Green Thumb Industries reported third-quarter revenue of $324.4 million, up 11% and above the $307.95 million analyst estimate, while posting a net loss of $4.8 million.
Third-quarter revenue rose 11% to $324.4 million, beating the $307.95 million analyst estimate. Green Thumb Industries reported a net loss of $4.8 million, compared with a year-earlier profit that included a gain on an intellectual property sale. EBITDA was $59.3 million, gross profit was $146.8 million and operating cash flow was $58.3 million.
Revenue growth was driven by new store openings, the launch of adult-use sales in Minnesota and growth in existing markets. Comparable sales grew for the first time since the third quarter of 2024. Consumer packaged goods revenue rose 16%, led by Minnesota and growth in Illinois, New Jersey, New York and Ohio, partly offset by price compression. The company is preparing for adult-use cannabis sales in Virginia beginning in July 2027 and said regulatory changes and federal rescheduling create industry uncertainty.
Green Thumb received DEA registrations for medical cannabis licenses. It said RYTHM consolidation beginning in the fourth quarter will make results not directly comparable with prior periods.
