TRULIEVE CANNABIS CORP.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.18B | $1.19B | $1.13B | $1.22B | $931.9M | $521.5M | $252.8M |
| Cost of Revenue | $470.0M | $470.7M | $540.6M | $529.1M | $365.4M | $135.1M | $61.0M |
| Gross Profit | $711.2M | $715.7M | $588.6M | $689.1M | $566.6M | $386.4M | $191.8M |
| Gross Margin | 60.2% | 60.3% | 52.1% | 56.6% | 60.8% | 74.1% | 75.9% |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | — |
| SG&A Expense | $445.2M | $510.5M | $386.2M | $169.5M | $99.5M | $36.1M | $14.1M |
| Operating Income | $143.5M | $97.8M | $-221.6M | $50.2M | $204.1M | $218.3M | $113.3M |
| Operating Margin | 12.1% | 8.2% | -19.6% | 4.1% | 21.9% | 41.9% | 44.8% |
| Interest Expense | — | — | $81.6M | $73.4M | $29.1M | $20.2M | $9.1M |
| Pretax Income | $91.5M | $42.7M | $-284.5M | $-19.2M | $176.2M | $157.4M | $103.7M |
| Income Tax Expense | $208.1M | $197.6M | $151.4M | $163.4M | $145.7M | $94.5M | $50.6M |
| Net Income | $-122.2M | $-160.6M | $-533.1M | $-252.7M | $17.4M | $63.0M | $53.1M |
| Net Margin | -10.3% | -13.5% | -47.2% | -20.7% | 1.9% | 12.1% | 21.0% |
| EPS (Basic) | $-0.58 | $-0.79 | $-2.28 | $-0.95 | $0.22 | $0.55 | $0.48 |
| EPS (Diluted) | $-0.58 | $-0.79 | $-2.28 | $-0.95 | $0.21 | $0.53 | $0.46 |
| Shares Outstanding (Basic) | 191.3M | 190.0M | 189.0M | 188.0M | 139.4M | 113.6M | 110.2M |
| Shares Outstanding (Diluted) | 191.3M | 190.0M | 189.0M | 188.0M | 146.8M | 118.3M | 115.3M |
| Dividends Per Share | — | — | — | — | — | — | — |