Thank Thanks you joining everyone. so for Lynn us. good and much morning
you are to We very our all a financial excited and with business results share provide update today.
take my our and financial questions. will remarks, we your discuss quarter second results happy be then, Mohan to Following will
had revenues on which happy for was and strategic quarter, to night, $XX.X Trulieve. revenue performance on we're a basis, our for Last XX% we an tracking quarter-to-quarter sequential I'm this increase of Trulieve strong of and again was very the record producing second million our results. Now with quarter announced another how plans. against quarter,
course, Of story. Trulieve, revenue at was only the half
in $XX Our second EBITDA compared million XX% was quarter $XX.X XX% the QX XXXX. million, adjusted or in or to
for profitability leading apart sets is Trulieve. differentiator industry an important Our and us
national presence. the future and The our half we setting focused progress strengthening made and into support first strong our building Trulieve and to growth, on half business, foundation first are of explosive positioned was a substantial on now XXXX infrastructure the in for well efficiencies the of year growth.
walk the me of Let through you highlights. some
establish our area requirement is which us gaining to for greenhouses. with compressions, price world a to acreage combat efficiencies has of Vertical ways the Greenhouse First, scale focus share have our us I to through finally footprint. full indoor been Florida, for and for we to integration in excited An our looked am us leads and data. leverage experimental future
additional to our generally to These to ways of primarily shift greenhouses, facilities experimentation provide premium as and have indoor-grow biomass, our efficient alternative expand and will capacity oil feet and square cost-effective low on expand also into speak allow XXX,XXX mentioned segments our for the us shifts. to a cultivation. focus increased greenhouses we highly to of, established flower market scale is addition cultivation In cost we which greenhouse large
As significant amount capacity. have to a we adding our such, and been cultivation
we expected capacity which kilograms. cultivation As all footprint have cultivation approximately in wanted to completed, worth indoor Combined, XX,XXX million will square when under with before bring of biomass X,XXX,XXX just completion XX,XXX we sites construction said, kilograms. Plus, have had Trulieve have and discussing broadly, square we to the XX,XXX total feet QX, feet and we of more data with X.X biomass now of years' grow capacity feet a our active during square that. over across
medical In of we recreational keep and Florida. expected ahead marijuana We've of XX nearly of already there. expansion four Jefferson acres state. This the QX, indoor County, out continuous also cultivation phase X future we Phase build importantly, wholesaling supply opportunities current will construction to as Florida's in announced future future in started and plan allow demand the and our purchase both
For the have state-of-the-art capacity XXXX, been critical production significantly, allows us of and facility. is GMP Trulieve in keep our This increases processing of transformation certified ahead also to our first another for demand. half we operating as it
underway in quarter had to and output increase product facilities automation our innovation. second the launched a During our number we efficiencies, initiatives of further or
platform, investing automation in initiative by the planning enterprise undertook we initiatives, addition software major resourced In transformative SAP. to an a
anyone it integration, For has onboard. there out time fully you been understand takes and to commitment who operational SAP the through
already completed recently are Our SAP seeing we and customized implementation, analytical benefits. operational and this teams
interface experience, positive site Web to example, for Our online shopping overwhelming allows customers enhanced feedback. SAP, to have garnering an
store inventory XX% segment the These continue the SAP online allow imperative we With sales our a build to efficiently. and more to us scale continue Greenhouse ordering, of added implementation, efficiency the capacity, strong grow this it such infrastructure is initiatives, as automation for best-in-class experiences. visibility that business. to projects, of patient the throughput enhancing driven at efficiencies, our thereby through addition, to level greatly In enhanced will
we our us do and support will national organization. dedicated our over let operations and bench key discipline and And capital are a growth the best so class of focused In seasoned on which strategic the to and view level, The initiatives to level in as initiatives a bring for addition, assets professionalism in also team, team. of the intelligently. our investing to look add at require employees, as scale these the implementation we strong, on that we of human this and XXXX we With into in plans strength. plan a invest continue recruit to foundation
an as experience, Peter grow business Healey joining our provide insights brings Peter impressive background with capital as our to will Board an demonstrates accelerated that fresh and pace. commitment, financing at continues legal Directors and of market
In leadership add managers addition, expansion to national we prepare have the efforts. for continued to team
to and board scale our add as business continue ahead, Looking geographic up we footprint. bench grow both and our we and corporate strength lines our will product
investment now capital we our and are of capitalized These plans. growth areas need execute course, to of well on and
has Operating company the us team a Our ground reinvest allows to hit our profitable the in business. continually running only earlier and increased. year as pace this
to However, and we rapidly would capital evolving quickly more in faster determined that a be increasing industry to end path goal. our agile allow provide our our us
dilution financial of in July, Holyoke, we completed public industry. sold debt public aggregate debt first in $XX that with property we record, pure offering strong offering a announced we was in on build amount our In back minimizing Massachusetts, June, million, principal the an the which execute a and out based In raising cannabis business place. Massachusetts, that while lease the with our plan, us and shareholders, true happy am public lease solidly the the in favorable I capital a debt on for Win-win. say plan to back offering provide to our
extension In of Company's addition, value in We confidence mind, The in the was with agreement. will the strategy. a release believe voluntary announced the lock-up our and of show market value. in last shares month liquidity increase long-term the of XXXX, create we shareholder measured voluntary extension summer allows a the thoughtful extension and orderly to up which lock shareholder approach this also and to for
we why helps us we be decisions. customer in in base sets in is where enter. approach passionate going? will just best we differentiates and which don't believe the capital states growth, are Trulievers', the apart dedicated customer fund have and us place leader business to class form that have infrastructure the we with So, customers market, us a experience We we and a Trulieve's to in
and expect initiatives national will efficiency for new this the our company a on And effectively that level. build on We diversification are importantly, a allow customers. compete have to advantage, our executing will wide we positive us to impact initiatives enterprise across sweeping intelligent
in-house our to we to a focus of which business tier, to three for the national lines, and retail as the one shared re-establish we expand anticipation market under for Currently, to new brand's and how beyond re-segment and few profitable how the with sold. grow as quarters, Florida. time last our on product brand Trulieve had go expansion ideal With standard are all products organically we our strategy, this well wholesale, of approach a and Over potential in how's stores. re-merchandise diversify our intend is brand the Trulieve
segmentation initiative on the markets. underway, clear customer product for currently along Our refresh based segmentation a packaging product is new brand addressable to for with allow
just and highlight to completed product a allow partnership new In our stores products. to segments addition, space proper refresh display offering brand for
level. that industry, Speaking leading selectively of some the in partnered of to with and plan local partners, vision the a continue has national Trulieve on brands brand cannabis we and
our in our Loves products partnerships such innovative able with exciting As we're leaders, view part market Blue favorite, We've brand competitive and these industry national and the Bhang, partnerships three-tier as approach, Binske, customer Oven, as differentiator and of bring we brands. with partnerships are We River. to shelf. building to another established new as local SLANG,
connect in exciting the forward exceptional an product deliver in their For vape experience. Florida. Building Trulieve. leading edition, carts extension Open strategic to brand, SLANG name, first the on we July, a and with brands consistently we more O.penVAPE Florida announced be is and in we Trulieve RESERVE our example, were under an patients of quality of here service, aim to industry to RESERVE, offered which an and with the partnership customer SLANG launching product popular early look
in loyalty of past, track boomerang on our market. based an the to we As covered size customer use internal patients our in report sample
those With and dispensaries, just our who quite suggesting on respectively. and product are of of who higher XX% to north to the trending These X ability just strong than and Florida. in boomerang traders, Truliever's our reflects maintain remain and becoming to with lead Our July, Truliever's report. are in are XX%, live brand more hop metrics based are different our around numbers X% those which strength dropping last hoppers points patients our
succeed. to to will we multi-state operator. both setup our smart mixture other leading compelling a where in-stores us to disciplined vision deliver a graph to and a organic our product against instead organic all placed market. and service has and business company and aligns inorganic believe the range on a approach. growth execute makes the of foundation We see of be online a highest quality, skews leveraging potential maintaining This A solid the plans players growth, most importance strategic in expansion Also, strategic customer need and of with of our on targeting future strength and diverse partners sense mix states M&A competitive share approach to we land and strong
aggregator. As we say, a multi-state a multi-state not are we operator,
aspect to Florida We an our cover basis In dominant hold medical with mission. Trulieve experience our time. forward. where our maintain our impressive Florida, mandate and and a optimal believe are state we customer this market patient now our Delivering on expansion the are of target we advantage position at foundational growing Florida. I'll of home to part first-mover of cannabis customer is share. starting moving maintain one large and vibrant awareness or patient we for a with a is plans, the state-by-state intend ensuring a
XX% of XXX,XXX the explosive The to patient comes we count flower, the patients of as patients attention at the to base amazing and XX,XXX With visited reflects the increasing the growth a sizeable patient second to the service make. patients quarter, second in these store and end the of Florida ways an count of ahead for our our smokable with ever patients additional dispensary, increasing Trulieve In result the demand. investments our need to new patient patient Trulieve the quarter. Florida in keep
to open with We by end. this we in today Florida year Clearwater And currently XX open stores morning, more have approval store in tomorrow. just planned got XX another Beach
to year. We making accelerating we'll the be are store our our rollout, the of on progress pleased build dispensary second half out be new in and
first quarter our flower. was smokable quarter second The with full
approved to was sales of our state. XX% sale XX% executed Flower in are flower today compared March may Florida, flower nearly product now you first As mix smokable call. in QX reported as the recall, in on of our and the Trulieve earnings approximately smokable
needs with success and our flower quick meet to ability demonstrates manner. efficient in Our evolving patient a
month report, was is trailing discount a nearly Trulieve and achieved flower the our need of to market an for basis, in dispensed nearest flowers sold On into average the deep XX% state. the one periods. share the reporting according This sales over three without OMMU competitor, times leading of the
the For maintained of the market estimated market may dominant we hold and state. second oil share with sales, an sold blend XX% milligrams and our quarter, flower share in overall a in
and that believe stores XXXX, from will the mentioned and soon branded edibles, products ready we rules. earlier expand look patient as geared are to as as launched Trulieve the In up well into brand be addition, DoH edibles to partners releases we in corresponding bringing fully for our We access. forward the edibles of as introduction
Florida, Looking by medical for to use the requisite would of use a included market trigger optimistic within a Recently, ballot cautiously legalization state. beyond numbers XXXX November recent surrounding are the question legalize the was adult be of the to review that language cannabis. the adult achieved the developments in in we signatures in potential
is next the maintain the to the or high, successfully on. our we leadership question delivering Florida our and on customer ballot and by will intend get are expansion, experience hold through are position confident future Trulievers count While by hurdles encouraged the to initiative. in lead expect placed continue the We to we
included announced Now, marijuana the Healing a a of portion we of only turning May, are very translating propensity profitability. for revenue place, in Connecticut. experiences, entrenched Connecticut. very into medical for acquisition quarter, pleased to Corner, customer We see a delivering continued in The Healing Bristol, In numbers we customer performance the an the the with and dispensary Corner base. but Connecticut team the the great loyal in team were
June, under, accepted Review will increased and conditions for XX patients which the new to growth and qualifying conditions total it for for to Regulation Committee. added XX program, XX In five state. into by could Connecticut's patient bring were medical and growing Connecticut's approved treatment Once in qualifying the adults marijuana translate
We the excited in a have marijuana the likelihood could upside also XXXX. reality adult will in In can revenue Connecticut property family, that have short, part believe We're hopeful be converted forward and are the happy use and recreational into dispensary team and we're extremely there's Healing to space. adjacent high become that additional as for a potential bring, to Corner Trulieve of future. the looking
we Industries XX% additional our ownership total of the bringing in California, an Leef of of recently XX% the almost June, Company, to acquired Inc., In outstanding there. ownership
for direction. cross Springs the a R&D wide Palm state evaluate located is Our location our and to optimally section exploring of
We continue to driving for identify market. and this explore options
for developing potential partnerships. We progress search our Holyoke in with advancing made facility dispensaries, Massachusetts. Trulieve QX Turning now to significant activities our and cultivation since and
build cultivation facilities we early of and earlier, functional XXXX in XXXX Hampton dispensaries in wholesale to start processing progress Massachusetts, place made and Holyoke. cultivation financing building in the by the order inventory in production plan participate North And have in the We thriving location. in for and beyond. to mentioned and market now planned the online with for out have our we dispensing facility As
of number economic a with working is Trulieve Also, empowerment applicants.
to applaud Massachusetts our a to diversity is have provide to core and ongoing efforts program empowerment true a company, within industry. help robust build thriving place is mentoring businesses a economic and our owned values the in accelerator the goal establish capital Our to as seed program. minority to we executive in Ensuring
just M&A end. lot four also the states in of to states goal pipeline a achieve underway there's we year activity In touched to of on, being our addition six by
interesting as Our us. and remains or and such, for target continually an adult team most And Many are important the evaluating that the states programs targeting debating northeast area the is strategic landscape. we use enacting markets. in
of values is delivering Geographic potential profitability critical to ensure M&A to high are also philosophy best potential key Trulieve profitability, dedicated growth opportunities the that reach to It experiences. with meet that and ensuring own or a customer acquisitions targets to the location accretive. standard the aside, and for M&A matter quickly it with relative combination exceptional is transactions is have we aligning markets. are in also these Trulieve ourselves company important
I'll now hand to Srinivasan Mohan? quarter the financial call Mohan our over to discuss second results.
