Green Thumb Posts Q4 Revenues of $243.6 Million, Net Income
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.
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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
