Investor Presentaiton
www.trulieve.com
Third Quarter 2023 Financial and Operational Highlights*
. Revenue $275 million, with 96% revenue from retail sales
.
GAAP gross profit of $143 million and 52% gross margin, improved by 2% sequentially
SG&A expenses of $94 million, lowered by $2 million sequentially
Net loss of $25 million
Adjusted net loss of $15 million excludes non-recurring charges, disposals and discontinued
operations
EBITDA of $74 million or 27% of revenue and Adjusted EBITDA of $78 million or 28% of revenue
Cash flow from operations of $93 million
Free cash flow of $87 million
Generated cash flow from operations excluding tax payments of $184 million year to date
Purchased $57 million face value senior secured 2026 notes for $47.6 million, which represents
a 16.5% discount to par, plus accrued interest
Opened dispensaries in Pace and Sanford, FL, Evans and Pooler, GA, and Columbus, OH
Relocated one dispensary in Kissimmee, FL
*
Adjusted net loss, adjusted EBITDA, and free cash flow are Non-GAAP financial measures. See slides 14-16 for reconciliation to GAAP for all Non-GAAP financial
measures. Numbers may not sum perfectly due to rounding.
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