Verano Reports Q1 Results, Launches $20 Million Buyback

Verano Holdings ( (TSE:VRNO) ) just unveiled an update.

On April 30, 2026, Verano reported first-quarter 2026 results showing revenue of $208 million, up 1% sequentially but down 1% year over year, with gross profit of $99 million at a 48% margin, SG&A at 41% of revenue, and a net loss of $18 million driven partly by costs to refinance its 2022 credit facility. Adjusted EBITDA reached $49 million, operating cash flow improved to $19 million, capital spending rose to $15 million, and the board authorized a share repurchase program of up to $20 million, representing as much as 5% of outstanding shares, underscoring confidence in the balance sheet as the company expands its Florida retail network, secures new credit facilities and positions for anticipated U.S. cannabis rescheduling.

Management highlighted that sequential revenue growth was fueled primarily by strong retail performance, while modest year-over-year revenue pressure and lower gross profit were tied to increased competition and promotional activity in wholesale markets. Verano reiterated its 2026 capital expenditure guidance of $30 million to $50 million, closed a $195 million senior secured term loan, upsized its revolving credit facility to $100 million, and continued to grow its national footprint, moves that collectively strengthen liquidity and scale as it seeks to capture future medical, research and commercial opportunities in the evolving U.S. cannabis regulatory landscape.

The most recent analyst rating on (TSE:VRNO) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.

Spark’s Take on VRNO Stock

According to Spark, TipRanks’ AI Analyst, VRNO is a Neutral.

The score is primarily held back by persistent sizable net losses, weakening equity/negative returns, and fading free cash flow despite a 2025 operating rebound. Technicals show overbought signals without clear trend strength, while valuation is constrained by negative earnings and no dividend support.

To see Spark’s full report on VRNO stock, click here.

More about Verano Holdings

Verano Holdings Corp. is a leading U.S. multi-state cannabis company with operations in 13 states, spanning 162 dispensaries and 14 production facilities totaling more than 1.1 million square feet of cultivation capacity. The company focuses on retail and wholesale sales of branded cannabis products, with a notable presence in fast-growing categories such as pre-rolls and a strong retail footprint in Florida under the MÜV banner.

Technical Sentiment Signal: Sell

Current Market Cap: C$2.17B

For a thorough assessment of VRNO stock, go to TipRanks’ Stock Analysis page.