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Green Thumb Industries Inc. (GTI) is a national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. GTI promotes well-being through the power of cannabis while giving back to the communities it serves. The company manufactures and distributes a portfolio of branded cannabis products including &Shine, Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles, and RYTHM. GTI also owns and operates rapidly growing national retail cannabis stores called RISE Dispensaries. With 20 manufacturing facilities, 93 open retail locations, and operations across 14 U.S. markets, GTI employs approximately 4,500 people and serves millions of patients and customers each year.
Green Thumb Industries reported strong financial results for Q3 2021, with revenue of $233.7 million, reflecting a 48.7% year-over-year increase. The company achieved its fifth consecutive quarter of positive GAAP net income at $20.2 million, or $0.08 per diluted share. Adjusted Operating EBITDA rose to $81.2 million, a 52.6% annual growth. Green Thumb expanded its cannabis operations in Virginia and Rhode Island, enhancing its market presence. Cash on hand reached $285.8 million, contributing to robust cash flow and supporting future growth initiatives.
Green Thumb Industries (GTBIF), a leading cannabis consumer goods company, announced participation in the Cowen Annual Virtual Cannabis Conference on November 29, 2021. CEO Ben Kovler will join a panel and engage in one-on-one meetings. The company, established in 2014, operates 16 manufacturing facilities and 65 retail locations across 14 U.S. markets. Green Thumb employs over 3,400 individuals and serves millions of customers annually. Recognized for its rapid growth, the company was named to Crain’s Fast 50 list in 2021.
Green Thumb Industries (GTI) announced the launch of its Good Green Grant Program, selecting three nonprofits from over 80 applicants to receive $75,000 each for their missions in education, employment, and expungement. The grant recipients include Philadelphia Lawyers for Social Equity, Innovation Works Baltimore, and Why Not Prosper. Additionally, the second round of grant applications for 501(c)3 organizations is open until January 12, 2022. Good Green flower products, aimed at communities affected by the War on Drugs, are now available in multiple states, including Illinois and Pennsylvania.
Green Thumb Industries (GTBIF) announces the grand reopening of Rise Mundelein on October 16, 2021. This event celebrates the store's expansion and includes a ribbon-cutting ceremony attended by Mundelein Mayor Steve Lentz. The upgraded facility will provide enhanced services, including an open concept for personalized consultations and the first roll-through car service for medical cannabis pickups in Illinois. This move aims to improve patient and customer experiences, reinforcing Green Thumb's commitment to community engagement and its role in the cannabis sector.
Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) will participate in October 2021 conferences, enhancing investor engagement. On October 5, Andy Grossman, Head of Capital Markets, will join the A.G.P. Virtual Fall Consumer Cannabis Conference for a panel discussion and one-on-one meetings. Green Thumb, a prominent cannabis packaged goods company and retailer, operates Rise™ Dispensaries and has a significant footprint with 16 manufacturing facilities and licenses for 114 retail locations across 14 U.S. markets, employing over 3,000 staff.
Green Thumb Industries (GTBIF) will hold a conference call on November 10, 2021, at 5:00 p.m. ET to discuss its Q3 2021 financial results, released after market close. Investors can access the call by dialing 866-777-2509 or registering online. Green Thumb is a top cannabis consumer packaged goods company with a growing retail presence under the Rise Dispensaries brand. The company operates 16 manufacturing facilities and holds licenses for 114 retail locations across 14 U.S. markets.
Green Thumb Industries (GTBIF) announced the opening of its third dispensary in New Jersey, Rise Bloomfield, marking its 65th store nationwide. The company will donate first-day profits to the Bloomfield Youth Aid Foundation, which supports local youth initiatives. Founded in 2014, Green Thumb operates 16 manufacturing facilities and holds licenses for 114 retail locations across 14 U.S. markets. This expansion signifies the growing acceptance of cannabis on the East Coast and aligns with Green Thumb's commitment to community impact.
Green Thumb Industries (CSE: GTII, OTCQX: GTBIF), a leading cannabis consumer packaged goods company, announced its participation in three upcoming virtual cannabis conferences in September 2021. CEO Ben Kovler will lead fireside chats at the Needham Virtual Cannabis Conference on September 14 and the BTIG Virtual Cannabis Conference on September 29, 2021. Green Thumb operates 16 manufacturing facilities and holds licenses for 114 retail locations across 14 U.S. markets, emphasizing community well-being through cannabis products.
Green Thumb Industries (GTBIF) has acquired GreenStar Herbals, enhancing its retail presence in Massachusetts by adding two operational adult-use stores and a new location set to open in 2021. This acquisition supports Green Thumb's strategy to expand its footprint in the cannabis market, increasing its total retail locations to 64 nationwide, with licenses for 114. The Massachusetts cannabis market has generated over $1.5 billion since 2018, with expectations of reaching $1.2 billion in sales for 2021. The integration aims to meet growing consumer demand in the state.
Green Thumb Industries reported strong Q2 2021 results, with revenue hitting $221.9 million, a 14.1% sequential increase and 85.4% year-over-year growth. The first half of 2021 revenue totaled $416.3 million, a rise of 87.3%. The company achieved a net income of $22.1 million, its fourth consecutive quarter of profitability. Adjusted Operating EBITDA more than doubled to $79.3 million, representing 35.7% of revenue. Key developments included acquisitions in Massachusetts, Virginia, and Rhode Island, expanding its market footprint.
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