Many of the biggest cannabis companies are struggling to stay relevant amidst mountains of debt and slow to grow revenue. Bucking that trend is Trulieve Cannabis Corp. (TCNNF) which continues to build a solid foundation and is one of the few in the industry that is consistently profitable. Trulieve is also putting up some monster revenue numbers and reiterated its guidance for revenue of between $380 million and $400 million for the year.
For example, when the company reported its first-quarter earnings in May, its revenue increased 21% sequentially to $96 million versus $79 million in the fourth quarter. This beat the Yahoo! Finance average estimate for revenue of $90 million for the quarter.