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- Irs Proposed Penalties Of $38.1m (new) — IRS issued Revenue Agent Reports in September 2025 proposing penalties for subsidiaries under audit; TRLV filed protests and believes penalties are without merit, but the amount is material and outcome uncertain.
Trulieve posts $406M net loss on Harvest deconsolidation; revenue falls 10% to $271M
Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read
Key Changes
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Net loss widened to $406.1M (Q2 2026) from $16.1M (Q2 2025). Operating income swung from $52.6M to -$370.5M.
MD&A: Deconsolidation Transaction verify on EDGAR → -
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Revenue fell 10.3% to $271.0M, primarily due to the Harvest deconsolidation removing mixed-use operations (AZ/CT/MD/OH, 34 dispensaries) from consolidated results for most of the quarter. Excluding deconsolidation, pricing pressure in mature markets offset Ohio growth through June 3.
MD&A: Revenue verify on EDGAR → -
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Federal rescheduling to Schedule III (April 2026) eliminated IRC Section 280E for medical operations; tax provision fell to $22.0M (13.5% of gross profit) from $54.7M (29.9%) in Q2 2025. Uncertain tax position liabilities decreased $70.2M in H1 2026.
MD&A: Provision for Income Taxes verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 19, 2026 · How we verify