Trulieve Tightens Its Financial Game, Wipes Out $368M Debt In This Balance-Sheet Move

Florida-based cannabis giant Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) has completed its previously announced redemption of all $368 million principal amount of its outstanding 8.0% senior secured notes due 2026.

The company said on Monday it used roughly $373 million of cash, including the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date of Dec. 5, 2025.

The notes stopped trading on the Canadian Securities Exchange under the symbol “TRUL.NT.U” at the close of business on Dec. 5, 2025, and were officially delisted the same day.

Trulieve’s third-quarter revenue totaled $288 million, up 1% year-over-year, with 94% of revenue from retail sales.

In addition, the company reported a 2% year-over-year drop in gross profit to $170 million for the quarter, a 55% improvement in net loss to $27 million and positive adjusted EBITDA of $103 million versus $96 million a year earlier.

Trulieve generated cash flow from operations of $77 million and free cash flow of $64 million for the period.

Kim Rivers, Trulieve’s CEO, said “significant flexibility in our core business and strong cash generation continue to set us apart in a dynamic market.”

During a recent appearance at IgniteIt’s Cannabis Capital and Policy Summit in Washington, D.C., emphasized that building a “great core business” means “setting yourself up for optionality.”