Filing Flows › Green Thumb Industries (GTBIF) › Q2 2026
Green Thumb Industries (GTBIF) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Green Thumb Industries (GTBIF) reported revenue of $307M for the second quarter 2026 (Q2 2026), +5% from a year earlier and +2% from the quarter before. Operating margin was 6.5%, net earnings $4.9M (1.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $307M | +2% | +5% |
| Gross profit | $138M | -4% | -6% |
| Operating profit | $20.0M | -51% | -49% |
| Net earnings | $4.9M | -68% | — |
| Operating cash flow | $29.0M | -62% | -49% |
| Free cash flow | $8.8M | -85% | -77% |
What changed
Revenue was $306.7M in Q2 2026, up 5% year over year and up 2% from the previous quarter.
Gross margin was 45.0%, down 4.9 points from Q2 2025. Operating profit was $20.0M, a 6.5% margin (down 6.9 points year over year). Operating profit fell $19.5M even though revenue rose $13.4M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 10% against revenue growth of 5%. Net earnings were $4.9M ($3.4M including minority interests, which bore $1.5M of losses). The effective tax rate was 78.5%.
Operating cash flow was $29.0M (down 49% year over year), 847% of net income including minority interests. Non-cash charges added back $33.2M of depreciation and amortization and $10.6M of share-based compensation. Working capital and other items used $18.2M. Capital expenditures of $20.2M left free cash flow of $8.8M.
Questions
What was Green Thumb Industries' revenue in the second quarter 2026?
Green Thumb Industries (GTBIF) reported revenue of $307M for the second quarter 2026 (Q2 2026), +5% from a year earlier and +2% from the quarter before.
Was Green Thumb Industries profitable in the second quarter 2026?
Operating profit was $20.0M (6.5% of revenue) and net earnings $4.9M.