Trulieve Cannabis Corp (CSE: TRUL) this morning reported its first quarter 2021 financial results this morning. The company reported quarterly revenues of US$193.8 million, beating consensus estimates, along with a net income of $30.1 million.
Revenues grew 15% on a quarter over quarter basis, from $168.4 million to $193.8 million. Gross profits meanwhile came in at $135.3 million, resulting in a gross margin of 70% for the three month period. Gross margins were down by 1% on a quarter over quarter basis, while gross profits grew 13%.
Operating expenses meanwhile climbed to $57.3 million for the period, up from $52.0 million in the prior quarter, or a 10% increase. After all expenses, the company reported a net income of $30.1 million, along with adjusted EBITDA of $90.8 million.
Cash flows from operations reportedly sat of $60.4 million as per the firms news release, however full financial results are yet to be filed.
Trulieve Cannabis last traded at $48.00 on the CSE.
Information for this briefing was found via Sedar and Trulieve Cannabis Corp. 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.