MergerAug 11, 2026, 07:17 AM
Vireo Growth to Merge with Planet 13; Q2 Revenue Up 335% to $209.3M
AI Summary
Vireo Growth Inc. reported strong second-quarter 2026 financial results, with GAAP revenue surging 335.1% to $209.3 million, largely driven by its aggressive acquisition strategy. The company announced a significant all-stock merger agreement with Planet 13 Holdings Inc. and detailed numerous other acquisitions and strategic expansions, including entries into new states like Pennsylvania, Massachusetts, New Jersey, Illinois, and Ohio. Vireo also secured a new $65 million revolving credit facility, underscoring its continued focus on growth and market leadership in the cannabis and agribusiness sectors.
Key Highlights
- Vireo Growth Inc. announced an all-stock merger agreement with Planet 13 Holdings Inc.
- Q2 2026 GAAP revenue increased 335.1% year-over-year to $209.3 million.
- Q2 2026 proforma revenue reached $254.9 million, reflecting recent acquisitions.
- Q2 2026 GAAP gross profit rose 367.2% year-over-year to $95.3 million.
- Q2 2026 Adjusted EBITDA increased 212.0% year-over-year to $41.5 million.
- Closed acquisitions of Hawthorne, Eaze, and Bridgewell during Q2 2026.
- Subsequent to quarter-end, closed PharmaCann acquisition and announced acquisition of Cannabist assets.
- Secured a new asset-based revolving credit facility with an initial $65 million commitment, expandable to $105 million.
- Ended Q2 2026 with $122.7 million in cash.
Price Impact
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