Replies to post #11953 on Trulieve Cannabis Corp (TCNNF)

[thehumanchessmachine]

I can’t be happier with the company growth !!! Impressive!

[RangerPete]

Correction $193.8-million revenues.

[FUNMAN]

Read the details--->>>Trulieve Reports Record First Quarter 2021 Revenue of $193.8M, Net Income of $30.1M and Adjusted EBITDA of $90.8M

May 13, 2021 at 6:30 AM EDT

Read the release at this link to see all of the financial numbers and footnotes:

https://investors.trulieve.com/news-releases/news-release-details/trulieve-reports-record-first-quarter-2021-revenue-1938m-net

Achieved 13th consecutive quarter of profitability; Announces definitive agreement to acquire Harvest Health & Recreation Inc., one of the largest US cannabis acquisitions to date which would establish our southwest hub and expand national footprint

TALLAHASSEE, Fla., May 13, 2021 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, today announced its results for the quarter ended March 31, 2021. The Company became a U.S. reporting company effective February 4, 2021 and the consolidated financial statements are reported in accordance with U.S. Generally Accepted Accounting Principles (GAAP). All currency is expressed in U.S. dollars.

Q1 2021 Highlights

* Achieved record quarterly revenues of $193.8 million, a sequential increase of 15% over Q4 2020

* Generated net income of $30.1 million

* Delivered Adjusted EBITDA of $90.8 million

* Achieved gross profit of $135.3 million and gross margin of 70%

* Delivered $60.4 million in cash flows from operations

2021 Operational Highlights and Recent Events

Recently announced definitive agreement to acquire Harvest Health & Recreation Inc., the largest cannabis acquisition announced in the U.S. to date.

Harvest reported first quarter revenue of $88.8 million and Adjusted EBITDA of $26.9 million1

Reported first full quarter of operations in Pennsylvania and opened phase 1 of our new cultivation facility adding 45,000 square feet for a total of 80,000 square feet of cultivation

Well-positioned to become a first-mover, vertically-integrated operator in West Virginia through successful application wins and the recent acquisition of Mountaineer Holding

Expanded our Florida operations by eight stores and 116,000 square feet of cultivation, ending the quarter with 82 stores and over 2 million square feet of cultivation in Florida
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1

As reported May 10, 2021 on the Harvest Q1 2021 Earnings Press Release

"During Q1 we continued to execute on growth in Florida as well as our national hub expansions. Our record revenue and industry leading EBITDA margins demonstrate our continued focus on execution," stated Kim Rivers, Trulieve CEO. "The pending acquisition of Harvest will be transformative and will build on our profitability, expanding our runway for growth."

Rivers continued, "Our continued strength in our home state of Florida, as well as the build out of our northeast hub, with progress in Pennsylvania, Massachusetts and West Virginia, has generated momentum for an exciting remainder of the year. We expect many positive catalysts in the months ahead, which align well with the current political environment and heightened focus on cannabis in this country."

Financial Highlights

Read the release at this link to see all of the financial numbers and footnotes:

https://investors.trulieve.com/news-releases/news-release-details/trulieve-reports-record-first-quarter-2021-revenue-1938m-net