Earnings Releases·Nov 4, 2026, 4:05 PM ET

Green Thumb Industries — Third Quarter 2026 Earnings Summary

Total revenue increased 11.3% year-over-year to $324.4 million, while GAAP net loss of $4.8 million ($0.02/share) reversed prior-year net income of $23.3 million; Normalized EBITDA rose to $89.4 million (27.6% margin) from $80.2 million.
Management outlined a strategy prioritizing long-term growth investments, acquisitions, and buybacks, with adult-use sales in Virginia expected to launch in July 2027 and Texas entry advancing under a conditional license.
The Board authorized a share repurchase program extension through September 2027 with $50 million available, bringing total 2026 buybacks to over $80 million, while RYTHM consolidation is scheduled to begin October 10, 2026.
Retail revenue grew 10.1% year-over-year with comparable sales up 3.0%, and CPG revenue surged 16.0% driven by Minnesota's adult-use launch and expansion in other key states, though growth faced headwinds from price compression and competition.