Filing Flows › Trulieve Cannabis (TRLV) › Q2 2026
Trulieve Cannabis (TRLV) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Trulieve Cannabis (TRLV) reported revenue of $271M for the second quarter 2026 (Q2 2026), -10% from a year earlier and -6% from the quarter before. Operating margin was -136.7%, net loss $406M (149.9% of revenue).
Trulieve Cannabis, Q2 2026: revenue $271M (-10% year over year), operating margin -136.7%, net loss $406M, operating cash flow $53.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $271M | -6% | -10% |
| Operating profit | −$371M | -1137% | -804% |
| Net earnings | −$406M | -16977% | — |
| Operating cash flow | $53.1M | -5% | -38% |
| Free cash flow | $32.1M | -24% | -54% |
What changed
Revenue was $271.0M in Q2 2026, down 10% year over year and down 6% from the previous quarter. Retail was the largest line at 94% of revenue. Retail lost $29.0M year over year (down 10%), 93% of the total change.
Gross margin was 59.9%, down 0.7 points from Q2 2025. Operating costs exceeded revenue by $370.5M, an operating margin of -136.7%. Operating expenses grew 309% against a revenue fall of 10%. The fastest-growing cost line was Other operating costs (+1377%). The quarter ended with a net loss of $406.1M, after a profit of $2.3M the previous quarter.
Operating cash flow was $53.1M (down 38% year over year). Non-cash charges added back $25.7M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items added $426.6M. Capital expenditures of $21.0M left free cash flow of $32.1M.
Questions
What was Trulieve Cannabis' revenue in the second quarter 2026?
Trulieve Cannabis (TRLV) reported revenue of $271M for the second quarter 2026 (Q2 2026), -10% from a year earlier and -6% from the quarter before.
Was Trulieve Cannabis profitable in the second quarter 2026?
Operating loss was $371M (-136.7% of revenue) and net loss $406M.
Source: Trulieve Cannabis 10-Q on SEC EDGAR.