Green Thumb Q2 Revenue Reaches $307M, Net Income $4.9M; Licensing Fees Squeeze Margins
GTBIF sits 37% above its 52-week low of $5.29.
Summary
Green Thumb reported Q2 revenue of $306.7 million, up 4.6% year-over-year, with net income of $4.9 million. Gross margins compressed to 45% due to RYTHM licensing fees, while the company continued aggressive share buybacks.
Key Events · Earnings and Guidance · GTBIF
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Q2 Revenue Up 5% to $307M
Revenue reached $306.7 million, driven by retail growth in Minnesota and wholesale gains, but comparable sales fell 1.1% on a base of 103 stores.
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Gross Margin Compressed to 45%
Gross profit was $137.9 million (45.0% of revenue), down from 49.9% a year ago, primarily due to $15.8 million in RYTHM brand licensing fees and price compression.
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Net Income Swings to $4.9M Profit
GAAP net income was $4.9 million ($0.02/share) versus a $0.6 million loss last year, helped by lower income tax expense after cannabis rescheduling to Schedule III.
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Aggressive Share Buybacks Continue
Repurchased 7.9 million Subordinate Voting Shares for $48.3 million at an average price of $6.11; $62.3 million remains under the buyback authorization through September 22, 2026.
Analysis · GTBIF · Industrial Applications And Services
Revenue grew 5% to $307 million, yet gross margin contracted to 45% from 50% a year ago, weighed down by RYTHM brand licensing fees and price compression. Net income swung to a modest $4.9 million profit from a small loss last year, aided by lower taxes following cannabis rescheduling. The company bought back 7.9 million shares for $48 million, signaling confidence, but the real story lies in margin erosion and rising SG&A costs — they reveal the price of retaining talent and paying for brand rights in a competitive market. With $284 million in cash and $283 million in debt, the balance sheet is solid, but investors will watch whether margin pressure persists.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, GTBIF was trading at $7.27 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $5.29 to $10.43. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.