Vireo Growth Inc (VREOF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

good morning and welcome to vireo growth inc's q4 2025 results call this company the company would like to remind everyone that today's conference call may contain forward-looking statements within the meaning of u.s and canadian securities laws these statements are based on management's current expectations and involve risks and uncertainties that could differ materially from actual events in those described in such forward-looking statements For more information on forward-looking statements, please refer to forward-looking statements disclosure in the company's earnings release. This call may also contain non-GAAP financial measures. Please see our earnings release for reconciliations to GAAP measures. I'll now hand the call over to Chief Executive Officer John Mazarrakis. Thank you. Good morning, everyone. We're pleased to report another strong quarter for Vireo highlighted by double-digit organic growth and continued integration progress across our extended platform. We continue to operate with discipline at the local level while pursuing accretive M&A opportunities that strengthen our national presence and enhance long-term cash flow stability. In the fourth quarter, same-store sales increased 22% year-over-year and 11.3%, excluding Minnesota, reflecting healthy consumer demand and continued share gains in key markets. Wholesale revenue also rose 55% year-over-year, supported by strong output from our integrated cultivation assets. Over the past several months, we've announced a number of transformative transactions, including SWAT's EASE and Pharmacan's Colorado retail assets, as well as a non-binding memorandum of understanding with Scotch Miracle-Gro for the potential acquisition of Hawthorne Gardening Company. Combined, the Swazis and Pharmacan transactions...