Filing Flows › Green Thumb Industries (GTBIF) › Q2 2026 › vs Q1 2026
Green Thumb Industries (GTBIF) Q2 2026 vs Q1 2026 (quarter over quarter)
Green Thumb Industries's revenue rose $6.5M (+2%) from $300M in Q1 2026 to $307M in Q2 2026. Gross margin 45.0% against 47.9% (-2.9 pts).
Green Thumb Industries, Q2 2026: revenue $307M (+5% year over year), operating margin 6.5%, net earnings $4.9M, operating cash flow $29.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 45.0% | 47.9% | -2.9 pts |
| Operating margin | 6.5% | 13.6% | -7.1 pts |
| Net margin | 1.6% | 5.1% | -3.5 pts |
| Free cash flow margin | 2.9% | 19.0% | -16.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $307M | $300M | $6.5M | +2% |
| Gross profit | $138M | $144M | −$5.8M | -4% |
| Cost of revenue | $169M | $157M | $12.3M | +8% |
| Operating profit | $20.0M | $40.7M | −$20.8M | -51% |
| Operating expenses | $118M | $103M | $15.0M | +15% |
| Pre-tax earnings | $15.9M | $63.1M | −$47.2M | -75% |
| Other expense, net | $4.0M | −$22.4M | $26.4M | — |
| Loss borne by minority interests | $1.5M | $350K | $1.1M | +315% |
| Net earnings | $4.9M | $15.4M | −$10.5M | -68% |
| Income tax | $12.5M | $48.1M | −$35.6M | -74% |
| Operating cash sources | $48.7M | $58.3M | −$9.7M | -17% |
| Depreciation & amortization | $33.2M | $32.4M | $763K | +2% |
| Share-based compensation | $10.6M | $10.5M | $101K | +1% |
| Working capital & other | $19.7M | −$17.5M | $37.1M | — |
| Operating cash flow | $29.0M | $75.8M | −$46.8M | -62% |
| Free cash flow (OCF − capex) | $8.8M | $56.9M | −$48.2M | -85% |
| Capital expenditures | $20.2M | $18.9M | $1.4M | +7% |
Questions
How much did Green Thumb Industries's revenue grow quarter over quarter in Q2 2026?
Green Thumb Industries's revenue rose $6.5M (+2%) from $300M in Q1 2026 to $307M in Q2 2026. Gross margin 45.0% against 47.9% (-2.9 pts).