Green Thumb Industries Reports Second Quarter 2022 Results - Investing News Network | Florida Dispensaries

Green Thumb Industries Reports Second Quarter 2022 Results – Investing News Network

Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE dispensaries today reported its financial results for the second quarter ended June 30, 2022. Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and all currency is in U.S. dollars.

Highlights for the second quarter and six months ended June 30, 2022:

Revenue increased 4.8% sequentially and 14.6% year-over-year to $254.3 million. First half 2022 revenue increased 19.4% to $496.9 million compared to the first half of 2021. Eighth consecutive quarter of positive GAAP net income, delivering $24.4 million or $0.11 per basic and $0.10 per diluted share. Adjusted Operating EBITDA grew 17.4% sequentially to $78.7 million or 31.0% of revenue. Cash flow from operations of $39.9 million year-to-date.

See definitions and reconciliation of non-GAAP measures elsewhere in this release.

Management Commentary

“We are pleased with our second quarter results, especially in this challenging economic environment. Five percent revenue growth and greater than 300 basis point improvement in Adjusted EBITDA margins over the previous quarter demonstrate the results of our focus. We continue to maintain a

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