TCNNF Trulieve Cannabis Corp.
Price Chart
Executive Summary
Trulieve reported Q1 2026 revenue of $286.8M (down 4% YoY) but achieved GAAP net income of $2.4M vs a loss of $32.9M a year ago, driven by lower operating expenses and reduced campaign contributions. Adjusted EBITDA declined 8% to $100.4M, though cash flow remained strong with operating cash flow of $55.7M. Management guided for low single-digit sequential revenue growth in Q2 and reiterated 2026 cash flow from operations of at least $250M. The rescheduling of medical marijuana to Schedule III provides a significant long-term catalyst.
Key Financial Metrics
Actionable Insight
Traders should watch for Q2 revenue trajectory relative to low single-digit sequential growth guidance and monitor the June 29 rescheduling hearing for potential uplisting and banking reform catalysts.
Key Facts
- Revenue $286.8M vs $297.8M YoY, down 4%
- GAAP net income $2.4M vs loss $32.9M
- Adjusted EBITDA $100.4M (35% margin) vs $109.2M (37%)
- Cash from ops $55.7M, FCF $42.2M
- Cash $353M, debt $290M
- Schedule III rescheduling of medical marijuana applications filed
- Q2 revenue expected up low single-digits sequentially
Financial Impact
Revenue declined $11M YoY (4%) but net income improved by $35M. Adjusted EBITDA down $8.8M.
Risk Factors
- Revenue decline may persist if retail traffic does not improve
- Uncertain tax position liability of $696M creates balance sheet risk
- Dependence on Florida medical market (86% of dispensaries medical only)
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001754195-26-000030 |
| Exhibit: exhibit992tcnnfpresentat.htm | 0001754195-26-000030 |
| Document: tcnnf-20260507.htm | 0001754195-26-000030 |
| Document: 0001754195-26-000030-index-headers.html | 0001754195-26-000030 |
| Document: 0001754195-26-000030-index.html | 0001754195-26-000030 |
| Document: 0001754195-26-000030.txt | 0001754195-26-000030 |
| 8-K Data (Synthetic) | 0001754195-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
5d ago
|
8-K
| $12.15 awaiting T+1 | awaiting T+1 | — | $10.35 (−14.81%) |
|
Jun 4, 2026
10d ago
|
8-K
| $9.99 $11.74 | ▲ +17.52% | ▲ +20.12% | $10.35 (+3.60%) |
|
May 7, 2026
5w ago
|
8-K
| $9.31 $8.80 | ▼ −5.48% | ▼ −6.31% | $10.35 (+11.17%) |
|
Apr 29, 2026
6w ago
|
DEFA14A
| $9.84 $9.59 | ▼ −2.54% | ▼ −2.76% | $10.35 (+5.18%) |
|
Mar 5, 2026
14w ago
|
8-K
| $6.61 $6.40 | ▼ −3.18% | ▼ −4.02% | $10.35 (+56.58%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access