| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 217.92 | 4.7% | 7.7% |
| Total Income | 217.92 | 4.7% | 7.7% |
| Expenditure | 214.78 | 10.1% | 22.0% |
| PBT | -10.49 | 69.2% | 165.6% |
| Net Profit | -13.41 | 24.8% | 30.0% |
| OPM | 1.44% | 4.85pp | 11.52pp |
| NPM | -6.15% | 2.41pp | 3.31pp |
| EPS | -0.18 | 260.0% | 260.0% |
Verano Holdings Corp. Announces Strong Second Quarter 2026 Financial Results
05 Aug 2026 · 5 Aug, 4:47 pm
Summary
Verano Holdings Corp. announced strong financial results for the second quarter ended June 30, 2026, with revenues reaching $218 million, marking an 8% increase year-over-year and a 5% increase sequentially. The company reported a gross profit of $100 million (46% of revenue) and Adjusted EBITDA of $51 million (24% of revenue). Management highlighted organic growth, improved operational cash flow, and strategic initiatives including a reverse stock split and share repurchases as key drivers for the quarter's performance. The company also noted retail expansion and upcoming product innovation for the remainder of the year.
Key Highlights
- 1
Verano Holdings Corp. reported second quarter 2026 revenues of $218 million, an increase of 5% versus the prior quarter and 8% year-over-year.
- 2
The company achieved a gross profit of $100 million, representing 46% of revenue for the second quarter of 2026.
- 3
Adjusted EBITDA for the second quarter of 2026 was $51 million, or 24% of revenue.
- 4
Net cash provided by operating activities was $31 million in the second quarter of 2026, an increase from $11 million in the prior year period.
- 5
Verano expanded its Florida retail footprint with the opening of its 85th Florida dispensary and 162nd location nationwide.
- 6
The company completed a 1-for-5 reverse stock split to advance its path towards a prospective U.S. stock exchange listing.
Management Comments
George Archos
We are thrilled to report strong second quarter results highlighted by organic growth, improved operational cash flow, and our third consecutive quarter of revenue gains that also outperformed the prior year period. During the quarter, we also executed key strategic pillars to deepen our engagement in the U.S. capital markets and U.S. exchange opportunities, including repurchasing $2 million of Company stock and completing a 1-for-5 reverse stock split, while leveraging the ongoing strength of our retail operations and product portfolio. As we continue fortifying the balance sheet, with additional retail expansion and new product innovation planned for the remainder of the year, we are in a strong position to accelerate further business momentum in what may be a pivotal year for Verano and the industry at large.
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