Cannabis Earnings: Green Thumb Industries Reports Third Quarter 2021 Results, 48% YoY Revenue Increase

Green Thumb Industries Inc. (OTCMKTS: GTBIF), a leading national cannabis consumer packaged goods company, reported its financial results Wednesday afternoon for the third quarter ended September 30, 2021.

Highlights for the quarter ended September 30, 2021:

  • Revenue increased 5.3% sequentially and 48.7% year-over-year to $233.7 million.
  • A fifth consecutive quarter of positive GAAP net income, delivering $20.2 million ($0.08 per diluted share).
  • Adjusted Operating EBITDA grew 2.4% sequentially and 52.6% year-over-year to $81.2 million (34.7% of revenue).
  • A seventh consecutive quarter of positive cash flow from operations, delivering $82.8 million year-to-date.
  • Cash at quarter-end totaled $285.8 million.

Third Quarter Financial Overview

Total revenue for the third quarter of 2021 was $233.7 million, up 5.3% sequentially and up 48.7% from $157.1 million in the prior-year period. Overall performance was driven by the expanded distribution of Green Thumb’s branded products. In the third quarter of 2021, Green Thumb generated revenue …

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