improves 64% YoY To $224M, Reports 15th Consecutive Quarter Of Profitability

Trulieve Corp. (CSE: TRUL) (OTCQX: TCNNF) reported its third-quarter financial results Monday with net revenue of $224.1 million, up by 64% from the same period in 2020.  

Q3 Financial Highlights

  • Gross profit of $153.9 million and gross margin of 68.7% compared to gross profit of $102.2 million and gross margin of 75.0% in the third quarter 2020. 
  • Net income of $18.6 million, impacted by $16.4 million of one-time compensation and transaction costs primarily associated with the Harvest acquisition. 
  • Adjusted EBITDA of $98.0 million, or 43.7% of revenue
  • Trulieve and Harvest combined third-quarter revenue of approximately $316 million, net loss of approximately $9.8 million and adjusted EBITDA of approximately $121 million.
  • Cash of $213.6 million as of September 30, …

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