Quarterly ResultApr 30, 2026, 07:12 AM
VRNO Q1 Revenue $208M; Net Loss $(18)M; Authorizes $20M Share Buyback
AI Summary
Verano Holdings Corp. reported Q1 2026 financial results with $208 million in revenue, marking a 1% sequential increase, and a net loss of $(17.8) million. The company's Board of Directors also authorized a share repurchase program of up to $20 million, representing 5% of its issued and outstanding shares. Management expressed optimism for 2026, citing the historic cannabis rescheduling announcement and strategic growth initiatives, including securing a new $195 million credit facility.
Key Highlights
- Board authorized a $20 million share repurchase program for up to 18,219,090 shares.
- Q1 2026 revenue was $208 million, an increase of 1% quarter-over-quarter.
- Net Loss attributable to Verano Holdings Corp. was $(17.8) million.
- Adjusted EBITDA for Q1 2026 was $49 million, or 24% of revenue.
- Net cash provided by operating activities was $19 million, up from $2 million year-over-year.
- Secured a new $195 million credit facility and upsized revolving credit facility to $100 million.
- Expanded Florida retail footprint with two new MÜV dispensaries, reaching 162 locations nationwide.
- Reiterated 2026 capital expenditures guidance range of $30 million to $50 million.