Trulieve Cannabis Corp. reported $271 million in revenue for the second quarter of 2026, along with $98 million in adjusted EBITDA and a 60% gross margin.

The company said 94% of quarterly revenue came from retail sales. Revenue declined 10% from $302 million during the same quarter last year, while adjusted EBITDA decreased 11% from $111 million. GAAP gross profit reached $162 million.

Trulieve reported a net loss attributable to common shareholders of $406 million, or $2.10 per share. However, the figure included a $407 million impact related to the deconsolidation of Harvest and the company’s equity investment. Excluding nonrecurring items and other adjustments, Trulieve reported adjusted net income of $20 million, or $0.11 per share.

The company generated $53 million in operating cash flow and $32 million in free cash flow during the quarter. For the first six months of 2026, operating cash flow totaled $109 million and free cash flow reached $74 million. Trulieve ended June with $325 million in cash.

During the quarter, Trulieve completed the deconsolidation of its Harvest mixed medical and adult-use operations and became the first U.S. cannabis company to list on the New York Stock Exchange, trading under the ticker TRLV. The company also announced a share repurchase program of up to $50 million.

Trulieve also began shipping medical cannabis products to licensed independent pharmacies in Georgia and opened four Florida dispensaries in Belleview, Boca Raton, Lutz and Tallahassee. Since the end of the quarter, it has opened another location in Marco Island. The company currently operates 207 retail dispensaries and 3.5 million square feet of cultivation and processing capacity across the United States.

“We made history this quarter as the first U.S. cannabis company to list on the New York Stock Exchange following rescheduling of medical marijuana,” said Kim Rivers, Trulieve CEO. “With broader cannabis rescheduling and state program expansion in markets like Georgia and Texas on the horizon, Trulieve is well positioned to leverage its scale, financial strength, and branded products to drive future growth.”