Green Thumb Exceeds Analysts Estimates With US$221.9 Million In Revenue For Q2 2021

Green Thumb Industries Inc. (CSE: GTII) on Wednesday reported its Q2 2021 financial results, which saw the company post US$221.9 million in revenue, exceeding consensus estimates from analysts. The topline figure is also an increase from Q1 2021’s revenue of US$194.4 million and Q2 2020’s revenue of US$119.6 million.

The cannabis firm relayed that the revenue growth is mainly driven by “increased scale in the consumer packaged goods and retail businesses.” Year-on-year increase on gross margin is also primarily due to the expanded distribution, notching 55.4% this quarter compared to 53.2% for the same comparable period last year.

The company also recorded US$22.1 million net income for the quarter, up from last quarter’s US$10.4 million and last year’s US$12.9 million net loss. This quarter’s net income translates to US$0.10 earnings per share.

The cash and cash equivalents balance at the quarter’s end came in at US$359.2 million compared to last quarter’s US$275.9 million. The company also ended the quarter with total debt outstanding of US$197.6 million, up from last quarter’s balance of US$100.1 million. The results are partly due to the company issuing US$216.7 million worth of senior secured notes in April 2021, part of the proceeds of which were used to retire an existing US$105.5 million senior secured debt.

Green Thumb Industries Inc. last traded at $39.02 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Green Thumb Raises Additional $56.0 Million Under Form S-1

Green Thumb Industries (CSE: GTII) this morning announced that it has raised further funds in...

Tuesday, February 23, 2021, 07:13:39 AM

Green Thumb: Haywood Lowers Price Target On Slower Growth Expectations

Green Thumb Industries Inc. (CSE: GTII) announced that they will be reporting their third-quarter financial...

Thursday, October 28, 2021, 05:33:00 PM

Green Thumb Industries Sees Resignation Of Director

Green Thumb Industries (CSE: GTII) has seen the resignation of Alex Yemenidjian from the firms...

Thursday, December 31, 2020, 07:56:26 AM

US Cannabis: Stifel Expects “Limited To No Sales Growth”

Earlier this month, Stifel-GMP came out with their US cannabis second quarter preview, calling the...

Monday, August 1, 2022, 01:17:00 PM

Green Thumb Records $233.7 Million In Q3 Revenues, Meeting Analyst Expectations

Green Thumb Industries (CSE: GTII) this evening reported its third quarter financial results for 2021....

Wednesday, November 10, 2021, 04:35:28 PM