GTII - Green Thumb Industries Revenue Increases 11% In Q1 2024: We're 'Off To A Great Start' Says Pres | Benzinga
Green Thumb Industries (CSE:GTII) (OTCQX:GTBIF), a national cannabis consumer packaged goods company and owner of RISE Dispensaries, reported its financial results Wednesday afternoon for the first quarter ended March 31, 2024.
Highlights for the first quarter ended March 31, 2024:
- First quarter revenue of $276 million increased 11% over the prior-year period.
- Cash at quarter end of $223.9 million.
- GAAP net income for the first quarter of $31 million or $0.13 per basic and diluted share increased 240% year-over-year.
- Adjusted EBITDA of $91 million or 33% of revenue increased 19% over the prior year period.
- Cash flow from operations of $84 million increased 12% compared to Q1 2023.
- Purchased 1,067,000 Subordinate voting shares for a total of $13.6 million.
"I am pleased that our team delivered an outstanding quarter with revenue over $275 million, Adjusted EBITDA over $90 million, and cash flow from operations over $80 million," said Green Thumb founder, chairman and CEO Ben Kovler. "We have the pieces in place to execute on our strategy to create award-winning brands and build customer loyalty. ...