Green Thumb Industries Reports $300.2 Million Revenue in Q1 2026, 7% Increase Year-Over-Year

Green Thumb Industries Inc. (GTI) reported a revenue of $300.2 million for the first quarter of 2026, marking a 7% increase from $279.5 million in the same period last year. The company's gross profit remained relatively stable at $143.6 million, compared to $143.3 million in the prior year, resulting in a gross margin of 48%. The increase in revenue was attributed to the launch of adult-use sales in Minnesota, growth in existing markets such as Florida and Ohio, and revenue from new retail stores. However, the company faced challenges from price compression and increased competition in certain markets.

Total expenses for the quarter were $102.9 million, a slight increase of 2% from $100.8 million in the previous year. This rise was primarily due to higher salary and benefits costs associated with corporate staff and the operational expenses of new retail locations. The company reported an income from operations of $40.7 million, down from $42.5 million in the prior year. Notably, GTI experienced a significant increase in other income, totaling $22.4 million, largely due to a one-time arbitration settlement of $17 million, which contributed to a net income of $15.4 million, an 85% increase from $8.3 million in the same quarter of 2025.

As of March 31, 2026, GTI's total assets increased to $2.83 billion from $2.79 billion at the end of 2025. The company reported a working capital of $479.7 million, up from $399.9 million, driven by increased cash reserves and the reclassification of certain receivables. The company employed approximately 4,900 people and operated 114 retail stores, an increase from 103 stores in the previous year. The retail segment generated $208.1 million in revenue, accounting for 69% of total revenues, while the consumer packaged goods segment contributed $167.5 million, representing 31% of total revenues.

In terms of strategic developments, GTI has continued to expand its footprint in the cannabis market, with plans for further growth in existing and new markets. The company has also amended its licensing agreements with RYTHM, Inc., which will now involve fixed annual licensing fees instead of a revenue-based structure. Looking ahead, GTI aims to navigate the evolving regulatory landscape and capitalize on growth opportunities while managing operational costs and maintaining profitability. The company remains focused on sustainable growth and enhancing its market position in the cannabis industry.