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Green Thumb Industries Inc GTII

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Green Thumb’s Impressive Q2 Reflects Continued Strength of U.S. Market; Shares Still Undervalued

Analyst Note

| Kristoffer Inton |

Green Thumb Industries’ second quarter continued a streak of solid performance, as total revenue grew 14% sequentially and 85% over the prior year quarter to $222 million. Margins were roughly flat sequentially but expanded massively year over year. Nevertheless, with gross margin at 55% and adjusted EBITDA margin at 36% for the quarter, profitability remains strong. We’re happy to see that it’s not just new stores that drove revenue growth, with same store sales up 34% year on year and 7% sequentially.

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Company Profile

Business Description

Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 12 states and operates more than 50 cannabis stores under the chains Rise and Essence. GTI is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including Dr. Solomon’s, Dogwalkers, and Beboe.

Contact
325 West Huron Street, Suite 412
Chicago, IL, 60654
T +1 312 471-6720
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 2,223

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Kristoffer Inton

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