Green Thumb Q1 revenue up 25% to $243M; net income $29M, launches NJ adult-use

Green Thumb Industries Inc.

2022-Q1 EPS reported $0.12 revenue$242,600,000

Revenue $242.6M (+25% YoY), flat sequentially; net income $28.9M ($0.12/share) vs $10.4M ($0.05) YoY.
Adjusted Op EBITDA $67M (28% rev) vs $71.4M (37%) YoY; decline due to inflation, talent costs, pricing headwinds.
Cash flow from ops $55M (9th consecutive positive qtr); cash $175M at quarter end.
Post quarter, NJ adult-use sales began Apr 21; RISE Bloomfield & Paterson among first stores.
Gross margin 51% vs 57% YoY; SG&A improved to 28% of revenue from 31%.

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