$GTBIF

Green Thumb Industries Inc.

CIK:0001795139|SEC Filings

Unaudited Interim Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues, Net of Discounts	$ 306,683	$ 293,257	$ 606,873	$ 572,797
Cost of Goods Sold	(168,809)	(147,001)	(325,354)	(283,266)
Gross Profit	137,874	146,256	281,519	289,531
Expenses:
Selling, General, and Administrative	117,907	106,823	220,818	207,616
Total Expenses	117,907	106,823	220,818	207,616
Income From Operations	19,967	39,433	60,701	81,915
Other Income (Expense):
Other (Expense) Income, Net	(2,222)	(13,989)	20,745	(14,013)
Interest Income	4,298	1,910	8,901	4,033
Interest Expense, Net	(6,095)	(5,046)	(11,260)	(9,911)
Total Other Income (Expense)	(4,019)	(17,125)	18,386	(19,891)
Income Before Provision for Income Taxes And Non-Controlling Interest	15,948	22,308	79,087	62,024
Provision For Income Taxes	12,521	21,576	60,613	52,891
Net Income Before Non-Controlling Interest	3,427	732	18,474	9,133
Net (loss) income attributable to non-controlling interest	(1,451)	1,377	(1,801)	1,472
Net income (loss) attributable to Green Thumb Industries Inc.	$ 4,878	$ (645)	$ 20,275	$ 7,661
Net Income Per Share - Basic	$ 0.02	$ (0.01)	$ 0.09	$ 0.03
Net Income Per Share - Diluted	$ 0.02	$ (0.01)	$ 0.09	$ 0.03
Weighted Average Number of Shares Outstanding - Basic	221,022,912	235,842,313	225,810,458	235,984,140
Weighted average Number of Shares Outstanding - Diluted	222,776,252	235,842,313	229,789,640	239,097,719

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOW FROM OPERATING ACTIVITIES
Net Income (Loss)	$ 20,275	$ 7,661
Net (loss) income attributable to non-controlling interest	(1,801)	1,472
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65,589	59,082
Amortization of operating lease right of use assets	27,161	25,572
Amortization of finance lease interest	177	0
Loss on disposal of property and equipment	1,945	1,932
(Earnings) loss on equity method investments	(6,501)	2,435
Loss on divestitures of a business	0	11,678
Reserve for obsolete inventory expense	363	0
Stock based compensation	21,135	22,275
Decrease (increase) in fair value of investments	2,304	(50)
Interest on notes receivable	(1,469)	(727)
Fair value adjustments on related party warrants	1,122	0
Interest on related party convertible note receivable	(3,560)	(788)
Amortization of debt discount	359	319
Other Non-cash items	107	(88)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(1,819)	5,917
Inventories	(21,439)	(4,126)
Prepaid expenses and other current assets	(1,028)	2,446
Deposits and other assets	(149)	153
Accounts payable	(8,276)	(1,700)
Accrued liabilities	(14,138)	(17,901)
Operating lease liabilities	(26,307)	(23,126)
Income tax receivable and payable, net	50,760	38,230
NET CASH PROVIDED BY OPERATING ACTIVITIES	104,810	130,666
CASH FLOW FROM INVESTING ACTIVITIES
Purchases of property and equipment	(39,077)	(48,842)
Proceeds from disposal of property and equipment	690	0
Investments in securities and associates	(1,529)	(30,122)
Proceeds from equity investments and notes receivable	69	62
Acquisitions, net of cash acquired	(14,703)	(24,414)
Proceeds from divestiture of a business	0	5,075
NET CASH FLOW USED IN INVESTING ACTIVITIES	(54,550)	(98,241)
CASH FLOW FROM FINANCING ACTIVITIES
Principal payments under finance leases	(134)	0
Contributions from limited liability company unit holders	0	5,800
Distributions to non-controlling interest holders	(1,238)	(875)
Repurchase of Subordinate and Super Voting Shares	(81,559)	(24,811)
Payments for taxes related to net share settlement of equity awards	(6,883)	(3,328)
Proceeds from exercise of options	104	1,350
Proceeds, net from issuance of notes payable	49,490	0
Principal repayment of notes payable	(11,736)	(5,325)
NET CASH FLOW USED IN FINANCING ACTIVITIES	(51,956)	(27,189)
CASH AND CASH EQUIVALENTS:
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(1,696)	5,236
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	285,282	171,687
CASH AND CASH EQUIVALENTS END OF PERIOD	283,586	176,923
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid	11,444	10,999
Taxes paid	10,588	14,657
NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures	(1,480)	(7,922)
Noncash change in operating lease right of use asset	(729)	(2,254)
Noncash change in operating lease liability	729	2,254
Issuance of shares associated with investment interests	0	630
Issuance of shares to non-employee contractors	100	145
Distribution of deferred shares	0	(6,362)
ACQUISITIONS AND DISPOSITIONS
Inventory	1,618	447
Accounts receivable	0	(469)
Prepaid expenses	598	256
Property and equipment	12,124	2,061
Operating lease right-of-use asset	10,371	2,027
Identifiable intangible assets	22,220	(869)
Goodwill	9,328	5,928
Deposits and other assets	279	0
Liabilities assumed	(1,164)	660
Operating lease liabilities	(10,371)	(2,027)
Contingent liabilities	(50)	0
Gain on divestiture of Project Remix assets	0	11,678
Cash consideration payable	(30,250)	(353)
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed), Total	$ 14,703	$ 19,339