Page 34 - SFHN JUNE 2020 FLIP BOOK

Trulieve Reports Strong Operational Results

and Record Revenue in the First Quarter of 2020

Trulieve Cannabis Corp. announced nationwide
its first quarter of 2020 ended March 31, • Introduced additional, industry lead-
2020. Unless otherwise stated, all cur- ing measures in response to COVID-19
rency is expressed in U.S. dollars.
Recent Highlights and
First Quarter 2020 Financial Developments
and Operational Highlights • Celebrated 4/20 with two record rev-
• Achieved record revenue of $96.1 enue days of approximately $2 million
million, an increase of 21% on a sequen- each day
tial quarter-to-quarter basis • Appointed Alex D’Amico as Chief
• Adjusted EBITDA1,2,3 was $49.4 Financial Officer, improving our bench-
million, or 51%, for the first quarter strength and adding broad accounting
2020 and finance background to support the
• Achieved earnings per share (EPS) of Company as it continues to grow
$0.12
• Achieved GAAP adjusted margin4 of “Trulieve posted exceptional opera-
77% tional results for the quarter, continuing
• Sustained strong cash position with to grow our market share in Florida as
cash and cash equivalents of $100.8 mil- we saw our dedicated team along with
lion at March 31, 2020 our scale and supply chain efficiencies
• Launched new products including successfully meet the increased demand
TruPowder, TruTincture drops, and our for our products,” stated stated Kim
ground flower product offering during Rivers, Trulieve CEO. “Trulieve’s execu-
the quarter tion of key fundamentals and financial
• Opened three new stores in Florida, discipline coupled with market share
ending the first quarter with 47 stores growth this quarter contributed to posi- tive free cash flow, further strengthening ous initiatives in response to COVID-19,
our balance sheet and validating our and is well prepared for the phased re-
financial stewardship. Our financial opening of businesses and public spaces
position continues to differentiate us in in Florida.
the market by providing flexibility to Furthermore, to date the Company has
support both organic and external not experienced any material COVID-19
growth initiatives which is increasingly impacts affecting its ability to serve
important during these times.” patients and customers. For additional
information on COVID-19 and associat-
COVID-19 Update ed risks to our business, refer to the
The Company’s response to COVID-19 “Risk Factors” in the Company’s
remains a priority for the health, safety Management
and well-being of its employees,
patients, customers, and communities. Discussion and Analysis for Q1 2020,
Trulieve has put into effect additional available on its website at
company-wide measures from its previ- www.trulieve.com/investors.

www.CannabisNewsFlorida.com
Visit us on the web at www.CannabisNewsFlorida.com

Contact uss toda y to lear n more!
ay
8 7. .6540
813.437
www .F astFi i geng erprintsFlorida.com
W K I \ V ] \ K [ INI(N Å \ [ V Z M O X W K [ \ V Q Z U

Y
Yoour source f or Florida Lev el 2 L e Scan Liv
fo
passionate Use Back Use Bac
Com
ground
Compassionate kg roundd Chec k s
• Florida Level 2 Live Scan Background

A
Checks (AHCA photo capable)
• Convenient locations & hours
• Appointments Required
• Online Registration
G H W L Q À H Q , J W Q L U S U H Q L ) • D U R W 6 J H
• Fingerprint Card Printing

34 June 2020 cannabisnewsflorida.com Cannabis News Florida