Filing Flows › Trulieve Cannabis (TRLV) › Q2 2026 › vs Q2 2025
Trulieve Cannabis (TRLV) Q2 2026 vs Q2 2025 (year over year)
Trulieve Cannabis's revenue fell $31.1M (-10%) from $302M in Q2 2025 to $271M in Q2 2026. The biggest changes: Retail −$29.0M (-10%); Wholesale and other −$2.2M (-12%).
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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 11.9% | 23.2% | -11.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Retail | $255M | $284M | −$29.0M | -10% |
| Wholesale and other | $16.0M | $18.2M | −$2.2M | -12% |
| Revenue | $271M | $302M | −$31.1M | -10% |
| Net loss | $406M | $16.1M | $390M | 25× |
| Costs & expenses | $677M | $318M | $359M | +113% |
| Operating costs | $641M | $249M | $392M | +157% |
| Interest & other, net | $12.9M | $14.0M | −$1.2M | -8% |
| Income tax | $22.0M | $54.7M | −$32.8M | -60% |
| Cost of revenue | $109M | $119M | −$10.5M | -9% |
| SG&A | $102M | $101M | $651K | +0.6% |
| Other operating costs | $431M | $29.2M | $402M | 15× |
| Operating cash sources | $459M | $102M | $357M | +349% |
| Depreciation & amortization | $25.7M | $29.4M | −$3.7M | -13% |
| Share-based compensation | $6.9M | $6.8M | $151K | +2% |
| Working capital & other | $427M | $66.0M | $361M | +546% |
| Net loss absorbed | $406M | $16.1M | $390M | 25× |
| Operating cash flow | $53.1M | $86.1M | −$33.0M | -38% |
| Free cash flow (OCF − capex) | $32.1M | $70.1M | −$38.0M | -54% |
| Capital expenditures | $21.0M | $16.0M | $5.0M | +31% |
Questions
How much did Trulieve Cannabis's revenue grow year over year in Q2 2026?
Trulieve Cannabis's revenue fell $31.1M (-10%) from $302M in Q2 2025 to $271M in Q2 2026.
What drove Trulieve Cannabis's revenue change in Q2 2026?
Retail −$29.0M (-10%); Wholesale and other −$2.2M (-12%).