Verano Holdings Corp. ( (VRNOF) ) has released its Q3 earnings. Here is a breakdown of the information Verano Holdings Corp. presented to its investors.
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Verano Holdings Corp., a prominent multi-state cannabis operator, is known for its vertically integrated operations and extensive retail presence across the United States, offering a wide range of cannabis products under various brand names. In its third-quarter 2025 financial results, Verano reported revenues of $203 million, a slight increase from the previous quarter but a decrease from the same period last year. The company faced a net loss of $44 million, attributed to factors such as impairment charges and legal contingencies, despite efforts to reduce SG&A expenses and improve operational efficiencies.
Key financial metrics revealed a gross profit of $95 million, representing 47% of revenue, and an adjusted EBITDA of $53 million, or 26% of revenue. The company also reported net cash from operating activities of $26 million and capital expenditures of $8 million. Strategically, Verano expanded its retail footprint, opened new dispensaries, and secured a $75 million revolving credit facility to refinance higher-interest debt.
Verano’s operational highlights included the proposed redomiciling to Nevada, expanding its retail presence in Ohio, and launching new vape products. The company operates in 13 states with 158 dispensaries and 15 production facilities, highlighting its significant market reach and cultivation capacity.
Looking ahead, Verano’s management remains optimistic about future growth, focusing on infrastructure investments, product innovation, and strategic partnerships to capitalize on long-term opportunities in the cannabis industry, aiming for a transformative 2026.