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.
