Business
Verano Announces Fourth Quarter and Full Year 2025 Financial Results
Company delivers sequential revenue and margin improvement within guidance in the fourth quarter;...
About this update from Verano Holdings Corp Class A
[{"type":"text","content":"Verano Announces Fourth Quarter and Full Year 2025 Financial Results\nCompany delivers sequential revenue and margin improvement within guidance in the fourth quarter; closes 2025 with top three market share positions1 across all competing categories Newly-announced $195 million credit facility demonstrates Company's ability to access lower-cost capital and secure among the industry’s most favorable terms including maturity date and prepayment flexibility and an initial 9.5% annual interest rate CHICAGO, March 12, 2026 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced its financial results for the fourth quarter and full year ended December 31, 2025, which were prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). Fourth Quarter and Full Year 2025 Financial Highlights   For the Three Months Ended,  For the Year Ended, ($ in thousands) December 31, 2025  September 30, 2025  December 31, 2024  December 31, 2025  December 31, 2024 Revenues, net of Discounts  206,613   202,810   218,206   821,504   878,585 Gross Profit  105,695   95,237   107,534   413,497   443,931 Income (Loss) from Operations  (157,583)  9,277   (303,883)  (107,093)  (237,176)Net Loss Attributable to Verano Holdings Corp. & Subsidiaries  (183,411)  (43,832)  (272,706)  (257,908)  (341,859)Adjusted EBITDA2  55,534   53,109   62,850   229,194   264,454  Fourth Quarter 2025 Financial Highlights Revenues, net of discounts, of $207 million, an increase of 2% versus the prior quarter, and a decrease of 5% year-over-year.Gross profit of $106 million or 51% of revenue.SG&A expenses of $86 million or 42% of revenue.Net Loss of $(183) million or (89)% of revenue.Adjusted EBITDA2 of $56 million or 27% of revenue.Net cash provided by operating activities of $14 million.Capital expen...