Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a constituent in the munKNEE American Cannabis MSO Stocks Portfolio, announced its financial results for Q2 ended June 30th, 2024, as follows, comparing Q2 2024 with Q1 2024 and with all figures are in U.S. dollars.

Q2 Financial Highlights

• Revenue: UP 1.7% to $303M
• Gross Profit: UP 4.6% to $182M
  • as a % of Revenue: UP to 60% from 58%
• SG&A Expenses: DOWN 29.7% to $71M
  • as a % of Revenue: DOWN to 23.4% from 33.9%
• Net Income (Loss): Loss reduced by 47.8% to $(12)M
• Adj. EBITDA: Increased 0.9% to $107M
  • as a % of Revenue: DOWN to 35.0% from 35.5%
• Cash on Hand: UP 8.9% to $356M

Q2 Operational Highlights

• Opened 3 new dispensaries in Florida and acquired 2 dispensaries in Ohio and now has 32% of its 206 retail locations outside of Florida.

Management Commentary

Kim Rivers, Trulieve CEO, said:

• "...Second quarter results demonstrated strength in our core business with our third consecutive quarter of revenue growth and margin expansion...[and], given our financial performance and significant scale in key markets, Trulieve is...[well] positioned for the coming wave of growth catalysts."

Stock Performance

Trulieve Cannabis stock is UP 9% as of mid-day and is now UP 79% YTD.

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