Green Thumb Industries

What Green Thumb Industries does

Green Thumb Industries (GTI) is a vertically integrated U.S. cannabis consumer packaged goods company headquartered in Chicago, Illinois, and incorporated in British Columbia, Canada. Founded in 2014 and publicly traded on the Canadian Securities Exchange (June 2018) under OTCQX ticker GTBIF, GTI operates 113 RISE Dispensary retail locations and 20 manufacturing facilities across 14 U.S. states, spanning more than 40% of the addressable legal cannabis market. The company sells both medical and adult-use cannabis products to qualifying patients and adult consumers (21+) through owned retail and wholesale channels, with operations spanning California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Virginia.

GTI's core product is a portfolio of branded cannabis SKUs across flower, pre-rolls, vapes, concentrates, and edibles. The brand portfolio includes RYTHM (premium flower and concentrates), Dogwalkers (pre-rolls, with proceeds supporting animal shelters), incredibles (edibles with 100% pure cannabis oil dosing), Beboe (luxury low-THC), Good Green (value tier), Doctor Solomon's (medical/scientific formulations), and &Shine (lifestyle/occasion). The underlying technology is largely operational: in-house cultivation, extraction, manufacturing, and ERP-backed retail systems, with branded marketing and a points-based RISE Rewards loyalty program (1 point per $1 spent). Distribution is primarily through owned dispensaries, supplemented by e-commerce ordering via risecannabis.com, wholesale brand licensing (including a $70M fixed-fee annual arrangement with RYTHM, Inc.), and selective third-party retail partnerships.

GTI's revenue model combines direct retail transactions across 113 dispensaries, wholesale branded product distribution, and predictable licensing income. FY2025 revenue reached $1.2 billion with $348.4M in normalized EBITDA (31% margin) and $114.2M in GAAP net income, marking six consecutive years of positive EPS. The company holds $274.3M in cash and a $189M syndicated credit facility led by Valley National Bank. GTI has filed for DEA registration following the April 2026 Schedule III rescheduling, holds a conditional medical cannabis license in Texas, and operates under a $150M share repurchase authorization, signaling both balance-sheet strength and active capital return.

Name

Green Thumb Industries

Legal name

Green Thumb Industries Inc.

Website

https://gtigrows.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Green Thumb Industries is a vertically integrated U.S. cannabis operator that operates 113 RISE Dispensaries and 20 manufacturing facilities across 14 states, selling medical and adult-use cannabis products under branded CPG labels including RYTHM, incredibles, Beboe, Good Green, Dogwalkers, Doctor Solomon's, and &Shine.

Ownership category

akta.pro rank

Product category

Cannabis Consumer Packaged Goods

NAICS

Medicinal and Botanical Manufacturing (325411), Health and Personal Care Retailers (456)

SIC

Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Cannabis Dispensary + Ancillary Retail (Accessories, CBD/Hemp, Merchandise) (CRANAFAH)

akta.pro secondary industries

Medical Cannabis Dispensaries (CRANAFAB), Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG)

Keywords

• Cannabis consumer packaged goods
• Cannabis retail dispensaries
• Medical cannabis products
• Cannabis cultivation manufacturing
• Branded cannabis products

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Retail Cannabis Sales: Revenue from operating 113 RISE Dispensary retail locations across 14 U.S. states, serving both medical cannabis patients and adult-use consumers. Q4 2025 revenue was $311.1 million with full-year 2025 revenue of $1.2 billion.
2. Licensing Royalties: The company amended its licensing agreement with Rythm, shifting from revenue-based royalties to a flat $70 million annual fee indexed to CPI, providing predictable revenue and stability.
3. Branded Consumer Products: Revenue from proprietary branded cannabis products including flower, concentrates, edibles, and other cannabis-infused products manufactured at 20 internal facilities.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Green Thumb Industries is a vertically integrated cannabis consumer packaged goods company that cultivates, manufactures, and distributes branded cannabis products including flower, pre-rolls, vapes, concentrates, edibles, and topicals under seven proprietary brands (RYTHM, Dogwalkers, incredibles, Beboe, Good Green, Doctor Solomon's, &Shine). The company sells these products primarily through its 113 company-owned RISE Dispensaries across 14 U.S. states, serving both medical cannabis patients and adult-use consumers, supported by 20 in-house manufacturing facilities.

Product overview

Green Thumb Industries is a vertically integrated cannabis company operating across 15 U.S. states, covering over 40% of the addressable legal cannabis market. The company operates through two main channels: its retail brand RISE (dispensaries) and its portfolio of consumer packaged goods cannabis brands. The RISE retail network spans 113+ dispensaries across 14 states, serving both medical patients and adult-use consumers. The branded products portfolio includes eight distinct brands: RYTHM (premium flower and concentrates), Dogwalkers (pre-rolls), incredibles (edibles), Beboe (luxury/specialty), Good Green (value), Doctor Solomon's (science-focused), and &Shine (lifestyle). The company also operates 20 manufacturing facilities and maintains a vertically integrated model from cultivation through retail.

Differentiator

Problem solved

Functional benefit

Brands

• RYTHM: Premium cannabis brand offering a wide variety of strains across different products including flower, vape, pre-rolls and concentrates.
• Dogwalkers
• incredibles
• Beboe
• Good Green
• Doctor Solomon's
• &Shine

Products and services

• RISE Dispensaries

Quantifiable outcome

• Q1 2026 revenue of $300.2 million, a 7.5% year-over-year increase
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Rythm, Inc.coreOEM/ Whitelabel/ Licensing Partner · 1 April 2026Rythm amended its licensing agreements with Green Thumb Industries, effective April 1, 2026, changing from revenue-based royalties to a fixed annual fee of $70 million subject to CPI-based increase. The arrangement provides predictable revenue for both parties and supports Rythm's Nasdaq listing while maintaining GTI's licensing rights for multiple brands.
• Magnolia BakeryminorStrategic or Co-development PartnerMagnolia Bakery and incredibles (a Green Thumb brand) expanded their partnership to bring cannabis-infused chocolate treats to RISE Dispensaries in New York and New Jersey, combining premium confectionery with cannabis products.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Trulieve Cannabis Corp. Large U.S. multi-state cannabis operator with vertically integrated retail, cultivation, and branded products across numerous states. Direct head-to-head competitor to GTI in core markets and frequently cited by management as a primary peer.
• Curaleaf Holdings, Inc. One of the largest U.S. MSOs operating retail dispensaries, cultivation, and a broad branded product portfolio across 17+ states. Closely comparable vertically integrated model and direct competitor named by GTI's own materials.
• Cresco Labs: Multi-state cannabis operator with retail (Sunnyside) and wholesale brands; was jointly awarded the Texas Phase II conditional license with GTI, making it a direct MSO peer and co-expansion partner in adjacent state strategies.
• Verano Holdings Corp. Vertically integrated U.S. cannabis MSO operating Zen Leaf dispensaries and proprietary brands (MentaL, Encore, Avexia) across 13+ states. Comparable scale and footprint to GTI with overlapping brand and retail strategy.
• Jushi Holdings Inc. Multi-state cannabis operator with retail (Beyond Hello) and cultivation in select states. Smaller scale than GTI but operates a similar vertically integrated model with branded consumer products.

Broad incumbents

• Tilray Brands, Inc. Large-cap diversified cannabis and consumer products company with U.S. MSO operations plus Canadian and international cannabis exposure. A broader incumbent with overlapping U.S. retail footprint but also meaningful non-cannabis beverage/CPG segments.
• Canopy Growth Corporation: Canadian-headquartered cannabis incumbent with U.S. optionality through Acreage Holdings. Comparable branded products portfolio and cultivation expertise, though U.S. retail scale is materially smaller than GTI.

Emerging players

• OrganiGram Holdings Inc. Canadian licensed producer with growing U.S. presence and a focus on premium flower and vaporizer products. Comparable in branded cannabis CPG approach but smaller U.S. retail footprint.
• MariMed Inc. Multi-state cannabis operator with branded products (Nature's Heritage, Betty's Eddies, Bubby's Baked) and licensed retail/dispensary operations. Smaller-scale MSO with overlapping brand-plus-license model.

Others

• Innovative Industrial Properties, Inc. Real estate investment trust specializing in sale-leaseback financing of regulated cannabis facilities. Not a competitor but a key capital-markets enabler whose tenant base includes GTI's MSO peers; useful as a cannabis-sector read-through for GTI's expansion financing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/gtigrows
• LinkedInlinkedin.com/company/gtigrows
• Instagraminstagram.com/gtigrows

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Green Thumb Industries