A man has been found not guilty of murdering a teenage drug dealer in the aftermath of a botched meeting.

Ryan John Howes had gone to buy a small amount of cannabis from 16-year-old Michael Brack at shops in Benowa on the Gold Coast in November 2015.

The deal went wrong and Michael was stabbed in the neck with a kitchen knife. He staggered up the street but died on the front steps of a neighbour's house.

Two days later, Mr Howes was found hiding in the roof of his grandmother's house and charged with murder.

After a seven-day trial, the jury today returned with a verdict of not guilty, believing Mr Howes' version of events that he was scared he was about to be shot when he lashed out in self-defence.

Michael's parents, who had waited two years to see their son's killer brought to justice, today gasped as the verdict was read out.

They slammed the way their son was portrayed during the trial, asking that he be remembered as someone who made people laugh and was likely caught up in something he was too young to understand.

"At the end of the day he was an innocent victim," mother Anja Brack said.

"Unfortunately Michael was not here to defend himself against the allegation made by the defence.