Finance

Deeper Dive into Florida Cannabis Firm Trulieve – Grows Revenue 21% – Expands to MA and CA

By November 21, 2018 No Comments
Tallahassee, FL-based Trulieve Cannabis Corp. (CSE: TRUL) today announced its earnings report for Q3, ending September 30, 2018. The highlight was that revenue grew 21% to US$28 million.
Trulieve is a vertically integrated “seed-to-sale” company, the first and largest fully-licensed medical cannabis company in Florida. It cultivates products in-house, and distributes to Trulieve-branded dispensaries in Florida, as well as directly to patients via home delivery.
The top three highlights for Trulieve in Q3 were that:
-it grew revenue from US$23.3 million in Q2 2018 to $28.3 million in Q3 2018, up 21%
-it grew adjusted EBITDA from $11.7 million in Q2 2018 to $12.6 million in Q3 2018
-and it began trading on the Canadian Securities Exchange
After Q3 ended, early in November, Trulieve agreed to buy 100% of Life Essence, Inc. and 100% of Leef Industries, LLC., based in Massachusetts and California respectively. These are Trulieve first moves outside Florida.
“We…are well-positioned to continue to be the dominant leader in Florida while establishing our footprint in the Massachusetts and California. Looking ahead, we remain focused on scalable growth, including multi-state operational expansion,” said Kim Rivers, CEO of Trulieve.
The Company hosted a conference call Monday, November 19, 2018. An archived replay of the webcast will be available for 90 days.
Source Trulieve press release

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