Quarterly ResultMay 7, 2026, 06:26 AM
Trulieve Q1 Revenue $287M, Net Income $2M; Medical Marijuana Rescheduled
AI Summary
Trulieve Cannabis Corp. reported profitable first-quarter 2026 results, achieving $287 million in revenue and a positive net income of $2 million. The company also posted an adjusted EBITDA of $100 million and generated strong cash flow from operations. A significant development is the reclassification of medical marijuana to Schedule III, which management views as a major opportunity for new growth.
Key Highlights
- Q1 revenue was $287 million, with 92% from retail sales.
- GAAP gross margin reached 59%, with $170 million gross profit.
- Reported positive net income of $2 million for the quarter.
- Adjusted EBITDA was $100 million, representing 35% of revenue.
- Generated $56 million cash flow from operations and $42 million free cash flow.
- Cash balance at quarter end was $353 million.
- Medical marijuana was reclassified to Schedule III, enabling DEA registration applications.
- Company operates 240 retail dispensaries and over 4 million sq ft of cultivation.