Trulieve Cannabis Q4 Net Loss Increased By 32%

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a constituent in the munKNEE American Cannabis MSO Stocks Index, announced its results for the fourth quarter ended December 31, 2023, last week, as follows:

Q4 2023 Financial Highlights

(The information below compares Q4 2023 with Q3 2023 and all figures are in U.S. dollars.)

• Revenue: UP 4% to $287M
• Gross Profit: UP 8% to $154M
  • Gross Profit Margin: UP to 54% from 52%
• SG&A Expenses: UP 2% to $96M
• Net Income (Loss): Increased 32% to $(33)M
  • Adj. Net Income (Loss): Increased 55% to $(23)M
• Adj. EBITDA: UP 13% to $88M
  • Adj. EBITDA Margin: UP to 31% from 28%
• Cash on Hand: UP 7.3% to $208M

Q4 Operational Highlights

• opened 4 retail outlets for a total of 193 nationwide of which 68% are in Florida
• have over 4 million square feet of cultivation and processing capacity

Management Commentary

Kim Rivers, Trulieve CEO, said: 

• "...Fourth quarter momentum was underpinned by improved consumer trends. We entered 2024 in a position of significant strength just as the outlook for industry growth and reform brightened. With strong cash generation and a clearly defined strategy, Trulieve is best positioned for the coming wave of meaningful growth catalysts."

Stock Performance

Trulieve's stock price was DOWN 14.3% in Q4 but was UP 85% in the ensuing 2 months and remains constant since then.

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