GTI Q4 Revenue Increases 13% Sequentially to $177 Million With… – New Cannabis Ventures

Green Thumb Industries Reports Record Results for the Fourth Quarter and Full Year 2020

CHICAGO and VANCOUVER, British Columbia, March 17, 2021 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“Green Thumb,” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today reported its financial results for the fourth quarter and full-year ended December 31, 2020. Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”) and all currency is in U.S. dollars.

Highlights for the quarter ended December 31, 2020:

Revenue increased 12.8% sequentially and 133.8% year-over-year to $177.2 million Second consecutive quarter of positive GAAP net income, delivering $22.5 million or $0.11 per basic and diluted share Adjusted Operating EBITDA grew 23.1% sequentially and 374.0% year-over-year to $65.4 million or 36.9% of revenue Fourth consecutive quarter of positive cash flow from operations Subsequent to quarter end, raised approximately $156.0 million in sales of U.S. Securities and Exchange Commission (“SEC”) registered shares

Highlights for the year ended December 31, 2020:

Revenue increased 157.2% to $556.6 million Positive GAAP net income of $15.0 million or $0.07 per basic and diluted share, compared with a GAAP net loss of $59.1 million or a loss of $0.31 per basic and diluted share in the prior year Adjusted Operating EBITDA grew 546.9% to $179.6 million or 32.3% of revenue Strong balance sheet and disciplined capital allocation to support continued future growth Secured $25 million in an amended sale and leaseback transaction with Innovative Industrial Properties (“IIP”) for its Toledo, Ohio manufacturing facility to fund the construction of a cultivation facility on the property

See definition and reconciliation of non-GAAP measures elsewhere

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