Trulieve’s Revenues Hit $938 Million In Full Fiscal YearApril 5, 2022
Florida cannabis powerhouse Trulieve reported results for the quarter ended December 31, in which revenue grew 36% sequentially to $305.3 million. The company commands an industry leading network of 162 retail locations and over 4 million square feet of cultivation and processing capacity. The quarter yielded an adjusted EBITDA of $100.9 million, an improvement of $20 million from the same period last year.
For the year, Trulieve reported revenue up 80% year-over-year to $938.4 million for calendar 2021. It logged gross profit of $566.1 million and a gross margin of 60.3%, along with adjusted net income of $123.4 million. Its adjusted EBITDA for the year was $384.6 million. The company closed seven acquisitions during the year including Harvest Health, which added 49 dispensaries along with other assets.
Trulieve operates in 11 states, with leading market positions in Arizona, Florida, and Pennsylvania. Most recently, the company expanded its partnership with the Connected brand, while forming new alliances with the El Blunto, Khalifa Kush, and Miami Mango labels.—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.