Trulieve Cannabis Corp. income statement
In fiscal 2025, Trulieve Cannabis Corp. reported revenue of $1.18bn, down 0.4% on the year before, operating income of $143m (a 12.1% margin) and net income of −$116m, or −$0.58 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 253 | 522 | 932 | 1,218 | 1,129 | 1,186 | 1,181 | 1,139 |
| Cost of revenue | 61 | 135 | 365 | 529 | 541 | 471 | 470 | 462 |
| Gross profit | 192 | 386 | 567 | 689 | 589 | 716 | 711 | 677 |
| Selling, general and administrative | — | — | — | — | 386 | 510 | 445 | 432 |
| Selling and marketing | 59 | 119 | 212 | 278 | — | — | — | — |
| General and administrative | 14 | 36 | 99 | 169 | — | — | — | — |
| Operating income | 113 | 218 | 204 | 50 | −222 | 98 | 143 | −277 |
| Interest expense | 9 | 20 | 29 | 73 | 82 | 62 | 63 | 57 |
| Income before tax | 104 | 157 | 176 | −19 | −285 | 43 | 91 | −326 |
| Income tax | 51 | 94 | 146 | 163 | 151 | 198 | 208 | 145 |
| Net income | 53 | 63 | 17 | −253 | −527 | −155 | −116 | −473 |
| Diluted EPS | $0.46 | $0.53 | $0.21 | −$0.95 | −$2.28 | −$0.79 | −$0.58 | −$2.45 |
| Diluted shares (average) | 115m | 118m | 147m | 188m | 189m | 190m | 191m | 193m |
| EBITDA | 118 | 231 | 250 | 167 | −112 | 211 | 261 | −163 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 284 | 301 | 298 | 302 | 288 | 293 | 287 | 271 |
| Cost of revenue | 111 | 114 | 115 | 119 | 118 | 118 | 117 | 109 |
| Gross profit | 173 | 187 | 183 | 183 | 170 | 175 | 170 | 162 |
| Selling, general and administrative | 149 | 158 | 119 | 101 | 99 | 126 | 105 | 102 |
| Operating income | 1 | 1 | 33 | 53 | 42 | 15 | 36 | −371 |
| Interest expense | 17 | 15 | 16 | 16 | 16 | 15 | 13 | 13 |
| Income before tax | −13 | −13 | 20 | 39 | 29 | 3 | 25 | −383 |
| Income tax | 47 | 48 | 52 | 55 | 53 | 48 | 22 | 22 |
| Net income | −62 | −57 | −33 | −14 | −27 | −43 | 2 | −406 |
| Diluted EPS | −$0.32 | −$0.27 | −$0.16 | — | — | — | — | — |
| EBITDA | 29 | 30 | 63 | 82 | 72 | 45 | 65 | −345 |
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