Cannabis Central: Trulieve Cannabis Corp. Reports Record Revenue & Profits In Q2
Trulieve Cannabis Corp. (CSE:TRUL; OTCQX:TCNNF) reported their Q2 results this past Wednesday revealing record revenue and adjusted EBITDA earnings.
Financial Highlights
- Revenue increased on a y-o-y basis by 250% and by 30%from the previous quarter to US$57.9M
- Gross Margin increased by 26% from the previous quarter
- Gross Margin % decreased from 67% to 65% in the previous quarter
- Operating Expenses increased by 24% from the previous quarter
- Adjusted EBITDA increased by 66.3% from the previous quarter
Recent Operational Highlights & Developments
- Obtained a listing on the OTCQX Best Market
- Increased patient growth in Florida by 19%
- Increased smokable flower sales by nearly 30%
- Opened 3 additional dispensaries in Florida for a current total of 29
- Acquired The Healing Corner, a Connecticut-based medical cannabis dispensary
Financial Guidance
- Re-affirmed guidance for 2019 and 2020 as stated in their Q1 financial report as follows:
(Guidance presented in
|
2018 Actual |
2019 |
2020 |
Revenue (USD) |
$102.8 |
$220 – $240 |
$380 – $400 |
Adjusted EBITDA (USD) |
$45.6 |
$95 – $105 |
$140 – $160 |
About Trulieve Cannabis Corp.
Trulieve, the largest medical cannabis company in Florida, cultivates and produces all its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout Florida (as well as directly to patients via home delivery) and also to a limited extent in California, Massachusetts and Connecticut.
Stock Price History
In spite of Trulieve's success over the past year its stock price has been quite volatile, much like the cannabis stock market in general. As of the close of business on Friday, August 16th, 2019 the stock was down 41.4% from its April 3rd high but is still up 10.1% from the beginning of 2019 as can be seen in the chart below: