Trulieve Cannabis Corp.

Listed Company

TRLVCIK 0001754195NYSELarge AcceleratedMedicinal Chemicals & Botanical ProductsA1CAFY ends Dec 31

Period

FY 2025

Revenue

$1.18B

Net Income

$-122.25M

Total Assets

$2.70B

Equity

$1.14B

Shares Out

192.30M

Op. Cash Flow

$272.82M

TRLV$9.78−14.96% · past 3 weeksDBEQ Basic

Daily closing prices

Business

Trulieve Cannabis Corp. is a vertically integrated cannabis company and multi-state operator that cultivates, manufactures, markets and retails regulated cannabis products. It offers cultivated flower, extracts and a wide range of manufactured branded products across premium, mid and value tiers, plus wholesale supply and consumer-facing services such as online ordering, delivery and a customer rewards program. The company operates through directly and indirectly owned subsidiaries and managed service agreements and organizes operations into three regional hubs. It serves regulated state markets including Arizona, Florida, Georgia, Pennsylvania, West Virginia, Maryland, Ohio, Connecticut and Colorado through numerous branded retail locations and wholesale distribution channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,181	1,186	1,129	1,218	932
Cost of goods sold	470	471	541	529	365
Gross profit	711	716	589	689	567
Selling, general, and administrative	445	510	386	—	—
Depreciation and amortization	118	113	110	116	46
Impairment and other charges, net of (recoveries)	5	−5	7	—	—
Impairment of goodwill	0	0	308	0	0
Total expenses	568	618	810	639	363
Income (loss) from operations	143	98	−222	50	204
Interest expense, net	−63	−62	−82	−73	—
Interest income	15	15	6	2	—
(Loss) gain on debt extinguishments, net	−2	0	6	0	0
Other (expense) income, net	−1	−8	7	2	1
Total other expense, net	−52	−55	−63	−69	−28
Income (loss) before provision for income taxes	91	43	−285	−19	176
Provision for income taxes	208	198	151	163	146
Net loss from continuing operations	−117	−155	−436	−183	31
Net loss from discontinued operations, net of tax (provision) benefit of $(209), $0, and $4,101, respectively	−6	−6	−97	−70	−13
Net loss	−122	−161	−533	−253	17
Less: net loss attributable to non-controlling interest from continuing operations	−6	−5	−5	−4	−587,000
Less: net loss attributable to non-controlling interest from discontinued operations	0	0	−1	−3	0
Net loss attributable to common shareholders	−116	−155	−527	−246	18
Basic (in dollars per share)	−0.58	−0.79	−2.28	−0.95	0.22
Diluted (in dollars per share)	−0.58	−0.79	−2.28	−0.95	0.21
Basic (in dollars per share)	−0.03	−0.03	−0.51	−0.36	−0.09
Diluted (in dollars per share)	−0.03	−0.03	−0.51	−0.36	−0.09
Basic (in shares)	191	190	189	188	139
Diluted (in shares)	191	190	189	188	147

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	256	239	201	207	227
Short-term investments	0	60	0	—	—
Restricted cash	0	907,000	—	—	—
Accounts receivable, net	10	8	7	7	9
Inventories	242	231	213	277	210
Income tax receivable	8	10	0	—	—
Prepaid expenses	18	23	18	11	—
Other current assets	25	26	24	51	—
Notes receivable - current portion, net	1	5	6	728,000	2
Assets associated with discontinued operations	859,000	868,000	2	34	4
Total current assets	563	605	477	594	525
Property and equipment, net	670	716	676	743	779
Right of use assets - operating, net	108	120	96	99	112
Right of use assets - finance, net	60	64	59	70	67
Intangible assets, net	798	859	917	985	1,081
Goodwill	484	484	484	791	765
Notes receivable, net	450,000	528,000	7	12	12
Other assets	10	20	10	13	18
Long-term assets associated with discontinued operations	2	2	2	93	52
TOTAL ASSETS	2,696	2,870	2,729	3,400	3,411
Accounts payable and accrued liabilities	83	94	83	82	94
Deferred revenue	10	8	1	—	—
Notes payable - current portion	4	3	4	12	10
Operating lease liabilities - current portion	13	12	10	10	10
Finance lease liabilities - current portion	11	10	8	8	6
Construction finance liabilities - current portion	2	2	1	1	991,000
Contingencies	780,000	6	4	35	—
Liabilities associated with discontinued operations	4	3	3	2	92,000
Total current liabilities	127	138	115	210	169
Private placement notes, net	137	365	363	542	463
Notes payable, net	91	112	116	94	6
Operating lease liabilities	108	117	92	100	108
Finance lease liabilities	64	68	62	70	65
Construction finance liabilities	134	136	137	—	—
Deferred tax liabilities	178	197	207	225	242
Uncertain tax position liabilities	668	445	180	19	—
Other long-term liabilities	11	5	7	7	8
Long-term liabilities associated with discontinued operations	35	39	42	68	24
TOTAL LIABILITIES	1,553	1,621	1,320	1,473	1,264
Commitments and contingencies (see Note 20)	—	—	—	—	—
Common stock, no par value; unlimited shares authorized. 192,307,145 and 191,005,940 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	0	0	0	0	—
Additional paid-in-capital	2,073	2,057	2,055	2,045	2,008
Accumulated deficit	−912	−796	−641	−114	138
Non-controlling interest	−18	−12	−6	−3	2
TOTAL EQUITY	1,143	1,249	1,409	1,928	2,147
TOTAL LIABILITIES AND EQUITY	2,696	2,870	2,729	3,400	3,411

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	118	113	111	122	48
Depreciation included in cost of goods sold	56	54	60	53	24
Impairment and other charges, net of (recoveries)	5	−5	7	—	—
Share-based compensation	20	20	11	18	9
Deferred income taxes	−19	−10	−17	—	—
(Gain) loss from disposal of discontinued operations	−826,000	0	69	49	0
Other non-cash changes	20	18	20	4	—
Inventories	−11	−19	83	−83	−20
Accounts receivable	−4	741,000	−2	−4	−5
Other assets	6	−9	10	2	−6
Accounts payable and accrued liabilities	−11	7	2	−819,000	−10
Income tax receivable / payable	2	−9	−49	20	−13
Other liabilities	−16	−2	−31	22	−16
Uncertain tax position liabilities	223	265	161	13	3
Proceeds received from insurance for operating expenses	6	8	0	0	—
Net cash provided by operating activities	273	271	202	23	13
Purchases of property and equipment	−44	−123	−40	−165	−276
Purchases of internal use software	−16	−25	−11	−9	−4
Purchases of short-term investments	0	−80	0	—	—
Maturities of short-term investments	60	20	0	0	—
Other purchase and payments	−117,000	−8	−5	—	—
Other proceeds	14	9	19	—	—
Net cash provided by (used in) investing activities	14	−207	−37	−215	−215
Proceeds from private placement notes	140	0	0	76	6
Payments on long-term borrowings	−393	−8	−191	—	—
Payments for debt issuance costs	−3	0	0	−832,000	−251,000
Payments for taxes related to net share settlement of equity awards	−5	−15	−466,000	−615,000	−1
Other payments and distributions	−9	−14	−8	—	—
Other proceeds	0	3	25	—	—
Net cash used in financing activities	−270	−33	−176	178	289
Net increase (decrease) in cash, cash equivalents, and restricted cash	16	31	−11	−14	87
Interest	70	65	81	76	39
Income taxes paid, net of (refunds)	1	−48	53	147	179
ASC 842 lease additions - operating and finance leases	17	52	14	41	61
Purchases of property and equipment in accounts payable and accrued liabilities	4	5	3	4	18
Reclassification of assets to held for sale	6	11	18	0	0
Operating license intangible placed into service, transfer from other assets	7	0	0	—	—
Redeemed non-controlling interest, former mezzanine equity	0	3	0	0	—
Redemptions of non-controlling interest	0	2	0	0	—
Noncash partial extinguishment of construction finance liability	0	0	18	0	0

Filings

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Frequently asked questions

What is Trulieve Cannabis Corp.'s CIK number?

Trulieve Cannabis Corp.'s SEC CIK number is 0001754195 (1754195). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Trulieve Cannabis Corp.'s SEC filings?

All of Trulieve Cannabis Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Trulieve Cannabis Corp. last report earnings?

Trulieve Cannabis Corp. (TRLV) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001754195-26-000030). This is Trulieve Cannabis Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Trulieve Cannabis Corp.'s most recent earnings 8-K?

Trulieve Cannabis Corp.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001754195-26-000030. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Trulieve Cannabis Corp.'s latest earnings 8-K →
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