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
Q3 revenue up 1.6%
Green Thumb Industries posted Q3 revenue of $291.4 million, up 1.6% year-over-year despite price compression, with Adjusted EBITDA at $80.2 million or 27.5% margin. Cash flow from operations hit $74.1 million; cash swelled to $226.2 million. Board authorized $50 million share repurchases through September 2026. All eight Minnesota RISE Dispensaries now sell adult-use. Q4 revenue flat to up single digits.
10-Q
Q3 FY2025 results
Green Thumb's Q3 revenues edged up 2% y/y to $291.4M while gross margins slipped to 49% from 51% on price compression, yet operating income held at $36.7M despite 2% higher SG&A. Q3 diluted EPS doubled to $0.10 on $23.3M net income, fueled by $41.6M gain on IP divestiture to RYTHM; YTD EPS fell to $0.13 from $0.26 as operating income dropped 29% y/y to $118.7M (derived). Cash swelled to $226.2M with $204.8M YTD operating cash flow, funding $24.4M retail acquisitions in Connecticut (June 2025, $14.2M cash, $5.8M goodwill, $6.0M licenses over 15 years) and $24.8M share repurchases; total debt $247.4M in covenant compliance. Adult-use ramps in Minnesota and Ohio offset competition. Cannabis stays federally illegal.
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.
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