Welcome to our dedicated page for GREEN THUMB INDUS SUB VTG news (Ticker: GTBIF), a resource for investors and traders seeking the latest updates and insights on GREEN THUMB INDUS SUB VTG stock.
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 Q1 2021 results with revenue of $194.4 million, a 9.7% sequential increase and 89.5% year-over-year growth. The company achieved positive GAAP net income of $10.4 million or $0.05 per share, marking its third consecutive quarter of profitability. Adjusted Operating EBITDA grew 179.3% year-over-year to $71.4 million, representing 36.7% of revenue. Significant expansions include a strategic entry into Virginia's market and debt refinancing to support growth initiatives.
Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) has signed a definitive agreement to acquire Dharma Pharmaceuticals, marking its entry into Virginia's burgeoning cannabis market. This acquisition is poised to expand Green Thumb's footprint to 13 states, strategically positioning the company in the first adult-use market in the Southeastern U.S. With Virginia expected to generate over $1.5 billion in legal cannabis sales, Green Thumb aims to enhance access to its cannabis products, targeting both medical patients and future adult-use consumers.
Green Thumb Industries (GTBIF) announced a successful closing of a US $217 million senior secured notes financing at a favorable interest rate of 7%. The funds will be used to retire existing US $105 million debt due in May 2023 and for general working capital. This financing strengthens the company's balance sheet and supports its U.S. expansion strategy. The notes mature in April 2024 and allow for an additional US $33 million borrowing. Insider participation included approximately US $3 million, qualifying as a related party transaction under MI 61-101.
Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) has announced its participation in the upcoming AGP Cannabis Conference on May 4, 2021. The executive team will engage in a panel discussion and conduct one-on-one meetings. As a leading cannabis consumer packaged goods company, Green Thumb operates Rise™ Dispensaries and offers a diverse range of cannabis products including Beboe, Dogwalkers, and Rythm. The company has established a strong presence with 13 manufacturing facilities, licenses for 97 retail locations, and operations in 12 U.S. markets, employing over 2,400 people.
Green Thumb Industries (GTBIF) has launched Cann, a cannabis-infused beverage brand, in Illinois, expanding its portfolio of consumer products. Cann offers micro-dosed social tonics with all-natural ingredients, designed as an alcohol alternative. Available at Rise™ dispensaries and select cannabis stores, the drinks are low in calories and sugar, with flavors like Lemon Lavender and Grapefruit Rosemary. Cann targets the burgeoning market of cannabis consumers seeking healthier options, with adult-use sales in Illinois hitting over $1 billion in 2020.
Green Thumb Industries will host a conference call on May 12, 2021, at 5:00 p.m. ET to discuss its Q1 2021 financial results. Interested parties can join by dialing 833-502-0470 (Toll-Free) or 236-714-2182 (International) with conference ID: 6438759. A live audio webcast will also be available on the Investor Relations section of the company's website. Green Thumb, based in Chicago, operates 13 manufacturing facilities and holds licenses for 97 retail locations across 12 U.S. markets, aiming to promote well-being through cannabis products.
Green Thumb Industries (GTBIF) announced the appointment of Swati Mylavarapu to its Board of Directors, effective April 7, 2021. Mylavarapu brings nearly a decade of experience in technology and investments, having founded Incite.org and previously worked at Kleiner Perkins. CEO Ben Kovler expressed excitement over her unique skills in innovation and social impact. Mylavarapu aims to contribute positively to Green Thumb, aligning with its mission to benefit communities and advocate for social change. Green Thumb operates 97 retail locations across 12 U.S. markets, employing over 2,400 people.
Green Thumb Industries, a prominent cannabis consumer packaged goods company, announced its participation in two key conferences in April 2021. The founder and CEO Ben Kovler will be featured on a panel at the ROTH Virtual Golden Cannabis Day on April 7, 2021. Additionally, management will engage in one-on-one meetings at the Stifel Canada Cross Sector Insight Conference on April 21, 2021. Green Thumb operates a significant portfolio of branded products and retail locations across the U.S., employing over 2,400 individuals.
Green Thumb Industries (GTBIF) refutes allegations of an open federal investigation regarding its business practices. The claims originated from a Chicago Tribune report lacking credible sources. CEO Ben Kovler criticized the report for being misleading and emphasized that the company has legally obtained its licenses through competitive state programs. Green Thumb demands a retraction from the Chicago Tribune, emphasizing its commitment to compliant business operations and community well-being. The company operates 13 manufacturing facilities and holds licenses for 97 retail locations.
Green Thumb Industries reported impressive financial results for Q4 2020, with revenues of $177.2 million, reflecting a 133.8% YoY increase. For the full year, revenue rose 157.2% to $556.6 million. The company achieved a net income of $22.5 million in Q4, its second consecutive quarter of positive GAAP net income. Adjusted Operating EBITDA also surged by 374.0% YoY, reaching $65.4 million, indicating strong operational performance. Green Thumb raised $156 million following its IPO, enhancing its balance sheet and capital for future growth.
FAQ
What is the current stock price of GREEN THUMB INDUS SUB VTG (GTBIF)?
What is the market cap of GREEN THUMB INDUS SUB VTG (GTBIF)?
Where is Green Thumb Industries Inc. headquartered?
What are some of the branded cannabis products offered by Green Thumb Industries Inc.?
How many manufacturing facilities does Green Thumb Industries Inc. have?
How many retail locations does Green Thumb Industries Inc. have?
What is the primary focus of Green Thumb Industries Inc.?
