Green Thumb Grows Revenue To $287M In Q3, Expands Cannabis Retail Network
Green Thumb Industries Inc. (OTC:GTBIF) (CSE:GTII), a cannabis consumer packaged goods company with headquarters in Chicago and owner of RISE Dispensaries, announced its financial results Thursday for the third quarter ended September 30, 2024.
Q3 2024 Financial Highlights
- Revenue reached $287 million, marking a 4% increase from the previous year.
- Net income was $8.6 million or $0.04 per basic and diluted share, compared to net income of $10.5 million, or income of $0.05 per basic and diluted share in the prior year period.
- Adjusted EBITDA came in at $89.2 million, representing 31.1% of revenue, up from $83.0 million or 30.1% in Q3 2023.
- Gross profit totaled $147.6 million, up from $133.8 million or 48.6% year-over-year.
Cash Flow And Cost Management Gains
Green Thumb’s operational strategies also strengthened profitability. The company posted a gross profit of $147.6 million, representing 51.4% of revenue. This margin reflects effective cost management despite ongoing price pressures in certain markets. Total cash flow from operations for the first nine months of 2024 reached $152 million, …