Trulieve

What Trulieve does

Trulieve Cannabis Corp. is a vertically integrated multi-state cannabis operator (MSO) headquartered in Quincy, Florida, that manufactures and distributes medical cannabis products through 240+ company-owned dispensaries across nine U.S. states (Florida, Arizona, Pennsylvania, Ohio, Georgia, West Virginia, Maryland, Connecticut, and California). The company operates approximately 3.5 million square feet of DEA-registered production capacity supporting in-house cultivation, manufacturing, and lab testing, with a portfolio of proprietary house brands (Modern Flower, Cultivar, Roll One, Sweet Talk, Co2lors, Momenta, Alchemy, TruClear) alongside exclusive partner brands (Khalifa Kush, Alien Labs, Connected Cannabis, Binske, Seed Junky). Trulieve controls roughly 35% of Florida's medical marijuana market, the largest share among U.S. MSOs.

The company generates revenue primarily through direct retail sales of cannabis products (flower, concentrates, vapes, edibles, oral products, topicals) via company-owned dispensaries, supplemented by online ordering, in-store pickup, and $15 home delivery in Florida. Pricing is hybrid, combining retail transaction pricing with a four-tier loyalty program (Tru-Member through Tru-Icon, requiring up to $4,750+ annual spend) and stackable discount programs targeting veterans (20–30%), seniors, new patients, SNAP recipients, and industry employees. Distribution follows a hub-and-spoke model with Florida, Arizona, and Pennsylvania as primary markets and an expansion pipeline into Texas and Georgia. Following the April 2026 rescheduling of medical marijuana to Schedule III, Trulieve became the first U.S. cannabis company to list on the NYSE (June 2026) under ticker TRLV, registered 206 dispensaries and 3.5M sq ft of production capacity with the DEA, and is pursuing redomiciliation from British Columbia to Delaware. FY2025 revenue was approximately $1.2 billion with 60% gross margin and record $427 million adjusted EBITDA (36% margin), against a backdrop of GAAP net loss driven by Section 280E-era tax burden.

Name

Trulieve

Legal name

Trulieve Cannabis Corp.

Website

https://trulieve.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Trulieve is a vertically integrated multi-state cannabis operator that manufactures and retails medical cannabis through 240+ dispensaries across 9 U.S. states, serving patients, veterans, and seniors with proprietary house brands and exclusive partner brands.

Ownership category

akta.pro rank

Product category

Medical Cannabis Retail & Cultivation

NAICS

Health and Personal Care Retailers (456)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Medical Cannabis Dispensaries (CRANAFAB)

akta.pro secondary industries

Adult-Use (Recreational) Cannabis Delivery & Online Ordering (CRANAGAH), Cannabis Online Ordering for Delivery (Marketplace/Aggregator) (CRANAGAD)

Keywords

• Medical cannabis retail
• Cannabis cultivation manufacturing
• Multi-state cannabis operator
• Cannabis dispensary network
• Pharmaceutical cannabis products

Headquarters

HQ city

Quincy

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Cannabis Retail Sales: Revenue generated from direct retail sales of cannabis products including flower, concentrates, vapes, edibles, oral products, and topicals through company-owned dispensaries across multiple states. The company operates 240+ dispensaries and generated approximately $1.2 billion in annual revenue in 2025.
2. Cultivation and Production: Revenue from vertically integrated cultivation and manufacturing operations serving retail dispensaries, including proprietary brand products sold exclusively at Trulieve locations.
3. Brand Licensing and Partnerships: Revenue from partner brands (Khalifa Kush, Alien Labs, Connected Cannabis, etc.) sold exclusively at Trulieve locations in certain markets.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Trulieve is a vertically integrated multi-state cannabis operator that cultivates, manufactures, and retails medical and adult-use cannabis products—including flower, concentrates, vapes, edibles, oral products, and topicals—through 240+ company-owned dispensaries across 9 U.S. states. The company sells its own proprietary house-brand products (Modern Flower, Cultivar, Roll One, Sweet Talk, Co2lors, Momenta, Alchemy, TruClear) and exclusive partner brands (Khalifa Kush, Alien Labs, Connected Cannabis), complemented by online ordering, in-store pickup, Florida home delivery, and a tiered rewards loyalty program.

Product overview

Trulieve is a vertically integrated multi-state cannabis operator offering medical cannabis through a network of 241 dispensaries across nine U.S. states. The company's product portfolio includes proprietary house brands (Modern Flower, Cultivar Collection, Roll One, Sweet Talk, Co2lors, Momenta, Alchemy) spanning flower, concentrates, vapes, edibles, and oral products, alongside partner brand offerings (AlienLabs, Khalifa Kush, Connected Cannabis, and others). Trulieve operates a mobile app for Florida patients enabling online ordering, pickup, and rewards management, supported by a tiered loyalty program (Trulieve Rewards) with four membership tiers. The company also provides home delivery services, patient discount programs (veteran, senior, SNAP, industry), and sustainability initiatives like the TruRecycle packaging recycling program.

Differentiator

Problem solved

Functional benefit

Brands

• Modern Flower: House cannabis flower brand with terpene-focused product selection
• Roll One
• Cultivar
• Sweet Talk
• Co2lors
• Momenta
• Alchemy
• TruClear

Products and services

• Trulieve House Brands Cannabis Products Trulieve's portfolio of proprietary in-house cannabis brands including Modern Flower (terpene-focused flower), Cultivar (premium flower), Roll One (value flower, pre-rolls, and concentrates), Sweet Talk (edibles), Co2lors (CO2 oil extracts and vapes), Momenta (balanced experiences), Alchemy (vapes), and TruClear (concentrate syringes and extracts), sold at all Trulieve dispensaries for medical and adult-use cannabis consumers.
• Partner Brand Cannabis Products Cannabis products from exclusive third-party brand partners sold exclusively at Trulieve dispensary locations, including Alien Labs, Khalifa Kush, Connected Cannabis, Binske, Black Tuna, Sunshine Cannabis, Seed Junky, and Redemption Cannabis, plus Dabstract live-resin extracts launched in Maryland in March 2026.
• Trulieve Dispensary Network (Retail Dispensary Service) Direct-to-consumer retail dispensary service across 240+ Trulieve-owned locations in 9 U.S. states (Arizona 22, Connecticut 1, Florida 170, Georgia 6, Maryland 3, Ohio 8, Pennsylvania 21, West Virginia 10, plus California), serving medical cannabis patients and adult-use customers.
• Trulieve Florida Mobile App iOS mobile application for Florida patients enabling product browsing, online ordering, in-store pickup scheduling, rewards point tracking, daily deal discovery, and medical cannabis allotment management.
• Trulieve Rewards Loyalty Program Tiered customer loyalty program with four membership tiers (Tru-Member, Tru-Insider at $1,250+ annual spend, Tru-Elite at $2,750+ annual spend, Tru-Icon at $4,750+ annual spend) offering points-per-dollar spending, escalating redemption values, birthday bonuses, refer-a-friend incentives, and tier-based exclusive perks.
• Florida Home Delivery Service Home delivery of medical cannabis products to registered patients in Florida for a $15 per-order delivery fee, bringing products directly to patient doorsteps.
• Patient Discount Programs Stackable discount programs for medical cannabis patients including new patient discounts (25–60% off first purchase), veteran discounts (20–30%), senior/wisdom discounts (10%), industry employee discounts (15–25%), SNAP recipient discounts (10%), and medical pediatric discounts (10–20%).
• TruRecycle Packaging Recycling Program Cannabis packaging recycling program allowing patients to return eligible Trulieve-branded containers for responsible recycling, having diverted over 85,000 pounds of packaging from landfills since launching in Florida in 2021.

Quantifiable outcome

• $1.2 billion annual revenue
• +6 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and major.

• Dabstract (UCG Inc.)minorStrategic or Co-development Partner · 23 March 2026Strategic partnership launching Dabstract's award-winning Live Resin High Terpene Extract products in Maryland through Trulieve dispensaries. Products include All-in-One Devices and Universal Vape Cartridges available at select dispensaries statewide for adult-use and medical consumers.
• Redemption CannabisminorStrategic or Co-development Partner · 11 July 2025Partnership to launch Redemption Cannabis products at Trulieve dispensaries in West Virginia. Redemption, founded by Ryan Basore who served federal prison time on cannabis-related charges, reinvests a portion of every sale to support individuals and families impacted by cannabis prohibition laws.
• Smart & Safe FloridamajorGTM or Marketing PartnerPolitical committee heavily funded by Trulieve attempting to place recreational marijuana constitutional amendment on Florida ballot. Trulieve spent over $200 million on the campaign which failed to meet signature requirements. Campaign pursued legal challenges to Florida's signature verification processes.
• Blank Rome LLPminorImplementation/ SI/ Consulting PartnerLaw firm providing M&A, securities, and cannabis industry legal counsel. Sean Coyle served as lead U.S. counsel for Trulieve's $2.1 billion acquisition of Harvest Health & Recreation. Firm expanded West Palm Beach office with cannabis practice group hires.
• U.S. Drug Enforcement Administration (DEA)majorOthersFollowing April 2026 rescheduling of medical marijuana to Schedule III, Trulieve filed applications to register 206 state-licensed medical marijuana retail locations with the DEA under the expedited registration pathway.
• Curaleaf HoldingsminorOthersFellow multi-state cannabis operator. Both companies named as attractive plays in rescheduling momentum by Canaccord Genuity analyst Kenric Tyghe. Curaleaf and Trulieve ranked top two in 2026 Cannabis AI Visibility Index with combined citations.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/trulieve
• Facebookfacebook.com/Trulieve
• LinkedInlinkedin.com/company/trulieve
• Instagraminstagram.com/trulieve?igsh=MWU5cGJrbWVxbzhhag==

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 records

Funding overview

Funding rounds9 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trulieve