Investor Presentaiton
www.trulieve.com
Financial Highlights*
INCOME STATEMENT HIGHLIGHTS
(USD millions)
Q4:22 Q3:22
Q2:22
Q1:22 Q4:21
2022 2021
Revenue
302.2
300.8
319.1
317.7
304.9
1239.8 938.0
Gross Profit
149.7
168.0
183.8
180.5
134.1
682.0 567.8
Gross Margin
49.5%
55.9%
57.6%
56.8%
44.0%
55.0% 60.5%
Adjusted Gross Profit
162.1
171.9
183.7
185.3
180.6
702.9 621.4
Adjusted Gross Margin
53.6%
57.1%
57.6%
58.3%
59.2%
56.7% 66.2%
SG&A
125.8
113.6
108.9
106.4
116.9
454.7 315.7
SG&A as % Revenue
41.6% 37.8%
34.1%
33.5%
38.3%
36.7% 33.7%
Adjusted SG&A
94.4
92.0
91.9
95.1
96.4
373.4 274.2
Adjusted SG&A as % Revenue
31.2% 30.6%
28.8%
29.9%
31.6%
30.1% 29.2%
Depreciation and Amortization
30.7
30.2
30.0
28.4
27.4
119.4 47.2
Net Income (Loss)**
(77.0)
(114.6)
(22.5)
(32.0)
(71.5)
(246.1) 18.0
Net Income (Loss) Continuing Operations
(75.9)
(77.0) (22.1)
(30.1)
(70.2)
(205.2) 19.4
Adjusted Net Income (Loss)
(34.7)
3.5
(0.6)
1.7
1.5
(30.1) 123.4
EPS**
(0.41)
(0.61)
(0.12)
(0.16)
(0.49)
(1.31) 0.12
EPS Continuing Operations
(0.40)
(0.41)
(0.11)
(0.16)
(0.48)
(1.06) 0.14
Adjusted EPS
(0.18)
0.02
0.00
0.01
0.01
(0.16) 0.84
Adjusted EBITDA
84.7
98.8
111.3
105.4
100.9
400.1 384.6
Adjusted EBITDA Margin
28.0% 32.8%
34.9% 33.2%
33.1%
32.3% 41.0%
*Adjusted gross profit, adjusted gross margin, adjusted net income, adjusted EPS, adjusted EBITDA and adjusted EBITDA Margin are
Non-GAAP financial measures. See slides 27-29 for reconciliation to GAAP for all Non-GAAP financial measures.
**Includes discontinued operations.
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