Green Thumb Opens Its 24th RISE Dispensary in Florida

Green Thumb Industries opened RISE Dispensary Port St. Lucie on Saturday, expanding its Florida retail network to 24 locations and bringing the RISE brand into St. Lucie County for the first time. The new location is aimed at medical cannabis patients across Florida’s Treasure Coast.

The new location operates from 9 a.m. to 8 p.m. Monday through Saturday and from 11 a.m. to 6 p.m. on Sundays. Green Thumb said the store will carry products from its national portfolio, including RYTHM flower, vapes and concentrates, Dogwalkers pre-rolls, Good Green and &Shine flower, and Doctor Solomon’s tinctures and topicals.

A formal grand opening is scheduled for September 7, when the store opens at 9 a.m. Green Thumb said a portion of profits from the event will benefit Arc of the Treasure Coast, a local nonprofit serving people with disabilities. The company outlined the opening, store hours and community program in its August 22 announcement.

Port St. Lucie adds Treasure Coast coverage

Port St. Lucie gives RISE a retail presence in a part of Florida where the chain did not previously operate. Green Thumb President Anthony Georgiadis described the opening as the company’s first RISE dispensary in St. Lucie County and said the location is intended to serve patients across the Treasure Coast.

Florida operations also extend the vertically integrated model Green Thumb uses elsewhere in the state. The company entered the state in 2018 and operates production facilities in Ocala and Homestead, where it cultivates and manufactures products sold through its Florida retail network. That structure matters because Florida’s medical marijuana system limits cultivation, processing and dispensing to licensed medical marijuana treatment centers.

Under Florida Department of Health rules, licensed medical marijuana treatment centers are the only businesses authorized to cultivate, process and dispense low-THC cannabis and medical marijuana in the state. Its June 19 weekly update listed GTI Florida with 22 dispensing locations. That count provides a state-level reference point before Green Thumb added Port Charlotte in August and now Port St. Lucie.

Green Thumb did not provide a sales forecast, expected patient count or investment figure for the new store. The financial contribution from Port St. Lucie will therefore depend on how quickly the location builds traffic and how product demand develops after opening. The company’s announcement focuses on network expansion and patient access rather than near-term earnings from the site.

Florida footprint grows by two stores in 12 days

Just 12 days earlier, Green Thumb opened RISE Dispensary Port Charlotte as its 23rd Florida location. The Port Charlotte store began serving patients in Southwest Florida on August 10. Adding Port St. Lucie on August 22 lifts the state total to 24.

Two openings in 12 days show Green Thumb continuing to add physical retail points in Florida rather than relying only on existing stores. The company now has RISE locations spread across markets including Tampa, Orlando, Jacksonville, West Palm Beach, Tallahassee, Clearwater, Deerfield Beach, Kendall, Port Orange and several other Florida cities. Green Thumb said the Port St. Lucie store brings its broader owned and managed retail network to more than 120 stores nationally.

Florida remains a medical-use market rather than a recreational one. Customers at RISE Florida stores must qualify under the state medical marijuana program, so the addressable customer base is shaped by patient registrations, physician recommendations and state rules. That makes store placement and local patient access especially important because the company cannot depend on general adult-use walk-in demand.

Green Thumb’s Florida operation also differs from a simple retail rollout because the business must support stores with its own state-regulated cultivation and processing infrastructure. The Ocala and Homestead facilities supply branded products into the same vertically integrated system. As the number of stores grows, the company has more retail outlets through which to sell those products, but it also has to maintain inventory, service levels and regulatory compliance across a larger network.

Florida remains a growth market inside a mixed retail picture

Green Thumb’s August 4 quarterly results provide the financial backdrop for the latest opening. Second-quarter 2026 revenue was $306.7 million, up 4.6% from a year earlier. The company said overall retail revenue increased 3.6% and cited continued growth in Florida, along with Connecticut and Ohio, as one of the contributors to the quarter’s revenue increase.

Comparable sales at stores open at least 12 months fell 1.1% from the prior-year period on a base of 103 stores, the same earnings report showed. That creates an important distinction for investors: Green Thumb is still expanding its network and generating overall retail growth, but performance at mature locations was not uniformly stronger. Management also said price compression and increased competition affected several markets during the quarter.

Green Thumb ended June with $283.6 million in cash and cash equivalents and generated $29.0 million of operating cash flow during the second quarter. Normalized EBITDA was $84.3 million, or 27.5% of revenue. Those figures provide broader financial context for a company that is continuing to open stores while also repurchasing shares and investing across multiple state markets. Green Thumb did not say whether the Port St. Lucie opening required any material incremental capital beyond its normal retail expansion program.

For Florida specifically, the new location adds another route to patients in a state management already identified as contributing to growth. The key business question is not simply the store count, but whether newer locations can add sales without weakening productivity across the existing base. Port Charlotte and Port St. Lucie will offer a fresh test of that balance during the second half of 2026.

Port St. Lucie’s next scheduled milestone is the September 7 grand opening. Green Thumb plans promotions, giveaways and a local food truck alongside the Arc of the Treasure Coast benefit.