Filing Flows › Green Thumb Industries (GTBIF) › Q3 2026
Green Thumb Industries (GTBIF) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Green Thumb Industries (GTBIF) reported revenue of $324M for the third quarter 2026 (Q3 2026), +11% from a year earlier and +6% from the quarter before. Operating margin was 7.7%, net loss $6.7M (2.1% of revenue).
Green Thumb Industries, Q3 2026: revenue $324M (+11% year over year), operating margin 7.7%, net loss $6.7M, operating cash flow $58.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $324M | +6% | +11% |
| Operating profit | $25.1M | +26% | -32% |
| Net earnings | −$6.7M | -236% | -129% |
| Operating cash flow | $58.3M | +101% | -21% |
| Free cash flow | $38.0M | +333% | -33% |
What changed
Revenue was $324.4M in Q3 2026, up 11% year over year and up 6% from the previous quarter.
Gross margin was 45.2%, down 4.2 points from Q3 2025. Operating profit was $25.1M, a 7.7% margin (down 4.9 points year over year). Operating profit fell $11.7M even though revenue rose $33.0M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 13% against revenue growth of 11%. The quarter ended with a net loss of $6.7M, after a profit of $3.4M the previous quarter. Minority interests bore $1.8M of it: to shareholders the quarter was a loss of $4.8M. Net interest and other expense of $3.7M was the main reason.
Operating cash flow was $58.3M (down 21% year over year). Non-cash charges added back $34.2M of depreciation and amortization and $10.4M of share-based compensation. Working capital and other items added $20.3M. Capital expenditures of $20.2M left free cash flow of $38.0M.
Questions
What was Green Thumb Industries' revenue in the third quarter 2026?
Green Thumb Industries (GTBIF) reported revenue of $324M for the third quarter 2026 (Q3 2026), +11% from a year earlier and +6% from the quarter before.
Was Green Thumb Industries profitable in the third quarter 2026?
Operating profit was $25.1M (7.7% of revenue) and net loss $6.7M.