Filing Flows › Trulieve Cannabis (TRLV) › Q2 2026 › vs Q1 2026
Trulieve Cannabis (TRLV) Q2 2026 vs Q1 2026 (quarter over quarter)
Trulieve Cannabis's revenue fell $15.8M (-6%) from $287M in Q1 2026 to $271M in Q2 2026. The biggest changes: Retail −$10.2M (-4%); Wholesale and other −$5.6M (-26%).
Trulieve Cannabis, Q2 2026: revenue $271M (-10% year over year), operating margin -136.7%, net loss $406M, operating cash flow $53.1M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 11.9% | 14.7% | -2.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Retail | $255M | $265M | −$10.2M | -4% |
| Wholesale and other | $16.0M | $21.6M | −$5.6M | -26% |
| Revenue | $271M | $287M | −$15.8M | -6% |
| Net loss | $406M | −$2.3M | $408M | — |
| Costs & expenses | $677M | $287M | $390M | +136% |
| Operating costs | $641M | $251M | $390M | +156% |
| Interest & other, net | $12.9M | $11.6M | $1.3M | +11% |
| Income tax | $22.0M | $21.9M | $108K | +0.5% |
| Cost of revenue | $109M | $117M | −$8.0M | -7% |
| SG&A | $102M | $105M | −$3.1M | -3% |
| Other operating costs | $431M | $29.5M | $402M | 15× |
| Operating cash sources | $459M | $53.4M | $406M | +760% |
| Depreciation & amortization | $25.7M | $29.7M | −$4.0M | -14% |
| Share-based compensation | $6.9M | $4.1M | $2.8M | +67% |
| Working capital & other | $427M | $19.5M | $407M | 22× |
| Net loss absorbed | $406M | −$2.3M | $408M | — |
| Operating cash flow | $53.1M | $55.7M | −$2.6M | -5% |
| Free cash flow (OCF − capex) | $32.1M | $42.2M | −$10.1M | -24% |
| Capital expenditures | $21.0M | $13.5M | $7.5M | +56% |
Questions
How much did Trulieve Cannabis's revenue grow quarter over quarter in Q2 2026?
Trulieve Cannabis's revenue fell $15.8M (-6%) from $287M in Q1 2026 to $271M in Q2 2026.
What drove Trulieve Cannabis's revenue change in Q2 2026?
Retail −$10.2M (-4%); Wholesale and other −$5.6M (-26%).