The following is a summary of the Green Thumb Industries, Inc. (GTBIF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• GTBIF reported Q2 2024 revenue of $280 million, up 11% year-over-year.

• EBITDA was over $90 million.

• Cash flow from operations stood at $20 million after substantial tax payments.

• Net income for the quarter was $21 million, or $0.09 per share, increased from $13 million, or $0.05 per share, in the previous year.

• A share repurchase program remains active, with 1.6 million shares bought back this quarter for about $20 million.

Business Progress:

• Continues to expand with major focus in Ohio, preparing for adult use sales in all five RISE dispensaries.

• Launched Beboe brand in New York and plans for expansion into New Jersey.

• For the remainder of 2024, investment in CapEx is expected to be around $50 million to $60 million, focusing on expanding retail and wholesale facilities across multiple states.

• Organizing the Miracle in Mundelein, a two-day cannabis festival in Illinois.

Opportunities:

• Potential market expansion driven by regulatory changes if cannabis is rescheduled, which would enable easier tax payments and broader market acceptance.

• Growth prospects in emerging cannabis markets like Ohio and planned expansion in states yet to establish adult use programs such as Virginia, Minnesota, and Pennsylvania.

Risks:

• Price compression and inflationary pressures in most markets, combined with heightened national anxiety around upcoming elections could affect consumer spending and market dynamics.

• Regulatory risks pending on decisions by DEA and IRS affecting the cannabis market.

More details: Green Thumb Industries Inc. IR

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