Green Thumb Q1 revenue up 2% to $249M; net income falls to $9M from $28.9M

Green Thumb Industries Inc.

2023-Q1 EPS reported $0.04 revenue$248,536,000

Revenue of $248.5M, up 2.4% YoY; retail revenue up 9.4% and comparable sales up 6.3% on 73 stores.
GAAP net income $9.1M ($0.04 per share) vs $28.9M ($0.12) prior year; margin decline from price compression.
Adjusted EBITDA $76.2M (30.7% of revenue) up 14% YoY from $67.0M (27.6%).
Cash from operations $75M; cash balance $185M providing optionality for investments.
SG&A increased to $80.5M (32.4% of revenue) from $68.4M (28.2%) due to prior year acquisition credit.

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