Filing Flows › Green Thumb Industries (GTBIF) › Q2 2026 › vs Q2 2025
Green Thumb Industries (GTBIF) Q2 2026 vs Q2 2025 (year over year)
Green Thumb Industries's revenue rose $13.4M (+5%) from $293M in Q2 2025 to $307M in Q2 2026. Gross margin 45.0% against 49.9% (-4.9 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 45.0% | 49.9% | -4.9 pts |
| Operating margin | 6.5% | 13.4% | -6.9 pts |
| Net margin | 1.6% | -0.2% | +1.8 pts |
| Free cash flow margin | 2.9% | 12.8% | -9.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $307M | $293M | $13.4M | +5% |
| Gross profit | $138M | $146M | −$8.4M | -6% |
| Cost of revenue | $169M | $147M | $21.8M | +15% |
| Operating profit | $20.0M | $39.4M | −$19.5M | -49% |
| Operating expenses | $118M | $107M | $11.1M | +10% |
| Pre-tax earnings | $15.9M | $22.3M | −$6.4M | -29% |
| Other expense, net | $4.0M | $17.1M | −$13.1M | -77% |
| Loss borne by minority interests | $1.5M | −$1.4M | $2.8M | — |
| Net earnings | $4.9M | −$645K | $5.5M | — |
| Income tax | $12.5M | $21.6M | −$9.1M | -42% |
| Operating cash sources | $48.7M | $41.0M | $7.7M | +19% |
| Depreciation & amortization | $33.2M | $29.7M | $3.5M | +12% |
| Share-based compensation | $10.6M | $12.0M | −$1.3M | -11% |
| Working capital & other | $19.7M | −$15.5M | $35.1M | — |
| Operating cash flow | $29.0M | $56.4M | −$27.4M | -49% |
| Free cash flow (OCF − capex) | $8.8M | $37.4M | −$28.7M | -77% |
| Capital expenditures | $20.2M | $19.0M | $1.2M | +6% |
Questions
How much did Green Thumb Industries's revenue grow year over year in Q2 2026?
Green Thumb Industries's revenue rose $13.4M (+5%) from $293M in Q2 2025 to $307M in Q2 2026. Gross margin 45.0% against 49.9% (-4.9 pts).