Green Thumb Industries Inc. (GTII) reported a revenue of $1.175 billion for the fiscal year ending December 31, 2025, marking a 3% increase from $1.137 billion in 2024. The growth was attributed to the launch of adult-use cannabis sales in Minnesota and Ohio, as well as continued expansion in existing markets such as Florida, Maryland, and New York. However, the company experienced a decline in gross profit, which fell to $574.9 million, down 4% from $601.1 million in the previous year, primarily due to price compression and increased competition.
The company's total expenses rose significantly, reaching $437.2 million, a 16% increase compared to $376.7 million in 2024. This rise was largely driven by higher salaries and benefits for corporate staff and costs associated with the opening and operation of new retail stores. Despite these challenges, Green Thumb reported a net income of $114.2 million, a 56% increase from $73.1 million in 2024, reflecting improved operational efficiency and a favorable shift in other income, which included a substantial gain from fair value adjustments.
Operationally, Green Thumb expanded its retail footprint, operating 113 retail locations by the end of 2025, up from 101 in 2024. The retail segment contributed 71% of total revenue, while the Consumer Packaged Goods segment accounted for 29%. The company also noted that it employed approximately 5,000 people across its operations, reflecting its commitment to growth in the cannabis sector.
Strategically, Green Thumb made significant moves in its business structure, including the sale of its consumer packaged goods brands' intellectual property to RYTHM, Inc. in 2025, while securing licensing agreements for continued use of these brands. This transaction is expected to enhance the company's operational flexibility and market presence. Looking ahead, Green Thumb aims to continue its growth trajectory by expanding its market presence and enhancing its product offerings, despite the competitive landscape and regulatory challenges inherent in the cannabis industry.
About Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading cannabis company engaged in manufacturing, distributing, and retailing branded cannabis products and operating dispensaries across multiple U.S. states. Its core business includes consumer packaged goods, cultivation, and retail store chains like RISE Dispensaries. The company emphasizes product innovation, brand protection, and compliance within a highly regulated industry, serving both medical and adult-use markets nationwide.
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