Green Thumb Posts Q3 Revenues Of $157.1 Million, Net Income Of $9.6 Million

Green Thumb Industries (CSE: GTII) reported its third quarter financial results this evening after the bell, reporting revenues net of discounts of $157.1 million, along with a net income of $10.8 million. Notably, the company also posted positive cash flows from operations during the quarter.

Revenues were up 31.3% on a quarter over quarter basis, with the company posting revenues last quarter of $119.6 million compared to the $157.1 million posted in the current period. The results posted beat consensus estimates, which sat at $135.4 million. Gross profit meanwhile amounted to $87.0 million.

Expenses during the quarter amounted to $49.7 million, essentially flat when compared to the $49.6 million spent in the previous quarter. Unlike many of its peers, Green Thumb lumps all expenses under the selling, general and administrative banner, providing minimal insight to where the money was placed.

Other income posted during the quarter amounted to $2.0 million, with the company posting income of $6.4 million which was offset by $4.5 million in interest expenses. Net income as a result came out to $10.8 million before non-controlling interests are factored in.

Moving to the balance sheet, the company saw its cash position fall from $82.9 million to that of $78.1 million over the three month period. No other breakdown was provided within the news release, aside from other current assets totaling out at $81.0 million. Collectively, its believed that current assets amount to $159.1 million, an increase over the $152.6 million posted in the previous quarter.

Total current liabilities meanwhile had no breakdown provided, with the total figure slated at $105.9 million within the abbreviated balance sheet provided in the earnings news release. Comparatively, total current liabilities last quarter amounted to $133.4 million.

Green Thumb Industries last traded at $26.55 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

Tudor Gold x American Creek: Consolidating A Massive Gold Project

Aura Minerals: The Era Dorada Underground PEA

Gold Is Now Smart Money’s End Game | Doug Casey

Recommended

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Emerita Resources Formally Appeals Administrative Ruling On Aznalcóllar Related To 2017 Complaint 

Related News

Green Thumb: Analysts Upgrade Ratings On Back Of Earnings Beat

This morning Canaccord Genuity raised their 12-month price target on Green Thumb Industries (CSE: GTII)...

Thursday, November 12, 2020, 10:50:37 AM

Week Ahead: U.S Cannabis Earnings Expectations For CRON, CURA, IIPR And More

Cannabis investors are facing a harsh 2023 as shares of the largest U.S cannabis companies...

Sunday, February 26, 2023, 01:28:00 PM

Needham Names Green Thumb Industries, Ayr Strategies As 2021 Top Picks

This month, Needham & Company released a 2021 outlook wherein they named Ayr Strategies (CSE:...

Friday, January 1, 2021, 01:45:00 PM

Cowen & Co Issues US Cannabis Update, Remains Bullish on Green Thumb, Cresco, Curaleaf

On the first of the month, Cowen and Co sent out an industry update specifically...

Sunday, September 6, 2020, 01:37:00 PM

Green Thumb Industries Closes On Acquisition Of Virginia Operator

Green Thumb Industries (CSE: GTII) yesterday announced that they have closed the acquisition of Dharma...

Friday, July 2, 2021, 07:54:39 AM