Vireo Growth Inc (VREOF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.776 Good morning and welcome to Vireo Growth, Inc.' 's first quarter 2025 results call. 00:00:04.776 -- 00:00:08.720 The company would like to remind everyone that today's conference call may contain forward-looking 00:00:08.720 -- 00:00:12.343 statements within the meaning of U.S. and Canadian securities laws. 00:00:12.343 -- 00:00:16.007 These statements are based on management's current expectations and involves risk and 00:00:16.007 -- 00:00:19.691 uncertainties that could differ materially from actual events and those described in 00:00:19.691 -- 00:00:22.093 such forward-looking statements. 00:00:22.093 -- 00:00:26.258 For more information on forward-looking statements, please refer to cautionary note regarding 00:00:26.258 -- 00:00:29.258 forward-looking statements in the company's earnings release. 00:00:29.258 -- 00:00:33.063 I will now hand the call over to Chief Executive Officer John Maserakis. 00:00:33.063 -- 00:00:35.606 Please go ahead, sir. 00:00:35.606 -- 00:00:40.992 Thank you. Good morning, everyone. I'll begin with a brief summary of our Q1 performance 00:00:40.992 -- 00:00:45.578 as we're marching towards closing our pending merger transactions, and then Tyson will 00:00:45.578 -- 00:00:48.782 provide some extra detail on the financials. 00:00:48.782 -- 00:00:53.440 Our first quarter results were in line with our expectations for Vireo's core markets. 00:00:53.440 -- 00:00:59.246 First quarter revenue increased 1.9% year over year to 24.5 million 00:00:59.246 -- 00:01:04.029 and was down slightly sequentially compared to the fourth quarter. 00:01:04.172 -- 00:01:08.597 We experienced continued growth in Maryland, stable performance in Minnesota, and expected 00:01:08.597 -- 00:01:13.662 declines in New York medical...