GTBIF - Green Thumb closes 2021 with over 60% growth and fivefold rise in net income

Green Thumb Industries (OTCQX:GTBIF) is trading higher in the pre-market Tuesday after U.S. multi-state operator beat Wall Street forecasts with its Q4 2021 financials. Revenue for the quarter rose ~37% YoY to $243.6M expanding the full-year revenue by ~61% to $893.6M. The company attributed the topline growth mainly to the expansion of its Consumer Packaged Goods and Retail businesses, particularly in Illinois and Pennsylvania. Despite a ~39% and ~40% YoY growth in SG&A expenses, the net income for the quarter and full-year rose ~2% and ~403% YoY to $22.8M and $75.4M as gross profit expanded ~28% YoY and ~62% YoY to reach $128.6M and $491.9M, respectively. The cash and equivalents reached $230.4M at the end of the year, down from $83.8M in 2020 year-end. “Our team delivered our sixth consecutive quarter of positive GAAP net income, eighth consecutive quarter of positive cash flow from operations and Adjusted Operating EBITDA of

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Green Thumb closes 2021 with over 60% growth and fivefold rise in net income