Green Thumb Industries (GTBIF) reported net revenue of $17.17 million in the third quarter of 2018, a ~344% rise YoY (year-over-year) and a 26% rise on a sequential basis.
Analysts estimate that in the fourth quarter of 2018, Green Thumb Industries will generate revenue of $23.62 million, a ~38% sequential rise. Analysts estimate that Green Thumb Industries’ net revenue in 2018 will be ~$66.97 million.
Charlotte’s Web Holdings (CWBHF), Green Thumb Industries’ peer in the cannabis market, reported revenue of $17.74 million in the third quarter of 2018. Analysts expect the company to generate net revenue of $70.52 million in 2018.
Green Thumb Industries’ cost of sales amounted to $9.3 million in the third quarter of 2018 compared to $1.6 million in the same period last year.
In the third quarter of 2018, Green Thumb Industries reported general and administrative, sales and marketing, and depreciation and amortization expenses of $12.8 million, $439,259, and $634,310, respectively, compared to $2.8 million, $35,079, and $28,688, respectively, in the third quarter of 2017.
In the third quarter of 2018, Green Thumb Industries reported net income and EPS of -$3.3 million and -$0.02, respectively. Wall Street analysts expect Green Thumb Industries to report net income of -$22.43 in 2018. Analysts expect the company’s fourth-quarter net income to be ~-$2.5 million.
The company’s net cash and cash equivalents grew to $149.8 million at the end of the third quarter of 2018 from $29.6 million at the end of 2017.