ACQUISITION |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| ACQUISITION | NOTE 3. ACQUISITION Connected Intellectual Property License Rights On September 25, 2026, the Company entered into a license agreement ("License Agreement") with Connected International, Inc. ("Connected"), which includes, among other things, exclusive rights to use genetics, trademarks and proprietary know-how to cultivate, manufacture, market, and commercialize Alien Labs and Connected branded products in Florida and Texas. The licenses granted are perpetual, irrevocable, royalty-free and fully paid-up, subject to the terms of the License Agreement. The License Agreement provides Trulieve with a right of first refusal for exclusive licensing rights in additional markets. The Company evaluated the transaction under ASC 805 Business Combinations, and determined that the acquired rights did not meet the definition of a business. Accordingly, the transaction was accounted for as an asset acquisition. The total acquisition cost of $40.4 million, consisting of the $40.0 million license fee and approximately $0.4 million of qualifying direct transaction costs, was recognized as an indefinite-lived trademark intangible asset representing the acquired intellectual property license rights. See Note 7. Intangible Assets, for additional information. The asset is included in intangible assets, net on the condensed consolidated balance sheets.
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