Green Thumb Industries (OTC) ( (GTBIF) ) has released its Q4 earnings. Here is a breakdown of the information Green Thumb Industries (OTC) presented to its investors.
Green Thumb Industries Inc., a prominent player in the cannabis consumer packaged goods sector, operates RISE Dispensaries and is known for its extensive retail presence across the United States.
Green Thumb Industries reported a robust financial performance for the fourth quarter and full year of 2024, with notable increases in revenue and net income. The company continues to expand its retail footprint and enhance brand awareness through strategic partnerships.
In the fourth quarter of 2024, Green Thumb achieved a revenue of $294 million, marking a 6% increase from the previous year. The company’s net income rose to $13 million, with an adjusted EBITDA of $98 million, representing 33% of the revenue. Throughout the year, Green Thumb opened ten new RISE Dispensaries, bringing the total to 101 locations nationwide, and repurchased $43 million worth of shares.
For the full year 2024, Green Thumb’s revenue reached $1.1 billion, an 8% increase from the prior year, with a net income of $73 million. The company’s gross profit improved to $601.1 million, driven by operational efficiencies that countered market price compression. Green Thumb’s strategic focus on capital allocation and operational excellence continues to support its growth trajectory.
Looking ahead, Green Thumb Industries remains optimistic about the growing demand for cannabis products in the U.S. The company is well-positioned to capitalize on this trend, backed by its strong balance sheet and commitment to delivering quality products and memorable consumer experiences.