Trulieve 2022 Revenue Grows 32% YoY, What About Adjusted EBITDA?

Trulieve Cannabis Corp. TCNNF TRUL revenue in 2022 was $1.2 billion, 32% increase compared to $938 million in 2021. The one of the largest multi-state cannabis operators will take part at the upcoming most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, with its cheif marketing officer, Gina Collins, being one of the featured speakers. Come, meet and learn more about the company's strategy that enabled it to achieve solid earnings last year.  

Q4 2022 Financial Highlights

• Revenue of $302 million, a 1% decrease compared to $305 million in Q4 2021.

• Gross profit of $150 million, a 12% increase compared to $134 million in Q4 2021.

• Gross margin of 50%, compared to 44% in Q4 2021.

• Net loss of $77 million, compared to net loss of $72 million in Q4 2021.

• Adjusted EBITDA of $85 million, a 16% decrease compared to $101 million in Q4 2021.

• Closed $90 million in commercial loans with average interest rate of 7.5% interest.

2022 Full Year Financial and Operational Highlights

• Gross profit of $682 million, a 20% increase compared to $568 million in 2021.

• Gross margin of 55%, compared to 61% in 2021.

• Net loss of $246 million, compared to net income of $18 million in 2021.

• Adjusted EBITDA of $400 million, a 4% increase compared to $385 million in 2021.

• Cash at year end of $219 million.

• Closed $75 million in senior secured notes at 8% interest due October 2026.

"Trulieve has grown to surpass $1.2 billion in revenue in less than seven years, a notable milestone and a testament to the agility of our team," stated Kim Rivers, Trulieve CEO. "Our success is the culmination of thoughtful intention, superb execution, and best in class capabilities for rapid growth.”

Rivers continued, "With increasing mainstream support and meaningful regulatory reform on the horizon, tremendous growth opportunities lie ahead for U.S. legal cannabis. In 2023, we are laser focused on cash generation while investing to build a sustainable company designed to thrive in an integrated commerce environment."

Benzinga's Cannabis Capital Conference Is Back

Meet Gina Collins, chief marketing officer of Trulieve at the Benzinga Cannabis Capital Conference. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo: Benzinga edit with photo by Kindel Media on Pexels