Trulieve Reports Record Revenue for the Third Quarter of 2018

Trulieve Reports Record Revenue for the Third Quarter of 2018

Release of strong earnings and growth follows recent announcement of first operational growth outside ofFlorida

Trulieve Cannabis Corp. (CSE: TRUL) today announced its financial results for the third quarter ended September 30, 2018.

Unless otherwise stated, all money is expressed in U.S. dollars.

Q3 2018 Highlights

  • Revenue grew from $23.3 million in Q2 2018 to $28.3 million in Q3 2018
  • Adjusted EBITDA1,2 increased from $11.7 million in Q2 2018 to $12.6 million in Q3 2018
  • Began trading on the Canadian Securities Exchange

Highlight Subsequent to Q3 2018

  • Entered into agreements to acquire 100% of Life Essence, Inc. and 100% of Leef Industries, LLC.

“These outstanding results in Q3 demonstrate the meaningful progress we have made on our strategic plan since becoming a publicly-traded company in September,” said Kim Rivers, CEO of Trulieve. “Looking ahead, we remain focused on scalable expansion, including multi-state operational growth.”

Earlier this month, Trulieve announced the purchase of Life Essence, Inc. and Leef Industries, LLC., based in Massachusetts and California respectively. These acquisitions indicate the first operational initiatives beyond Florida for Trulieve.

“Trulieve’s market-leading brand experience continues to result in high patient retention as we deliver consistent, high quality goods, supported by predictive analytics and industry-leading outreach while advocating for patients and physicians,” Rivers continued. “We believe we’re well-positioned in continuing to be the dominant leader in the Florida market while firmly establishing our footprint in the Massachusetts and California markets moving forward.”

READ THE FULL RELEASE HERE

Published at Mon, 19 Nov 2018 15:02:59 +0000

Posted in: Investing

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