https://www.trulieve.com Trulieve is a vertically integrated "seed-to-sale" company and is the first and largest fully licensed medial cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve also operates in California, Massachusetts and Connecticut. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and on the OTC Markets under the symbol TCNNF. https://www.trulieve.com/shop
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FOR IMMEDIATE RELEASE September 24, 2018 Trulieve Achieves Significant Growth in the Second Quarter of 2018 Quincy, Florida - Trulieve Cannabis Corp. (CSE: TRUL) (“Trulieve” or the “Company”) today announces its financial results for the three and six-month periods ended June 30, 2018.
The Company’s second quarter 2018 financial statements have been filed as part of its listing statement with the Canadian Securities Exchange (“CSE”). This news release is not in any way a substitute for reading those financial statements, including the notes to the financial statements. Unless otherwise stated, all currency is expressed in U.S. dollars.
Q2 2018 Highlights -
16 dispensaries in operation
83,000 active unique patients
Revenue grew from $15.2 million in Q1 2018 to $23.3 million in Q2 2018
EBITDA increased from $11.2 million in Q1 2018 to $14.3 million in Q2 2018
“The second quarter of 2018 demonstrated our ability to scale our business profitably with growth in dispensaries and patients served driving growth in revenue and EBITDA ,” said Kim Rivers, CEO of Trulieve. “This momentum is continuing in the current quarter and we expect strong results throughout 2018.”
Results of Operations (millions of U.S. dollars) 2017 2018 Q1 % change 2018 Q2 Total Revenue 19.8 15.2 53.3 23.3 Gross Margin2 8.7 10.7 61.7 17.3 Gross Margin % 43.9 69.3 6.9 74.1 Operating Expenses 8.3 4.6 30.4 6.0 Operating Expenses % 42.0 30.1 (14.3) 25.8 EBITDA1 10.1 11.2 27.7 14.3 1.
Contact: Kevin Darmody, Director of Investor Relations (850) 480-7955 IR@Trulieve.com 6749 Ben Bostic Road, Quincy, Florida 32351 http://www.trulieve.com
About Trulieve Trulieve is a vertically integrated “seed to sale” company and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery.
Outstanding Shares 32,224,527 07/19/2019
Restricted 13,220,081 07/19/2019
Unrestricted 19,004,446 07/19/2019
Trulieve Reports Another Quarter of Record Revenue TALLAHASSEE, FL, May 28, 2019 Execution of strategic plan results in continued growth, profitability and expansion of patient base TALLAHASSEE, FL, May 28, 2019 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (CSE: TRUL) today announced its financial results for the first quarter of 2019 ended March 31, 2019. Unless otherwise stated, all currency is expressed in U.S. dollars. First Quarter 2019 Financial & Operational Highlights
Float 29,224,527 07/19/2019
- Revenue grew 192% year over year, from $15.2 million in Q1 2018 to $44.5 million in Q1 2019
Adjusted EBITDA1,2 increased from $6.1 million in Q1 2018 to $19.0 million in Q1 2019
- Successfully settled with the Florida Department of Health, increasing the potential number of Trulieve dispensaries to 14 above the state cap
First medical marijuana licensee to complete a sale of smokable flower following approval from Floridalegislature
Establishment of six new dispensaries in Florida, bringing the total to 30 throughout the state
Received Minorities for Medical Marijuana's inaugural 2018 Diversity and Inclusion Champion of the Year Award in the State of Florida
Recent Highlights & Developments
- Increased number of U.S. states Trulieve operates in to four, following acquisition of Connecticut-based dispensary The Healing Corner
Received special permit to commence building our cultivation operations in Holyoke, Massachusetts
Signed agreement with Blue River™ Extracts & Terpenes to bring their products to the Florida market, recently launching their dry-sift rosin product
Filed final short form base shelf prospectus, valid for a 25-month period
"Our first quarter results reflect our ability to deliver on our strategic initiatives, translating into continued strong financial performance," said Kim Rivers, CEO of Trulieve. "In addition to delivering on strong financial results we also achieved many significant milestones in the first quarter of the year. Growth continued in Florida with the opening of four new dispensaries, completing the first sale of smokable flower in Florida, and settling with the Florida Department of Health, allowing us an additional 14 stores above the state cap. We are very pleased with the progress we experienced in the beginning of 2019 and are continuing to see that same momentum carry into the second quarter." Financial Results
(Guidance presented in
millions and % change)
2018 Actual 2019 2020
$102.8 $220 – $240 $380 – $400
Adjusted EBITDA1,2 https://web.tmxmoney.com/article.php?newsid=8986517863892747&qm_symbol=TRUL:CNX
$45.6 $95 – $105 $140 – $160