Wednesday, October 8, 2025

Latest

Verano Holdings Reports Pro-Forma 2020 Revenues Of $354.8 Million, Net Income Of $244.6 Million

Verano Holdings (CSE: VRNO) this morning reported its fourth quarter and full year financial results for the period ended December 31, 2020. The company reported revenues of $354.8 million for the full fiscal year, along with a net income of $244.6 million on a pro-forma basis.

Notably, results are presented on a pro-forma basis as a result of the consolidation of multiple entities after the closing of the quarter for the firms go public transaction. Such results were not broken down for the fourth quarter as a result.

Looking at the full year, the company saw costs of sales of $131.1 million on revenues of $354.8 million, resulting in a gross profit before fair value adjustments of $223.8 million. That gross profit figure climbed to $408.4 following fair value adjustments.

Expenses meanwhile were rather contained, with the company seeing total expenses amount to $76.7 million for the year, of which selling, general and administrative expenses amounted to $67.6 million. Depreciation and amortization meanwhile accounted for $9.1 million, resulting in an income from operations of $334.3 million. Following other expenses of $10.1 million, the company posted a net income $244.6 million after taxes.

In terms of a pro-forma balance sheet, Verano only provided an abbreviated sheet. Cash was reportedly sitting at $30.9 million, while other current assets amounted to $289.7 million. Current liabilities meanwhile amounted to $142.6 million, with no color provided on specifically what those figures entail.

Verano Holdings last traded at $24.34 on the CSE.


Information for this briefing was found via Sedar, and Verano Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Verano Sees Losses Widen In Q4 After Impairing Assets

Verano Holdings (CSE: VRNO) has saw its revenue growth flatline in the fourth quarter, with...

Thursday, March 30, 2023, 08:44:01 AM

Analyst Reverses ‘Never Just One Cockroach’ Stance on Verano Holdings, Goes Long After $50M Buyback Announcement

Analyst Doug Kass is now bullish on Verano Holdings (NEO: VRNO) just two short years...

Wednesday, June 19, 2024, 02:53:00 PM

Verano To Acquire Goodness Growth For US$413 Million In All-Stock Purchase

Verano Holdings (CSE: VRNO) is looking to significantly expand its footprint across the US. The...

Tuesday, February 1, 2022, 08:21:16 AM

Verano Holdings Acquires Fifth Ohio Dispensary, Details Slim

Verano Holdings (CSE: VRNO) has reached its operating capacity in the state of Ohio. The...

Friday, July 9, 2021, 08:37:16 AM

Verano Closes US$100 Million Financing

Verano Holdings has completed its subscription receipt financing, raising gross proceeds of US$100.0 million. The...

Thursday, January 21, 2021, 09:07:45 AM