Green Thumb Industries reported second quarter 2026 revenue of $306.7 million, a 4.6% increase year-over-year, which missed analyst expectations. The company also missed on profitability, reporting GAAP EPS of $0.02 and an Adjusted EBITDA of $68.6 million, significantly below forecasts, citing price compression and increased expenses.
Key Highlights
- Revenue grew 4.6% year-over-year to $306.7 million, driven by new adult-use sales in Minnesota but partially offset by price compression in other markets.
- Adjusted EBITDA was $68.6 million, a significant decrease from $82.7 million in the prior-year period and well below analyst estimates of $112.5 million.
- Gross margin declined to 45.0% from 49.9% in the prior year, primarily due to brand licensing fees and price compression.
- The company generated $29.0 million in cash flow from operations and repurchased $48.3 million of its shares during the quarter.