VRNOF
Verano Holdings Corp.0.9400
-0.2400-20.3%
Nov 14, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
340.11MP/E (TTM)
-Basic EPS (TTM)
-0.99Dividend Yield
0%Recent Filings
8-K
8-K
Postal Strike Hits Verano Vote
Verano Holdings Corp. issued a press release on October 6, 2025, warning shareholders that the Canadian postal strike may delay delivery of special meeting materials for the October 27 vote on its proposed continuance from British Columbia to Nevada. The company urges online voting to sidestep mail disruptions, extending the proxy cutoff to October 24. Meeting materials are accessible via SEDAR+, EDGAR, and the investor website. Dissent rights apply under British Columbia law.
8-K
Verano's Nevada redomicile proposal
Verano Holdings Corp. announced on September 15, 2025, a proposed redomicile from British Columbia to Nevada, pending shareholder approval at a special meeting. This move aligns the company's structure with its U.S.-focused operations across 13 states, streamlining regulations without disrupting manufacturing or retail. Shares will exchange one-for-one, maintaining trading on Cboe Canada and OTCQX. Yet the board could still abandon the plan.
8-K
Verano Q2 earnings and leadership change
Verano Holdings reported Q2 2025 revenues of $202 million, down from $222 million a year ago due to price compression and competition, yet gross profit held at $113 million with a 56% margin, up from 51% last year, thanks to efficient cultivation. Adjusted EBITDA came in at $66 million, or 33% of revenue, while net cash from operations rose to $11 million. President Darren Weiss resigned to chase international cannabis ventures but will consult on overseas deals. Management eyes a stronger H2 2025 via wholesale tweaks and expansions. Leadership shifts test continuity.
10-Q
Q2 FY2025 results
Verano Holdings posted Q2 revenue of $202.3M, down 9.0% y/y but up 15.3% q/q (derived), with gross profit holding steady at $113.0M and margins expanding to 55.9% from 51.4% y/y thanks to efficient harvests offsetting promotional pressures in mature markets like New Jersey and Illinois. Operating income dipped slightly to $26.2M, down 3.9% y/y, while diluted EPS improved to -$0.05 from -$0.06, reconciling cleanly with 360.4M weighted shares and no anti-dilution effects. Retail sales climbed 2.7% y/y to $169.1M, fueled by Florida gains and new Ohio adult-use launches, yet wholesale softened 20.7% y/y amid price compression. Cash fell to $68.6M with $12.7M operating cash flow over H1, free cash flow at -$2.5M (derived), and total debt steady at $403.3M under the 2022 credit facility maturing October 2026; a $4.7M gain came from deconsolidating Arkansas ops in January. Acquisitions of Cannabist AZ and CC East Virginia closed August 2024 for $12.9M cash and $84.6M total (cash/stock/promissory note), adding $24.5M goodwill and $33.0M intangibles amortized over undisclosed lives with expected synergies. Federal illegality under the Controlled Substances Act lingers as a core risk, capping banking access and inviting enforcement shifts.
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