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Trulieve Cannabis Corp reported first quarter 2024 results with $298 million in revenue, up 4% sequentially, and a 58% gross margin. The company demonstrated strong cash flow from operations of $139 million and free cash flow of $124 million. Significant progress was made on the Smart and Safe Florida adult use initiative and federal rescheduling of cannabis to Schedule III. Trulieve opened three new dispensaries in Florida and ended the quarter with 31% of retail locations outside of the state. Recent developments include the inclusion of the Smart & Safe Florida initiative on the November 2024 election ballot and progress on federal rescheduling of cannabis to Schedule III. Trulieve's CEO highlighted the strong performance in the core business and future growth catalysts, positioning the company for continued success.
Trulieve Cannabis Corp. announced its participation in upcoming events in May 2024. The company will be represented at the 19th Annual Needham Technology, Media, & Consumer Conference on May 16 and the Canaccord Genuity 8th Annual Global Cannabis Conference on May 23. Details and links to the events can be accessed on the investor relations page.