Trulieve Reports Q2 2026 Financial Results

TALLAHASSEE – Trulieve Cannabis Corp. released its second-quarter 2026 financial results, reflecting a period that included the deconsolidation of Harvest operations, recognition from TIME magazine, and the company’s listing on the New York Stock Exchange. The medical Cannabis operator outlined revenue, margins and cash generation while noting several operational and strategic steps.

Revenue for the quarter totaled $271 million, with 94% coming from retail sales. Gross profit reached $162 million, producing a 60% gross margin. Adjusted EBITDA stood at $98 million, or 36% of revenue. The company recorded a GAAP net loss attributable to common shareholders of $406 million, or $2.10 per share, driven largely by a $407 million impact from the Harvest deconsolidation and related equity investment. On an adjusted basis, net income was $20 million, or $0.11 per share.

Cash flow from operations came in at $53 million for the quarter, contributing to $109 million in operating cash flow and $74 million in free cash flow for H1 2026. Cash on hand at quarter-end was $325 million. Results for the period include Harvest operations through June 3 and Trulieve medical-only operations thereafter.

Operational updates included the opening of four Florida dispensaries in Belleview, Boca Raton, Lutz and Tallahassee, bringing the total retail network to 207 locations and 3.5 million sq. feet of cultivation and processing capacity. The company began shipping medical Cannabis products to licensed independent pharmacies in Georgia and filed applications to register its state-licensed medical operations with the DEA following the federal rescheduling of medical Cannabis to Schedule III. It also announced a share repurchase program of up to the lesser of $50 million or 8,495,038 subordinate voting shares and completed its listing on the NYSE under the ticker TRLV, becoming the first U.S. Cannabis company to do so after rescheduling.

CEO Kim Rivers described the NYSE listing as a historic step and pointed to the company’s scale and financial position as preparation for further state program growth and broader federal developments. Shareholder and board approval was obtained for domestication to Delaware.

All in all, Trilieve’s Q2 shows continued high retail concentration and solid adjusted margins alongside strong cash generation in H1 2026. The large GAAP loss is tied directly to the Harvest accounting change, while the adjusted figures and cash position provide a clearer view of ongoing operations. The NYSE listing, share-repurchase authorization and early Georgia pharmacy shipments add concrete markers of strategic progress that investors will weigh against the reduced reporting perimeter after deconsolidation.