GTBIF
Green Thumb Industries Inc.9.63
+1.23+14.7%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
2.23BP/E (TTM)
56.65Basic EPS (TTM)
0.17Dividend Yield
0%Recent Filings
8-K
GTI sells brands to Agrify
Green Thumb Industries sold intellectual property rights to brands like RYTHM and Beboe to Agrify for $50 million cash on August 27, 2025, while securing a perpetual license to continue using them via monthly fees tied to sales. The deal bolsters Agrify's portfolio, where Green Thumb holds a 35% stake and its CEO chairs. Yet Green Thumb extended a $45 million secured convertible note to Agrify at 10% interest, maturing February 2027. Smart cross-investment.
10-Q
Q2 FY2025 results
Green Thumb Industries posted Q2 revenue of $293.3M, up 5% year-over-year but flat quarter-over-quarter, with gross profit dipping to $146.3M (50% margin) from 54% amid price compression in mature markets. Operating income fell 27% y/y to $39.4M, pressured by 11% higher SG&A from new store openings and litigation costs, while net loss hit $0.6M or $(0.01) per diluted share—anti-dilutive effects excluded potential shares. YTD revenue climbed 3% to $572.8M, but operating income dropped 34% to $81.9M and diluted EPS to $0.03, reconciled against 239.1M weighted shares. Cash from operations reached $130.7M YTD, yielding $82.2M free cash flow (derived) after $48.8M capex; quarter-end cash stood at $176.9M with $250.0M total debt, including a $150M SOFR+5% facility maturing 2029 and ample revolver availability under compliant covenants. Acquired three Connecticut retail stores in June 2025 for $14.3M cash, adding $5.9M goodwill and $6.0M 15-year licenses. Sold incredibles IP to related party Agrify for $5.1M cash, booking $11.7M loss. Yet competition from illicit markets persists.
8-K
Q2 Revenue Up 4.7%
Green Thumb Industries reported Q2 2025 revenue of $293.3 million, up 4.7% year-over-year, driven by consumer packaged goods growth in New York and Ohio amid pricing pressures. Adjusted EBITDA hit $82.7 million, or 28.2% of revenue, while a $11.7 million asset sale loss flipped GAAP net income to a $0.65 million loss; operations generated $56 million in cash. The company repurchased 5.6 million shares for $24 million. Market share gains in key states signal resilience, yet federal illegality caps valuation.
8-K
Shareholder approvals boost incentives
Green Thumb Industries' shareholders approved amending the 2018 Share and Incentive Plan on June 11, 2025, boosting available shares from 10% to 15% of outstanding Subordinate Voting Shares. The vote passed with 249 million for and 15 million against, amid broker non-votes of 51 million. This expands equity incentive capacity. Shareholders also elected seven directors and ratified Baker Tilly as auditors.
10-Q
Q1 FY2025 results
Green Thumb Industries posted Q1 revenue of $279.5M, edging up 1% year-over-year yet flat quarter-over-quarter, buoyed by Ohio's adult-use launch and New York gains but tempered by price compression. Gross profit dipped to $143.3M with margins slipping to 51% from 53%, while operating income fell 40% to $42.5M amid a 36% surge in SG&A to $100.8M, largely from last year's one-time contingent consideration gain. Diluted EPS landed at $0.04 on 236.8M shares, down from $0.13, with the drop tied to higher stock-based comp and taxes under IRC Section 280E. Cash climbed to $210.6M, fueled by $74.2M operating cash flow minus $29.8M capex for a free cash flow of $44.4M (derived), against $252.4M debt including a $150M SOFR-linked facility at 9.32% maturing 2029; the company holds covenant headroom. Non-GAAP metrics not disclosed in the 10-Q. Retail revenue slid 3% to $198.7M across 103 stores, but consumer packaged goods jumped 14% to $170.3M. Federal illegality under U.S. law clouds banking access.
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