Adjusted Operating EBITDA increased 50.2% to $53.2 million, or 33.9% of revenue, quarter-over-quarter driven by continued operational scale and increased operating leverage
Revenue increased 31.3% quarter-over-quarter and 131.1% year-over-year to $157.1 million
New milestone of positive net income of $9.6 million or $0.04 per basic and diluted share
Positive cash flow from operations for the third consecutive quarter
Strong balance sheet and financial flexibility will support continued growth in 2021
CHICAGO and VANCOUVER, British Columbia, Nov. 11, 2020 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“Green Thumb,” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ retail stores, today reported its financial results for the third quarter ended September 30, 2020. Financial results are reported in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and all currency is in U.S. dollars.
“This was an excellent quarter for Green Thumb as we delivered substantial revenue growth and our ‘Enter, Open, Scale’ strategy is generating meaningful operating leverage across our business. We expanded gross margins and EBITDA margins quarter-over-quarter while delivering positive net income for the first time. This was driven