Green Thumb’s Q2 Revenue Soars 11% To $280M, Is Rising Cost Something To Watch?
Green Thumb Industries Inc. (OTC: GTBIF), a national cannabis consumer packaged goods company and owner of RISE Dispensaries, announced its financial results for the second quarter ended June 30, 2024.
“In the second quarter, our team delivered impressive results including $280 million in revenue, Adjusted EBITDA of $94 million, and $20 million of cash flow from operations,” said Ben Kovler, Green Thumb founder, chairman and CEO in a press release. He emphasized the company’s robust market position and ongoing challenges with regulatory clarity.
Green Thumb president Anthony Georgiadis praised the company’s focus on execution and product quality, contributing to their strong performance.
Financial Highlights
Revenue: Green Thumb reported a revenue of $280 million for the second quarter, marking an 11% increase compared to the same period in the previous year.
Net Income: The company achieved a net income of $20.7 million, or $0.09 per basic and diluted share, up from $13.4 million, or $0.05 per share, in the second quarter of 2023.
Gross Profit and Margin: Gross profit for Q2 2024 was $150.5 million, …