Green Thumb Industries is the Chicago cannabis company Ben Kovler founded in 2014. It makes and distributes RYTHM, Dogwalkers, incredibles, Beboe, &Shine, Doctor Solomon's and Good Green, and it runs RISE Dispensaries, a chain of more than 120 stores across 14 U.S. markets.
The scale shows up in the filings. On August 4, 2026, Green Thumb reported $306.7 million in second-quarter revenue and about 4,900 employees. The brand names on its packages, though, now belong to a separate public company that Kovler also runs.
From a Mundelein dispensary to the Canadian Securities Exchange
Green Thumb began operating in 2015, after it received an Illinois medical cannabis license. Its first dispensary opened in Mundelein, Illinois. Kovler holds a philosophy, politics and economics degree from Pomona College and an MBA from the University of Chicago, and he remains founder, chairman and CEO. The company's own history notes that he voted for California's Proposition 215 in 1996.
The subordinate voting shares began trading on the Canadian Securities Exchange on June 13, 2018, under the ticker GTII. They also trade on the OTCQX Best Market as GTBIF. Headquarters sit at 325 W. Huron Street in Chicago.
Fourteen markets and twenty manufacturing sites
The 2025 annual report lists 14 markets: California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Virginia. At the end of 2025, the company ran 20 owned manufacturing facilities and 113 retail locations.
New York got a ground-up build. In August 2021, Green Thumb bought 38 acres in Warwick for a cultivation and processing facility, and it broke ground there on September 9, 2021.
Virginia is the next swing. Green Thumb has operated there since 2021 and holds one of five vertically integrated medical cannabis licenses, six RISE dispensaries and a grower-processor facility. Its August 2026 results note that Virginia authorized adult-use sales beginning July 1, 2027. The company also holds a conditional license under Texas' Compassionate Use Program.
Minnesota already paid off. Adult-use sales opened there on September 17, 2025, and Green Thumb named Minnesota retail as the main driver of its second-quarter 2026 revenue growth.
RISE stores, from Carson City to Sparks
RISE is the retail banner. Store No. 100 opened in Carson City, Nevada, on November 23, 2024. The chain passed 120 locations in 2026, adding adult-use sales at RISE Paramus in New Jersey on July 13 and opening RISE Hanover in Pennsylvania on July 31.
Sparks came next. On August 18, 2026, Green Thumb announced its 13th Nevada store, at 1530 S. Stanford Way. It runs 8 a.m. to 10 p.m. daily, delivers orders of $50 or more, and set a September 5 grand opening with a food truck, steel drum music and gift bags for the first 100 guests.
“We are proud to open our newest RISE Dispensary in Sparks, our 13th location in Nevada,” said Anthony Georgiadis, Green Thumb's president. Across the chain, RISE offers home delivery, virtual pharmacist consultations and mobile pre-ordering, depending on the market.
RYTHM, Dogwalkers and five more house brands
The 2025 annual report says Green Thumb's products span flower, pre-rolls, concentrates, vapes, capsules, tinctures, edibles and topicals. The roster breaks down like this:
- RYTHM: flower, vapes, pre-rolls and concentrates, built around music, with “Find your RYTHM” as its line.
- Dogwalkers: pre-rolls, with a portion of proceeds from every product going to animal shelters.
- incredibles: “the Credible Edible,” covering chocolates, gummies, mints and tarts.
- Beboe: “Add a little sparkle” is the tagline on this luxury line.
- Good Green: “solid weed at a solid price” is the pitch for the value brand.
- Doctor Solomon's: “Experience nature + science” is the tagline for this formulation-driven line.
- &Shine: “Shine on” is the sign-off for a brand sold on RISE menus.
Headset's 2026 read on RYTHM and Dogwalkers
Headset tracked RYTHM in 1,112 licensed dispensaries across 14 states in August 2026, with 1,837 SKUs and sales up 19.5% year over year. It ranked No. 1 in Illinois and New Jersey pre-rolls, No. 2 in Illinois, Nevada and Ohio flower and No. 3 in Maryland flower. The top seller was an eighth of Animal Face flower.
Dogwalkers, a pre-roll-only brand, sat in 1,004 dispensaries across 15 states in July 2026, 184 of them in Illinois. Headset ranked it No. 3 in Illinois pre-rolls, and its best seller was a Mini Dog Animal Face five-pack. Green Thumb said in August 2026 that it held the No. 1 brand share position in Illinois, Pennsylvania, Ohio, Maryland and Minnesota.
Who owns RYTHM and the brand IP now
Green Thumb no longer owns its brand names outright. It sold the intellectual property to Agrify Corporation, since renamed RYTHM, Inc. (Nasdaq: RYM), in deals that closed May 20, 2025 and August 27, 2025. The August deal paid $50 million in cash for the rights to RYTHM, Beboe, Dogwalkers, Doctor Solomon's, &Shine and Good Green. The incredibles IP and Green Thumb's hemp business went to RYTHM in a separate 2025 sale.
Green Thumb kept making the products under an exclusive license through its GTI Core subsidiary, and it holds a $45 million secured convertible note issued by Agrify. An amendment effective April 1, 2026 swapped sales-based royalties for a fixed $70 million annual fee that rises each year at twice the Consumer Price Index.
mg Magazine reported that as of March 10, 2026, Green Thumb controlled 49.99% of RYTHM through common shares, convertible notes and warrants, with Kovler serving as RYTHM's chairman and CEO. “Green Thumb shareholders are positioned to benefit from RYTHM's long-term growth and value creation,” Kovler said of the amendment.
The second quarter of 2026 by the numbers
Revenue rose 4.6% year over year to $306.7 million in the quarter ended June 30, 2026. Net income came to $4.9 million, or $0.02 per share. Normalized EBITDA reached $84.3 million, operating cash flow was $29 million, and Green Thumb closed the quarter with $283.6 million in cash.
It also bought back about 7.9 million subordinate voting shares for $48.3 million in the quarter, bringing its running total to roughly 29.5 million shares for $203.4 million. TIME named Green Thumb to its America's Best Companies 2026 list, where the company says it ranked highest among cannabis companies. Kovler pointed to “real momentum in the business.”
For adults 21 and over.