Trulieve expands Florida reach; strong customer retention, positive FY20 estimates

Trulieve Cannabis (OTCQX:TCNNF -1.1%) opened its latest Florida dispensary; this will be the third dispensary in Tampa (total 60 in U.S.) and will directly support patients throughout Hillsborough County.

In its latest Investor Presentation, the company reported 366.1K dedicated and growing Florida consumer base as of August 31, 2020; ~5.1K is the four-week average of new Floridian patients in August 2020.

Q2 customer retention rate stood at 76%; active patients visited 2.8/month with a basket average of $125 per visit.

For 2Q20 and 2Q19, 26 stores generated a same store sales increase of 30%; served 7.3K patients daily in Florida.

A quick look at strong growth, margin profile and FY20 estimates:

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