Green Thumb Industries (CSE: GTII) this morning posted its fourth quarter 2021 financial results. For the quarter, the firm saw its revenues climb to $243.6 million, an improvement both quarter over quarter and year over year, while also posting positive net income.
Revenue for the quarter improved on a quarter over quarter basis, however growth appears to be slowing for the company. The firms revenue grew 4.2% on a sequential basis from $233.7 million, however that’s down from the prior quarters sequential growth of 5.3%. Gross profit meanwhile fell from $129.5 million in Q3 to $128.6 million in the fourth quarter.
Expenses comparatively were also up on a sequential basis, climbing from $71.4 million in the third quarter to $74.3 million in the fourth quarter, leading to an income from operations of $54.4 million.
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After other expenses of $3.9 million, and provision for income taxers of $24.0 million, the company posted a net income of $22.8 million for the fourth quarter, compared to a net income of $20.2 million in the third quarter. EBITDA meanwhile came in at $75.6 million.
For the full fiscal year meanwhile, revenue amounted to $893.6 million, a 60.5% increase from the $556.6 million recorded in 2020. Gross profit improved to $491.9 million from $304.2 million, while income from operations jumped to $214.8 million from $106.1 million.
Overall, the company posted a net income of $75.4 million for the full fiscal year, compared to $15.0 million in 2020. Adjusted EBITDA for the full year was reported at $283.3 million.
In terms of the balance sheet, cash and cash equivalents amounted to $230.4 million, while current assets came in at $364.2 million. Total current liabilities meanwhile came in at $204.4 million.
Green Thumb Industries last traded at $24.87 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.
