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Trulieve Surpassed Analysts’ Q3 Revenue Estimates

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A look at Trulieve

Trulieve Cannabis (TCNNF) is a licensed medical cannabis company. Trulieve released its Q3 2018 earnings on November 19, 2018. The company reported revenues of $28.3 million during the third quarter of 2018 as compared to Wall Street analyst estimates of $26.6 million (or 35.1 million Canadian dollars) during the quarter. The below chart compares revenues for Trulieve since the third quarter of 2017.

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Revenues for Q3

Trulieve Cannabis reported revenues of $28.3 million during the third quarter of 2018, a 21.4% increase in quarter-over-quarter revenues as compared to $23.3 million during the second quarter of 2018.

During the third quarter of 2018, the gross margin decreased to 70.5% as compared to the gross margin of 74.3% during the second quarter of 2018. The EBITDA margin also decreased to 44.5% during the third quarter of 2018 as compared to 49.8% for the second quarter of 2018. Also, during the third quarter, the company’s stock was listed on the Canadian Stock Exchange under the ticker “TRUL.”

Trulieve’s latest developments

Trulieve is a vertically integrated cannabis company with 21 dispensaries in Florida. Trulieve Cannabis announced on November 8 that the company had entered agreements to acquire 100% of Life Essence and 100% of Leef Industries. Both these acquisitions are expected to help Trulieve to expand its territory beyond Florida. Life Essence is a vertically integrated cannabis company with a presence at multiple locations under development in Massachusetts. Leef Industries is a licensed medical and adult-use cannabis dispensary in Palm Springs, California.

The Horizons Marijuana Life Sciences Index ETF (HMMJ) holds 11.8% of its total investments in Tilray (TLRY), 0.5% in WeedMD (WMD) (WDDMF), and 1.0% in Vivo Cannabis (VVCIF).

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