Trulieve Cannabis Corp. (CSE: TRUL) today announced its financial results for the third quarter ended September 30, 2018.
Unless otherwise stated, all currency is expressed in U.S. dollars.
Q3 2018 Highlights
- Revenue grew from $23.3 million in Q2 2018 to $28.3 million in Q3 2018
- Adjusted EBITDA1,2 increased from $11.7 million in Q2 2018 to $12.6 million in Q3 2018
- Began trading on the Canadian Securities Exchange
Highlight Subsequent to Q3 2018
- Entered into agreements to acquire 100% of Life Essence, Inc. and 100% of Leef Industries, LLC.
"These outstanding results in Q3 demonstrate the meaningful progress we've made on our strategic plan since becoming a publicly-traded company in September," said Kim Rivers, CEO of Trulieve. "Looking ahead, we remain focused on scalable growth, including multi-state operational expansion."
Earlier this month, Trulieve announced the acquisition of Life Essence, Inc. and Leef Industries, LLC., based in Massachusetts and California respectively. These acquisitions mark the first operational initiatives beyond Florida for Trulieve.
"Trulieve's market-leading brand experience continues to result in high patient retention as we deliver consistent, high-quality products, supported by predictive analytics and industry-leading outreach while advocating for patients and physicians," Rivers continued. "We believe we are well-positioned in continuing to be the dominant leader in the Florida market while firmly establishing our footprint in the Massachusetts and California markets moving forward."
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