Green Thumb Industries Reports 5% Revenue Growth to $306.7 Million in Q2 2026

Green Thumb Industries Inc. (GTI) reported its financial results for the second quarter of 2026, revealing a revenue of $306.7 million, a 5% increase from $293.3 million in the same period last year. For the first half of 2026, revenue reached $606.9 million, up 6% from $572.8 million in the first half of 2025. The growth was attributed to the launch of adult-use cannabis sales in Minnesota and continued expansion in existing markets, particularly in Connecticut, Florida, and Ohio. However, the company faced challenges such as price compression and increased competition in certain markets.

Despite the revenue growth, GTI's gross profit for the second quarter decreased to $137.9 million, down 6% from $146.3 million year-over-year, resulting in a gross margin of 45%. The decline in gross profit was primarily due to increased licensing fees associated with its partnership with RYTHM, Inc. and pricing pressures. Total expenses for the quarter rose to $117.9 million, a 10% increase compared to $106.8 million in the prior year, driven by higher compensation costs and expenses related to new store openings.

The company reported a net income of $4.9 million for the second quarter, a significant recovery from a net loss of $645,000 in the same quarter of 2025. This translated to a net income per share of $0.02, compared to a loss per share of $(0.01) in the previous year. For the first half of 2026, net income was $20.3 million, up from $7.7 million in the first half of 2025. The improved profitability was aided by a favorable change in other income, which included a one-time arbitration settlement of $17 million.

Operationally, GTI expanded its retail footprint, operating 123 retail stores as of June 30, 2026, compared to 108 stores a year earlier. The company also made strategic acquisitions, including control over eight retail dispensary licenses, which contributed to its growth strategy. As of the end of the second quarter, GTI employed approximately 4,900 people and served millions of customers annually across 14 U.S. markets.

Looking ahead, GTI remains focused on expanding its market presence and product offerings while navigating the challenges of a competitive landscape. The company plans to continue investing in its retail and consumer packaged goods segments, with an emphasis on sustainable growth and operational efficiency. The recent reclassification of state-legal medical cannabis to Schedule III under the Controlled Substances Act is expected to positively impact the company's tax position, although the full implications remain to be seen as further guidance is awaited.