Trulieve Cannabis Corp
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
TRLV$11.01-4.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except for share data)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $284,284 | $275,210 | $885,345 | $842,219 |
| Cost of goods sold | 111,006 | 132,264 | 356,617 | 407,444 |
| Gross profit | 173,278 | 142,946 | 528,728 | 434,775 |
| Expenses: | ||||
| Sales and marketing | 66,727 | 59,398 | 191,016 | 181,206 |
| General and administrative | 81,897 | 34,455 | 161,500 | 108,668 |
| Depreciation and amortization | 28,332 | 26,958 | 84,163 | 82,624 |
| Impairment and disposal of long-lived assets, net of (recoveries) | (4,296) | (1,209) | (4,423) | 5,480 |
| Impairment of goodwill | — | — | — | 307,590 |
| Total expenses | 172,660 | 119,602 | 432,256 | 685,568 |
| Income (loss) from operations | 618 | 23,344 | 96,472 | (250,793) |
| Other income (expense): | ||||
| Interest expense, net | (17,459) | (20,834) | (47,577) | (60,925) |
| Interest income | 4,202 | 1,927 | 11,499 | 4,323 |
| Gain on debt extinguishment | — | 8,161 | — | 8,161 |
| Other (expense) income, net | (198) | 1,126 | (4,778) | 5,875 |
| Total other expense, net | (13,455) | (9,620) | (40,856) | (42,566) |
| (Loss) income before provision for income taxes | (12,837) | 13,724 | 55,616 | (293,359) |
| Provision for income taxes | 47,383 | 36,640 | 150,018 | 105,933 |
| Net loss from continuing operations | (60,220) | (22,916) | (94,402) | (399,292) |
| Net loss from discontinued operations, net of tax benefit (provision) of zero, $5, zero, and $(625), respectively | (1,636) | (2,927) | (4,613) | (99,054) |
| Net loss | (61,856) | (25,843) | (99,015) | (498,346) |
| Less: net loss attributable to non-controlling interest from continuing operations | (1,384) | (451) | (2,779) | (3,788) |
| Less: net loss attributable to redeemable non-controlling interest from continuing operations | (259) | — | (916) | — |
| Less: net loss attributable to non-controlling interest from discontinued operations | — | — | — | (1,193) |
| Net loss attributable to common shareholders | $(60,213) | $(25,392) | $(95,320) | $(493,365) |
| Earnings Per Share (see numerator reconciliation below) | ||||
| Net loss per share - Continuing operations: | ||||
| Basic and diluted | $(0.32) | $(0.12) | $(0.52) | $(2.09) |
| Net loss per share - Discontinued operations: | ||||
| Basic and diluted | $(0.01) | $(0.02) | $(0.02) | $(0.52) |
| Weighted average number of common shares used in computing net loss per share: | ||||
| Basic and diluted | 190,190,923 | 188,924,694 | 190,004,261 | 188,959,454 |
| EPS Numerator Reconciliation (see Note 5) | ||||
| Net loss attributable to common shareholders (from above) | $(60,213) | $(25,392) | $(95,320) | $(493,365) |
| Net loss from discontinued operations, net of tax, attributable to common shareholders | 1,636 | 2,927 | 4,613 | 97,861 |
| Adjustment of redeemable non-controlling interest to maximum redemption value | (2,065) | — | (9,010) | — |
| Net loss from continuing operations available to common shareholders | $(60,642) | $(22,465) | $(99,717) | $(395,504) |
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