Saturday, May 31, 2025

Latest

Trulieve Cannabis Posts Q1 Revenues Of $318.3 Million, Net Loss

Trulieve Cannabis (CSE: TRUL) this morning reported its first quarter 2022 financial results. Results were notably in that the firm managed to break the trend currently being seen across the sector by demonstrating revenue growth on a quarter over quarter basis.

Revenue for the quarter came in at $318.3 million, a 4% improvement over the $305.3 million posted in the fourth quarter of 2021. Gross profits also improved, with the company posting $178.2 million in gross profits, or a 56.0% margin, versus the $132.4 million recognized in the fourth quarter at margins of 43.4%.

Expenses for the quarter meanwhile totaled $149.5 million, lead by sales and marketing expenses of $72.9 million. General and administrative expenses was the next largest line item at $33.5 million, while the company also recorded impairments of $13.8 million in the three month period. Overall, the company reported income from operations of $28.7 million.

However, with interest expenses of $17.9 million for the period, as well as $42.3 million in provisions for income taxes, the company ultimately posted a net loss for the period of $32.0 million, or $0.17 per share. The figure compares to a loss of $71.5 million in the fourth quarter. On an adjusted EBITDA basis, the company reported a figure of $105.5 million, versus adjusted EBITDA of $100.9 million in the fourth quarter.

Looking to the balance sheet, the company posted a cash and cash equivalents position of $267.2 million, versus $230.6 million at the end of the fourth quarter. Total current assets is currently pegged at $593.3 million, versus total current liabilities of $237.8 million.

In terms of guidance, the firm reiterated its prior revenue guidance for 2022 of $1.3 to $1.4 billion, while adjusted EBITDA is expected to be between $450 and $500 million. The firm currently expects the second half of the year to be stronger than the first half.

Trulieve Cannabis last traded at $17.66 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

PI Financial: Trulieve, Cresco Labs Top Cannabis Picks For 2020

This morning PI Financial came out with their mid-year top picks for 2020. Among the...

Monday, July 13, 2020, 01:25:25 PM

Florida Marijuana Group Unveils Revamped Legalization Plan for 2026

The proponents of Florida’s failed recreational marijuana measure have unveiled a revised constitutional amendment for...

Friday, January 17, 2025, 03:48:00 PM

Trulieve Cannabis Closes Acquisition Of Harvest Health

Trulieve Cannabis (CSE: TRUL) has finally completed the acquisition of Harvest Health (CSE: HARV). It...

Friday, October 1, 2021, 07:43:45 AM

Trulieve Receives Georgia Cannabis Production License, Targets Five Dispensaries

Trulieve Cannabis (CSE: TRUL) announced on Wednesday that its subsidiary in the US state of Georgia...

Thursday, September 22, 2022, 10:44:00 AM

Trulieve Sues Ex-CFO For Using Firm’s Funds As “Personal Slush Fund”

Trulieve Cannabis (CSE: TRUL) has taken legal action against its former financial chief, Alex D’Amico,...

Friday, March 15, 2024, 11:50:00 AM