Green Thumb Earnings + Call Notes

U.S. cannabis leader reports Q424.

Green Thumb Earnings

$294 Revs; est. $288.7M
$98 AEBITDA; est. $88.4M
$158M GP; est. $147.7M
$57 OI; est. $45.7M
53.7% GM; est. 51.2%
$12.8M NI; est. $6.9M
$.05 EPS; est. $0.04

Opened 10 stores in ‘24, bringing total to 101 RISE Dispensaries across 14 states.

First-of-its-kind partnership with beloved Chicago music venue, The Salt Shed

Expanded collaboration with New York’s iconic Magnolia Bakery

Expanded our partnership with influential media company, Barstool Sports.

“The Green Thumb team delivered another year of impressive results in 2024. In Q4, we achieved record high revenue and AEBITDA of $294M and $98M, respectively, and full year cash flow from operations of $195M, net of the $131 million paid in taxes.

We ended the year w a strong balance sheet incl. $172M in cash after repurchasing $43M of company shares. Demand for THC in America is at an all-time high, and Green Thumb is well-positioned to deliver on this opportunity.

Meanwhile, alcohol consumption trends in America are not positive, as the Surgeon General recently warned of the harms of alcohol and its link to cancer. In contrast, cannabis, now available to more Americans in more locations than ever, is enhancing the well-being of tens of millions across the nation.

Over the past decade, our team has been consistently delivering best-in-class brands and experiences to promote well-being, and we are excited by the promising opportunity that lies ahead.”

CEO Ben Kovler

Call Notes