Trulieve Cannabis(OTC) TCNNF

Trulieve Cannabis Corp. makes and sells medical cannabis products. It grows plants and processes them in its own facilities. The company helps patients manage health using regulated cannabis.

What Trulieve Sells

• Cultivation and Production: Grows cannabis flower and biomass across 3.5 million square feet of capacity.
• Extraction Products: Uses ethanol and carbon dioxide methods to create oils and concentrates.
• In-house Brands: Sells premium labels like Avenue and Muse alongside value tier brands.
• Partner Products: Offers specialty brands through relationships with partners like Alien Labs and Black Tuna.
• Retail Services: Operates more than 200 dispensaries to serve medical and adult-use customers.

Growth and Expansion

• Applied to register all medical operations with the Drug Enforcement Agency in four states during April 2026.
• Completed a transaction to deconsolidate the mixed-use cannabis operations of Harvest Enterprises on June 3, 2026.
• Expanded the Georgia medical program on July 1, 2026, by removing product caps and adding new patient conditions.
• Finished building production capacity in Texas to prepare for final regulatory inspections and licensing.

Operational Strengths

Trulieve maintains a vertical supply chain by owning its cultivation, manufacturing, and retail distribution assets. This structure allows the company to control product quality and manage its brand experience across different state markets.

Key Financial Facts

• Revenue was $271.0 million for the three-month period ended June 30, 2026, down 10% year over year.
• Net loss was $406.1 million for the quarter ended June 30, 2026, due to a non-cash deconsolidation charge.
• Non-GAAP adjusted EBITDA was $98.0 million for the three months ended June 30, 2026, down from $110.6 million in 2025.
• Cash and cash equivalents totaled $325.4 million as of June 30, 2026.
• Provision for income taxes fell to $22.0 million in the second quarter of 2026, down 60% year over year.

Bottom Line

Trulieve has transitioned from a Florida-focused medical provider to a multi-state operator with integrated production and retail hubs. The company is now navigating federal regulatory changes and restructuring its business to focus on core markets.