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Medical Marijuana Giant Trulieve, Backer Of Florida’s Recreational Cannabis Ballot, Narrows Loss, Reports Uptick In Q1 Revenue, Gross Profit

By Jelena Martinovic
May 9, 8:49 AM
Trulieve Cannabis Corp. announced on Thursday its first quarter results for the three months ended March 31, 2024. The Tallahassee, Florida-based medical cannabis giant reported revenue of $298 million for the first quarter of fiscal 2024, representing an increase of 4% sequentially and year-over-year, with 96% of revenue from retail sales.

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Here’s What Made December Stand Out: These Two States Raked In Hundreds Of Thousands In Cannabis Sales

By Jelena Martinovic
January 17, 2:19 PM
Maryland residents spent a record $96.5m on cannabis products in December, according to data from the Maryland Cannabis Administration (MCA). Of that total, $61.5m came from recreational cannabis sales, while medical sales totaled around $35m for the month. Maryland has seen booming sales since the launch of the recreational market last summer. At the time, existing cannabis companies in the state switched to adult-use shops by paying an 8% one-time fee of their 2022 dispensary revenue not exceeding $2m. Licensed stores took in $20.9m in the first week of legal sales. In total, Maryland recorded $787.5m in sales of legal marijuana products in 2023. Over the same period, Rhode Islanders spent more than $107.8m on combined cannabis sales.

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Third Time Was Not The Charm: Alabama Judge Blocks Medical Marijuana Permits

By Jelena Martinovic
January 5, 11:01 AM
The Alabama Medical Cannabis Commission (AMCC) has had a third attempt to allocate medical cannabis licences put on hold by a Montgomery Court judge. The ruling was in response to allegations by plaintiff groups that the AMCC had used an improper voting process. It is thought the group will be able to demonstrate misconduct on the AMCC's part. The restraining order put an end to the issuing of licences across the board, putting an end to the so-called "integrated facility licences" through which operators would have gained an opportunity for vertical integration. Last week the same judge temporarily stopped the issuance of licences in the dispensary category.

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