Trulieve Cannabis (TRLV) Operating Expenses (2020 - 2026)
Trulieve Cannabis (TRLV) posted Operating Expenses of $532.8 million for Q2 2026, up 296.57% on a QoQ basis from $134.4 million in Q1 2026, and up 308.94% year-over-year from $130.3 million in Q2 2025.
Analysis
Trulieve Cannabis (TRLV) Operating Expenses (2020 - 2026) Analysis & Trends
Trulieve Cannabis has reported Operating Expenses for 7 years, with the latest figure at $532.8 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 308.94% year-over-year to $532.8 million in Q2 2026; TTM through Jun 2026 was $954.7 million, a 49.5% increase from a year earlier, with the FY2025 full-year figure at $567.7 million, down 8.14% from the prior year.
- Operating Expenses was $532.8 million for Q2 2026 at Trulieve Cannabis, up from $134.4 million in the prior quarter.
- The five-year high for Operating Expenses was $532.8 million in Q2 2026, with the low at $119.6 million in Q3 2023.
- Average Operating Expenses over 5 years is $183.6 million, with a median of $145.9 million recorded in 2022.
- The sharpest annual moves came in 2024 and 2026: Operating Expenses plunged 69.53% in 2024, then soared 308.94% in 2026.
- Over 5 years, Operating Expenses stood at $151.9 million in 2022, then fell by 17.93% to $124.7 million in 2023, then jumped by 48.96% to $185.7 million in 2024, then slipped by 13.91% to $159.9 million in 2025, then surged by 233.28% to $532.8 million in 2026.
- The last three Operating Expenses figures came in at $532.8 million (Q2 2026), $134.4 million (Q1 2026), and $159.9 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Curaleaf Holdings | 2.68 Bn | 2.58 Bn | 169.91 Mn | 165.69 Mn |
| 2 | Trulieve Cannabis | 2.31 Bn | 1.98 Bn | 162.29 Mn | 532.81 Mn |
| 3 | Green Thumb Industries | 1.72 Bn | 1.43 Bn | 137.87 Mn | 117.91 Mn |
| 4 | Cronos | 1.18 Bn | 383.59 Mn | 28.45 Mn | 21.05 Mn |
| 5 | Glass House Brands | 673.51 Mn | 654.96 Mn | 15.77 Mn | 18.76 Mn |
| 6 | Vireo Growth | 550.06 Mn | 407.76 Mn | 95.30 Mn | 101.60 Mn |
| 7 | Tilray Brands | 472.92 Mn | 238.29 Mn | 90.52 Mn | 106.98 Mn |
| 8 | Verano Holdings | 438.82 Mn | 353.62 Mn | 99.70 Mn | 96.56 Mn |
| 9 | Canopy Growth | 405.75 Mn | 158.74 Mn | 16.08 Mn | 32.06 Mn |
| 10 | Sndl | 365.15 Mn | 232.60 Mn | 40.74 Mn | 31.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 532.81 Mn |
| Mar 31, 2026 | 134.36 Mn |
| Dec 31, 2025 | 159.87 Mn |
| Sep 30, 2025 | 127.62 Mn |
| Jun 30, 2025 | 130.29 Mn |
| Mar 31, 2025 | 149.89 Mn |
| Dec 31, 2024 | 185.71 Mn |
| Sep 30, 2024 | 172.66 Mn |
| Jun 30, 2024 | 131.89 Mn |
| Mar 31, 2024 | 127.70 Mn |
| Dec 31, 2023 | 124.67 Mn |
| Sep 30, 2023 | 119.60 Mn |
| Jun 30, 2023 | 432.93 Mn |
| Mar 31, 2023 | 133.04 Mn |
| Dec 31, 2022 | 151.90 Mn |
| Sep 30, 2022 | 196.05 Mn |
| Jun 30, 2022 | 141.90 Mn |
| Mar 31, 2022 | 151.28 Mn |
| Dec 31, 2021 | 143.97 Mn |
| Sep 30, 2021 | 87.67 Mn |