Trulieve Cannabis Corp. (TCNNF) Financial Statements
Industry: Medicinal Chemicals & Botanical Products
In fiscal 2025, Trulieve Cannabis reported revenue of $1.18B, down 0.4% from $1.19B the year before. Net income was -$116.4M (a -9.9% net margin), or -$0.58 per diluted share. Gross margin was 60.2% and operating margin was 12.1%. Operating activities generated $272.8M of cash, leaving $228.6M of free cash flow. At fiscal year end, Trulieve Cannabis held $2.70B in total assets against $1.55B in total liabilities, including $255.5M of cash and equivalents.
Open the full interactive Trulieve Cannabis financials → Quarterly statements, key ratios, valuation history and price charts.
Trulieve Cannabis Key Stats
| Share Price | $10.11 |
|---|---|
| Market Cap | $1.95B |
| Revenue YoY Growth | -0.4% |
| 52-Week Range | $4.76 – $13.00 |
| Shares Outstanding | 192.7 million (basic, 2026 Q2) |
Trulieve Cannabis Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $938.4M | $1.24B | $1.13B | $1.19B | $1.18B |
| Cost of Goods Sold | $372.3M | $557.8M | $540.6M | $470.7M | $470.0M |
| Gross Profit | $566.1M | $682.0M | $588.6M | $715.7M | $711.2M |
| Operating Income | $196.9M | $32.4M | -$221.6M | $97.8M | $143.5M |
| Pre-Tax Income | $163.5M | -$43.3M | -$284.5M | $42.7M | $91.5M |
| Income Tax | $146.1M | $161.8M | $151.4M | $197.6M | $208.1M |
| Net Income | $17.4M | -$252.7M | -$528.0M | -$155.1M | -$116.4M |
| Diluted EPS | $0.12 | -$1.06 | -$2.28 | -$0.79 | -$0.58 |
Trulieve Cannabis Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $288.2M | $293.1M | $286.8M | $271.0M |
| Net Income | -$28.8M | -$37.7M | $2.3M | -$406.1M |
| Diluted EPS | -$0.15 | -$0.20 | $0.01 | -$2.11 |
Trulieve Cannabis Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash & Equivalents | $230.6M | $212.3M | $201.4M | $238.8M | $255.5M |
| Current Assets | $524.4M | $593.0M | $477.3M | $604.6M | $562.7M |
| Total Assets | $3.41B | $3.40B | $2.73B | $2.87B | $2.70B |
| Current Liabilities | $168.9M | $209.7M | $114.8M | $138.5M | $126.9M |
| Total Long-Term Debt | $462.9M | $541.7M | $363.2M | $364.8M | $136.7M |
| Total Liabilities | $1.26B | $1.47B | $1.32B | $1.62B | $1.55B |
| Shareholders' Equity | $2.15B | $1.93B | $1.41B | $1.25B | $1.14B |
Trulieve Cannabis Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash From Operations | $12.9M | $23.1M | $201.8M | $271.5M | $272.8M |
| Cash From Investing | -$215.2M | -$215.1M | -$37.5M | -$206.6M | $13.5M |
| Cash From Financing | $289.2M | $177.8M | -$175.6M | -$33.4M | -$270.5M |
| Free Cash Flow | -$263.0M | -$141.7M | $161.5M | $150.0M | $228.6M |
Figures from Trulieve Cannabis' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Trulieve Cannabis financials page for every line item.
Trulieve Cannabis Company Profile
| Ticker | TCNNF |
|---|---|
| Exchange | NYSE |
| Industry | Medicinal Chemicals & Botanical Products |
| Headquarters | Tallahassee, Florida |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001754195 |
Frequently Asked Questions
What was Trulieve Cannabis' revenue in fiscal 2025?
Trulieve Cannabis (TCNNF) reported revenue of $1.18B for fiscal 2025.
What is Trulieve Cannabis' annual revenue history?
Trulieve Cannabis' annual revenue by fiscal year: 2021: $938.4M; 2022: $1.24B; 2023: $1.13B; 2024: $1.19B; 2025: $1.18B.
What was Trulieve Cannabis' net income in fiscal 2025?
Trulieve Cannabis reported net income of -$116.4M for fiscal 2025.
What was Trulieve Cannabis' earnings per share (EPS) in fiscal 2025?
Trulieve Cannabis' diluted EPS was -$0.58 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Trulieve Cannabis generate in fiscal 2025?
Trulieve Cannabis generated $228.6M of free cash flow in fiscal 2025.
What was Trulieve Cannabis' revenue last quarter?
In its most recent reported quarter (2026 Q2), Trulieve Cannabis reported revenue of $271.0M.
How much debt does Trulieve Cannabis have?
Trulieve Cannabis reported $136.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Trulieve Cannabis are outstanding?
Trulieve Cannabis reported a weighted average of 192.7 million basic shares outstanding in 2026 Q2.
What is Trulieve Cannabis' market cap?
Based on its latest closing price, Trulieve Cannabis (TCNNF) has a market capitalization of about $1.95B.
When does Trulieve Cannabis' fiscal year end?
Trulieve Cannabis' fiscal year end, as registered with the SEC, is December 31.
Where is Trulieve Cannabis headquartered?
Trulieve Cannabis lists its business address in Tallahassee, Florida in its SEC filings.
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