Trulieve Unveils Flurry of New ProductsAugust 16, 2022
Florida cannabis powerhouse Trulieve has posted a revenue increase of 1% sequentially to $320.3 million for the three months through June. Revenue grew a much more impressive 49% compared to the same period last year. With operating expenses of $144.2 million and gross profit of $182.2 million, the company logged an adjusted EBITDA of $111 million.
In the three months under consideration, Trulieve opened six dispensaries: two in its home state of Florida along with others in Massachusetts, Pennsylvania, and West Virginia. It’s now present in 11 states, with 32% of retail locations outside Florida. It launched the brands Modern Flower, Muse, Roll One, and Sweet Talk in markets including Arizona, Florida, Maryland, Pennsylvania, and West Virginia and produced over 10 million finished goods units in the quarter, up 79% year over year. It’s also donating millions of dollars to the campaign to place recreational legalization on the ballot in Florida in 2024.—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.