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Trulieve — Third Quarter 2026 Earnings Summary

  • Q3 2026 revenue declined 20% year-over-year to $230 million, while net income turned positive at $1 million compared to a $27 million loss in Q3 2025; adjusted net income improved to $18 million from a $12 million loss, and adjusted EBITDA fell 13% to $89 million.
  • Management highlighted an accelerated growth cycle driven by expansion in Georgia and Texas, following the unlocking of major regulatory milestones including DEA registration and the removal of the 280E tax.
  • Strategic capital management included repaying $65 million in mortgage notes early to reduce leverage and the deconsolidation of Harvest operations, which recorded a $403.3 million loss for the nine-month period.
  • The company expanded its footprint with new product launches and two new dispensaries in Florida and Georgia, while securing a perpetual royalty-free license for Alien Labs and Connected branded products in Florida and Texas.
Company
TRULIEVE CANNABIS CORP
Sector
Healthcare
Industry
Drug Manufacturers - Specialty & Generic