Green Thumb Q4 revenue $311M (+5.7% YoY); net income $83.2M; guides Q1 down mid-single digits

Green Thumb Industries Inc.

2025-FY EPS reported $0.48 revenue$1,175,295,000

Revenue of $311.1M (+5.7% YoY); full-year revenue $1.2B (+3.4%).
GAAP net income of $83.2M ($0.35/diluted) vs $12.7M in Q4 2024; includes $125.9M fair value gain on warrants.
Normalized EBITDA $100.2M (32.2% of revenue) vs $97.8M (33.2%) a year ago.
Cash from operations $90M; ended quarter with $274M cash; repurchased 2M shares for $14.1M in Q4.
Q1 2026 revenue expected sequentially down mid-single digits due to pricing pressure and seasonality.

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