Quarterly ResultMay 12, 2026, 07:32 AM
Vireo Growth Q1 GAAP Revenue $106.2M, up 333.5% YoY; M&A drives growth
AI Summary
Vireo Growth Inc. reported strong financial results for Q1 2026, with GAAP revenue increasing 333.5% year-over-year to $106.2 million and Adjusted EBITDA rising 395.5% to $32.7 million. This growth was significantly driven by recently closed M&A transactions, including Schwazze, Eaze, and Hawthorne. The company also announced a definitive agreement to acquire FLUENT and form a joint venture with Glass House Brands, positioning it as the 4th largest cannabis company on a pro forma basis by revenue.
Key Highlights
- Vireo Growth Q1 GAAP Revenue $106.2M, up 333.5% year-over-year.
- Q1 Adjusted EBITDA $32.7M, a 395.5% increase year-over-year.
- Closed Schwazze acquisition and executed PharmaCann MSA during the quarter.
- Closed Eaze and Hawthorne acquisitions subsequent to quarter end.
- Announced definitive agreement to acquire FLUENT and a joint venture with Glass House Brands.
- Company moved to 4th largest cannabis company on a pro forma basis by revenue.
- Cash on hand was $137.8M as of March 31, 2026.
- DOJ reclassified certain marijuana products to Schedule III.