Green Thumb Industries Inc. (GTBIF), a constituent in the munKNEE Pure-Play Pot Stock Index, is a leading national cannabis consumer packaged goods company and owner of Rise™ retail stores. It reported its financial results today for the Q4 period ended December 31, 2020.

Q4 Highlights (All results are presented in USD  and compared to the previous quarter.)

• Revenue: increased 12.8% to $177.2M
• Gross Margin: increased to 56.7% from 55.4%
• Net Profit (Loss): increased to $22.5M from $9.6M
  • Net Profit (Loss)/Share: improved to $0.11 from $0.04
• Adj. EBITDA: increased 23% to $65.4M
  • As a % of Revenue: increased to 33.9% from 29.6%
• SG&A: increased 7% to $53.2
  • As a % of Revenue: increased to 33.9% from 31.7%
• Cash on hand: increased 7.3% to $83.8M

Q4 Operational Highlights

• Generated revenue from all 12 of its markets: California, Colorado, Connecticut,  Florida, Illinois, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, and Pennsylvania and continued to invest in the expansion of its cultivation and manufacturing capabilities in Illinois, Maryland, Massachusetts, New Jersey, Ohio, and Pennsylvania.
• Generated sales from 51 retail stores across ten states: Connecticut, Florida, Illinois, Ohio, Maryland, Massachusetts, Nevada, New Jersey, New York, and Pennsylvania. 
• Grew Q4 gross branded product sales by approximately 31% driven primarily by an expanded scale in production and distribution of branded products.
• Grew comparable Q4 sales by 6% on a base of 48 stores.

Management Commentary

Ben Kovler, founder and CEO said:

• “This was a solid quarter to top off a milestone year for the Green Thumb team... We:
  • delivered substantial revenue growth,
  • expanded gross margins,
  • recorded our fourth consecutive quarter of improved operating leverage and
  • achieved positive GAAP net income and EPS for the second quarter in a row.
• Our balance sheet is strong, our brands are connecting with consumers and our capital projects are on track...”

Stock Performance

Green Thumb is one of the 21 constituents in the munKNEE MSO Pot Stock Sub-Index and it is UP in price 39.6% YTD.

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