Trulieve Cannabis Corp.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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.
Mar 31, 2026 · Filed May 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income (loss) | $2,283 | $(33,759) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 29,743 | 29,328 |
| Depreciation included in cost of goods sold | 13,989 | 13,855 |
| (Gain) loss on disposal or impairment of assets | (282) | 1,793 |
| Gain from disposal of discontinued operations | (7) | — |
| Share-based compensation | 4,137 | 3,943 |
| Deferred income taxes | (8,214) | (4,650) |
| Other non-cash changes | 3,204 | 4,989 |
| Changes in operating assets and liabilities: | ||
| Inventories | (22) | (7,913) |
| Accounts receivable | (3,852) | (2,606) |
| Other assets | (2,358) | (8,045) |
| Accounts payable and accrued liabilities | (8,745) | (225) |
| Income tax receivable / payable | 1,707 | 1,373 |
| Uncertain tax position liabilities | 28,016 | 55,713 |
| Other liabilities | (3,893) | (2,667) |
| Net cash provided by operating activities | 55,706 | 51,129 |
| Cash flows from investing activities | ||
| Capital expenditures | (13,484) | (20,795) |
| Maturities of short-term investments | — | 60,000 |
| Other proceeds | 296 | 4,019 |
| Other purchases and payments | — | (206) |
| Net cash (used in) provided by investing activities | (13,188) | 43,018 |
| Cash flows from financing activities | ||
| Proceeds from long-term borrowings | 60,742 | — |
| Payments on long-term borrowings | (2,046) | (1,864) |
| Payments for debt issuance costs | (1,287) | — |
| Other payments and distributions | (2,582) | (2,396) |
| Payments for taxes related to net share settlement of equity awards | — | (238) |
| Net cash provided by (used in) financing activities | 54,827 | (4,498) |
| Net increase in cash and cash equivalents | 97,345 | 89,649 |
| Cash, cash equivalents, and restricted cash, beginning of period | 255,535 | 239,710 |
| Cash, cash equivalents, and restricted cash, end of period | $352,880 | $329,359 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the period for | ||
| Interest | $8,855 | $9,016 |
| Income taxes paid, net of refunds | 12 | 28 |
| Noncash investing and financing activities | ||
| ASC 842 lease additions - operating and finance leases | $14,124 | $5,125 |
| Purchases of property and equipment in accounts payable and accrued liabilities | 4,657 | 2,852 |
| Operating license intangible placed into service, transfer from other assets | — | 6,500 |
The condensed consolidated statements of cash flows include continuing operations and discontinued operations for the periods presented.
The following table summarizes the cash, cash equivalent, and restricted cash balances for each of the periods presented:
| March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Beginning of period: | ||
| Cash and cash equivalents (1) | $255,535 | $238,803 |
| Restricted cash | — | 907 |
| Cash, cash equivalents and restricted cash | $255,535 | $239,710 |
| End of period: | ||
| Cash and cash equivalents (1) | $352,880 | $328,452 |
| Restricted cash | — | 907 |
| Cash, cash equivalents and restricted cash | $352,880 | $329,359 |
(1) Excludes discontinued operations, which did not generate cash flows in any period presented.
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