Sunday, June 1, 2025

Latest

Verano Posts $198.7 Million In Q2 Revenue, Positive Net Income

Verano Holdings (CSE: VRNO) this morning reported its second quarter financial results, posting revenues of US$198.7 million and positive net income of $6.8 million. Once exchange rates are accounted for, the company managed to beat consensus estimates.

Revenues climbed to $198.7 million from that of $143.3 million in the second quarter. With a consensus estimate of C$228.56 million, the company managed to beat estimates with the Canadian equivalent of $249.9 million in Q2 revenues. With cost of sales of $98.6 million, the company posted a gross profit before fair value adjustments of $100.1 million.

Operational, expenses amounted to $57.6 million. This breaks down into SG&A of $53.3 million, along with $4.3 million in depreciation and amortization, resulting in income from operations of $18.3 million, once fair value adjustments for biological assets are accounted for.

With other expenses of $5.6 million, the company posted a net income of $6.8 million. Adjusted EBITDA meanwhile amounted to $81.5 million, which missed analyst estimates of US$97.45 million.

Cash and cash equivalents as of the period end amounted to $149.7 million.

In terms of guidance, the company indicated that it anticipates “exiting the year with an annual revenue run rate approaching $1.1 billion.”

Verano Holdings last traded at $19.00 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.

Leave a Reply

Video Articles

Solaris Resources: The Royal Gold Financing Package

How a Single Deal Turned 2 ‘Dead’ Mines into a $2B Project | Canadian Copper PEA – Simon Quick

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Recommended

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Canadian Copper: The $172M Combined Strategy PEA

Related News

Verano: Beacon Initiates Before Listing With C$32 Price Target, Buy Rating

Verano Holdings (CSE: VRNO) is due to debut on the CSE on February 17th. The...

Tuesday, February 16, 2021, 04:02:00 PM

Harvest Health Announces Definitive Agreement to Purchase Verano Holdings

Last night, it was announced that Harvest Health and Recreation (CSE: HARV) had signed a...

Wednesday, April 24, 2019, 07:30:02 AM

Verano Holdings: Analysts Expect $122 Million In EBITDA For Q2

Verano Holdings (CSE: VRNO) announced that they will be reporting their second quarter financials before...

Sunday, August 8, 2021, 05:10:00 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 To Acquire Sierra Well For US$29.0 Million

Verano Holdings (CSE: VRNO) is looking to expand its presence in Nevada. The company this...

Monday, July 26, 2021, 07:50:06 AM