GTBIF earnings analysis
What we found in GTBIF's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Green Thumb delivered Q2 revenue of $306.683 million, up 4.6% year over year, and EPS of $0.02, above the supplied $0.01 consensus. The key offset was gross margin declining to 45.0% from 49.9%, a 490-basis-point contraction. The filing also shows sizable shareholder returns, with 13.439 million shares repurchased during the first half and $62.3 million of remaining authorization, but it provides no formal numeric forward guidance.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue grew 4.6% and beat consensus
- Second-quarter revenue was $306.683 million, up 4.6% year over year and above the $299.990 million consensus estimate supplied with the earnings row.
- EPS exceeded consensus
- Reported EPS was $0.02, exceeding the $0.01 consensus estimate supplied with the earnings row.
- Large repurchase program expansion
- The company repurchased 13,438,787 Subordinate Voting Shares during the first six months of 2026 at an average price of $5.78 per share. The Board expanded repurchase authorization to $150.0 million on April 21, 2026.
- Meaningful buyback capacity remains
- Approximately $62.3 million remained available under the repurchase program at June 30, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Gross-margin compression
- Gross margin was 45.0%, down 490 basis points from 49.9% in the prior-year quarter, indicating substantial profitability pressure despite 4.6% revenue growth.
- Continued capital deployment to buybacks
- The company used capital for 13,438,787 share repurchases at $5.78 per share in the first six months, while $62.3 million of authorization remained at June 30, 2026; further buybacks could reduce liquidity available for operations or investment.
- No updated risk-factor disclosure
- Item 1A contains no newly enumerated quarterly risk-factor changes and instead refers investors to the risk factors in the 2025 Form 10-K. Accordingly, this 10-Q does not add quantified new risk disclosures.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.02
- Gross margin
- 45.0%
What they said about what is next.
The 10-Q does not provide formal quantitative revenue or EPS guidance. Management’s outlook is deferred to other communications; no numeric forward targets were disclosed in the filing.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 6, 2026
- Green Thumb Industries reported Q1 2026 results with revenue of $300.2 million, slightly above expectations, and EPS of $0.07, outperforming estimates significantly. The company experienced notable year-on-year growth…
- 10-K · February 25, 2026
- Green Thumb Industries reported solid financial results for 2025, with total revenues reaching $1,175 million, a 3% increase from the prior year. The company achieved net income of $114 million, a 56% year-over-year…
- 10-Q · November 5, 2025
- Green Thumb Industries Inc. (GTBIF) reported third-quarter revenues of $291.37 million, slightly exceeding expectations of $290.66 million. Earnings per share matched estimates at $0.04, indicating stable performance…
- 10-Q · August 7, 2025
- Green Thumb Industries reported a solid Q2 2025 with actual EPS of $0.05 surpassing estimates of $0.03 by 66.67%, and revenue of $293.3 million exceeding expectations of $280.5 million, marking a surprise of 4.56%. The…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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