Verano Announces Second Quarter 2024 Financial Results
Verano Holdings Corp. (OTCQX: VRNOF) reported its Q2 2024 financial results. Key highlights include:
- Revenue of $222 million, up 0.5% from Q1 2024 but down 5% year-over-year
- Gross profit of $114 million (51% of revenue)
- Net loss of $22 million (10% of revenue)
- Adjusted EBITDA of $71 million (32% of revenue)
The company expanded its retail footprint, opening new MÜV and Zen Leaf dispensaries. Verano also announced a share repurchase program and entered an agreement to acquire operations in Virginia and Arizona. The company is prepared to leverage near-term catalysts, including Ohio's adult-use sales launch and potential adult-use legalization in Florida and Pennsylvania.
Verano Holdings Corp. (OTCQX: VRNOF) ha pubblicato i risultati finanziari per il secondo trimestre del 2024. Punti salienti includono:
- Entrate di $222 milioni, in aumento dello 0,5% rispetto al primo trimestre del 2024, ma in calo del 5% rispetto all'anno precedente
- Utile lordo di $114 milioni (51% delle entrate)
- Perdita netta di $22 milioni (10% delle entrate)
- EBITDA rettificato di $71 milioni (32% delle entrate)
L'azienda ha ampliato la sua presenza al dettaglio, aprendo nuovi dispensari MÜV e Zen Leaf. Verano ha anche annunciato un programma di riacquisto di azioni e ha stipulato un accordo per acquisire operazioni in Virginia e in Arizona. L'azienda è pronta a sfruttare i catalizzatori a breve termine, compresi il lancio delle vendite per uso adulto in Ohio e la potenziale legalizzazione dell'uso adulto in Florida e Pennsylvania.
Verano Holdings Corp. (OTCQX: VRNOF) informó sobre sus resultados financieros del segundo trimestre de 2024. Los aspectos destacados incluyen:
- Ingresos de $222 millones, un aumento del 0.5% en comparación con el primer trimestre de 2024, pero una disminución del 5% en comparación con el año anterior
- Utilidad bruta de $114 millones (51% de los ingresos)
- Pérdida neta de $22 millones (10% de los ingresos)
- EBITDA ajustado de $71 millones (32% de los ingresos)
La compañía expandió su presencia minorista, abriendo nuevos dispensarios MÜV y Zen Leaf. Verano también anunció un programa de recompra de acciones y firmó un acuerdo para adquirir operaciones en Virginia y Arizona. La empresa está lista para aprovechar los catalizadores a corto plazo, incluidos el lanzamiento de ventas para uso adulto en Ohio y la posible legalización del uso adulto en Florida y Pennsylvania.
Verano Holdings Corp. (OTCQX: VRNOF)은 2024년 2분기 재무 결과를 보고했습니다. 주요 하이라이트는:
- 수익이 2억 2천2백만 달러로 2024년 1분기 대비 0.5% 증가했으나, 전년 대비 5% 감소
- 매출 총 이익이 1억 1천4백만 달러(매출의 51%)
- 순손실이 2천2백만 달러(매출의 10%)
- 조정된 EBITDA가 7천1백만 달러(매출의 32%)
회사는 새로운 MÜV 및 Zen Leaf 약국을 열어 소매 기반을 확장했습니다. Verano는 또한 자사주 매입 프로그램을 발표하고 버지니아 및 애리조나에서 운영을 인수하기 위한 계약을 체결했습니다. 이 회사는 오하이오의 성인용 판매 시작 및 플로리다, 펜실베이니아에서의 성인용 합법화 가능성 등 단기 촉매제를 활용할 준비를 하고 있습니다.
Verano Holdings Corp. (OTCQX: VRNOF) a publié ses résultats financiers pour le deuxième trimestre de 2024. Les faits saillants incluent:
- Des revenus de 222 millions de dollars, en hausse de 0,5 % par rapport au premier trimestre de 2024, mais en baisse de 5 % par rapport à l'année précédente
- Un bénéfice brut de 114 millions de dollars (51 % des revenus)
- Une perte nette de 22 millions de dollars (10 % des revenus)
- Un EBITDA ajusté de 71 millions de dollars (32 % des revenus)
La société a élargi sa présence dans le commerce de détail en ouvrant de nouveaux dispensaires MÜV et Zen Leaf. Verano a également annoncé un programme de rachat d'actions et a conclu un accord pour acquérir des opérations en Virginie et en Arizona. L'entreprise est prête à tirer parti de catalyseurs à court terme, y compris le lancement des ventes pour adultes dans l'Ohio et la légalisation potentielle de l'usage récréatif en Floride et en Pennsylvanie.
Verano Holdings Corp. (OTCQX: VRNOF) hat die finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht. Wesentliche Highlights sind:
- Einnahmen von 222 Millionen USD, ein Anstieg von 0,5% im Vergleich zum ersten Quartal 2024, jedoch ein Rückgang von 5% im Jahresvergleich
- Bruttogewinn von 114 Millionen USD (51% der Einnahmen)
- Nettverlust von 22 Millionen USD (10% der Einnahmen)
- Bereinigtes EBITDA von 71 Millionen USD (32% der Einnahmen)
Das Unternehmen hat seine Einzelhandelspräsenz erweitert und neue MÜV- und Zen Leaf-Apotheken eröffnet. Verano hat auch ein Aktienrückkaufprogramm angekündigt und eine Vereinbarung zur Übernahme von Betrieben in Virginia und Arizona getroffen. Das Unternehmen ist bereit, kurzfristige Katalysatoren zu nutzen, einschließlich des Starts der Verkäufe für den Erwachsenenbereich in Ohio und der möglichen Legalisierung für den Erwachsenenbereich in Florida und Pennsylvania.
- Revenue increased 0.5% quarter-over-quarter to $222 million
- Gross profit margin improved to 51% of revenue
- Adjusted EBITDA of $71 million, representing 32% of revenue
- Expanded retail footprint with new dispensary openings in Florida and Connecticut
- Entered agreement to acquire operations in Virginia and Arizona, potentially expanding market presence
- Revenue decreased 5% year-over-year
- Net loss increased to $22 million, compared to $13 million in Q2 2023
- SG&A expenses increased to 39% of revenue, up from 36% in Q2 2023
- Net cash provided by operating activities decreased to $39 million year-to-date, down from $41 million in the prior year period
CHICAGO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced its financial results for the second quarter ended June 30, 2024, which were prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”).
Second Quarter 2024 Financial Highlights
| For the Three Months Ended, | |||||||||||
| ($ in thousands) | June 30, 2024 | March 31, 2024 | June 30, 2023 | ||||||||
| Revenues, net of Discounts | $ | 222,390 | $ | 221,306 | $ | 234,115 | |||||
| Gross Profit | 114,340 | 112,960 | 115,191 | ||||||||
| Income from Operations | 27,266 | 22,671 | 30,430 | ||||||||
| Net Loss Attributable to Verano Holdings Corp. & Subsidiaries | (21,764 | ) | (4,822 | ) | (13,061 | ) | |||||
| Adjusted EBITDA1 | 70,599 | 66,547 | 71,512 | ||||||||
Second Quarter 2024 Financial Highlights
- Revenues, net of discounts, of
$222 million , an increase of0.5% versus the prior quarter, meeting Company guidance, and a decrease of5% year-over-year. - Gross profit of
$114 million or51% of revenue. - SG&A expense of
$87 million or39% of revenue. - Net loss of
$(22) million or (10)% of revenue. - Adjusted EBITDA1 of
$71 million or32% of revenue. - Net cash provided by operating activities of
$8 million . - Capital expenditures of
$19 million .
Management Commentary
“Our second quarter performance was strong, highlighted by proactive measures we executed to further bolster the business, including authorization of a share repurchase program, capex investments, and subsequent to quarter end, strategic M&A that upon closure, will grant us vertical access to the Virginia market ahead of adult use,” said George Archos, Verano founder and Chief Executive Officer.
“Looking ahead, we are prepared to leverage near-term catalysts including this week’s launch of Ohio adult use sales, positive polling trends in Florida showing strengthening support of Amendment 3, ongoing adult use discussions in Pennsylvania, and continued rescheduling momentum at the federal level. Adding Virginia to our portfolio and deepening our robust Arizona business also provides additional growth opportunities regardless of federal rescheduling timing and progress. We remain excited and confident in Verano’s ability to continue driving long-term, sustainable growth throughout 2024 and beyond.”
Second Quarter 2024 Financial Overview
Revenue for the second quarter 2024 was
Gross profit for the second quarter 2024 was
SG&A expense for the second quarter 2024 was
Net loss for the second quarter 2024 was
Adjusted EBITDA1 for the second quarter 2024 was
Net cash provided by operating activities year to date was
Capital expenditures year to date were
2024 Guidance
- The Company is not issuing guidance at this time given the timing uncertainties surrounding the closing of the pending acquisitions of The Cannabist Company's Arizona and Eastern Virginia operations.
Second Quarter 2024 Operational Highlights
- Expanded the Company's retail footprint by opening the following new dispensaries:
- MÜV™ locations in Haines City, Naranja and Port Richey, elevating the Company's Florida retail operations to 77 dispensaries statewide;
- Strengthened Connecticut retail footprint with the opening of Zen Leaf Naugatuck, the Company’s third social equity joint venture location and fifth dispensary statewide.
- Joined industry stakeholders as active supporters of the Smart & Safe Florida campaign advocating for the passage of the Amendment 3 November ballot initiative.
- Announced share repurchase authorization.
- Launched Cabbage Club™, the first nationwide proprietary multi-state cannabis membership club, in Connecticut, Maryland and Michigan - following its successful debut in Illinois and New Jersey - with plans to further scale the club across the Company's footprint in 2024.
Subsequent Operational Highlights
- Opened Zen Leaf Fairless Hills, the Company's newest affiliated Pennsylvania dispensary, in prime new Philadelphia area location.
- Entered into an agreement with The Cannabist Company to acquire its Eastern Virginia operations subsidiary and its Arizona operations subsidiaries.
- Welcomed adult use customers at Zen Leaf dispensaries in Ohio on August 6th.
- Current operations span 13 states, comprised of 142 dispensaries and 13 production facilities with more than one million square feet of cultivation capacity.
Balance Sheet and Liquidity
As of June 30, 2024, the Company’s current assets were
The Company’s total Class A subordinate voting shares outstanding was 346,417,144 as of June 30, 2024.
Conference Call and Webcast
A conference call and webcast with analysts and investors is scheduled for August 7, 2024 at 8:30 a.m. ET / 7:30 a.m. CT to discuss the results and answer investor and participant questions.
- Investors and participants can register in advance for the call by visiting: https://registrations.events/direct/Q4I439151324
- After registering, instructions will be shared on how to join the call for those who wish to dial in.
- On August 7, 2024, the live webcast can be accessed via the following link: https://events.q4inc.com/attendee/694539185
- The live and archived webcast will be available on the Events and Presentations page of the Company’s investor relations website at investors.verano.com.
_________________________
1Adjusted EBITDA is a non-U.S. GAAP financial measure. It is derived from EBITDA, another non-U.S. GAAP financial measure, and is defined in this news release in the section below titled “Non-U.S. GAAP Financial Measures.” The most directly comparable U.S. GAAP financial measure to adjusted EBITDA is net income (loss). The reconciliation of adjusted EBITDA to U.S. GAAP net income (loss) is set forth below in the tables included in this news release.
Non-U.S. GAAP Financial Measures
Verano uses non-U.S. GAAP financial information to evaluate the performance of the Company. The terms “EBIT,” “EBITDA,” “adjusted EBITDA”, and "Operating Cash Flow" do not have any standardized meaning prescribed within U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. Accordingly, this non-U.S. GAAP financial information is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP.
The Company calculates EBIT as net income (loss) before interest expense and income tax expense; EBITDA as net income (loss) before interest expense, income tax expense, depreciation, and amortization; and adjusted EBITDA as net income (loss) plus net interest expense, income tax expense, depreciation and amortization and also excludes certain one-time extraordinary items. The calculations of the non-U.S. GAAP financial measures used in this news release and the reconciliations to the most comparable U.S. GAAP financial numbers are included in the tables below.
Operating Cash Flow is a non-U.S. GAAP financial measure. It is derived from U.S. GAAP net income (loss) which is also its most directly comparable U.S. GAAP financial measure. The reconciliation of operating cash flow to U.S. GAAP net income (loss) is set forth below in the tables included in this news release.
Management believes that this non-U.S. GAAP financial information is useful as a supplement to comparable U.S. GAAP financial information because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP information to supplement their GAAP results. Management reviews these non-U.S. GAAP financial measures on a regular basis and uses them, together with financial measures included in the Company’s financial statements, to evaluate and manage the performance of the Company’s operations. These measures should be evaluated only in conjunction with the comparable U.S. GAAP financial numbers reported by the Company.
About Verano
Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF), one of the U.S. cannabis industry’s leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multi-state operator embracing a mission of saying Yes to plant progress and the bold exploration of cannabis. Verano provides a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf™ and MÜV™ dispensary banners, including Cabbage Club™, an innovative annual membership program offering exclusive benefits for cannabis consumers. Verano produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano™, (the) Essence™, MÜV™, Savvy™, BITS™, Encore™, and Avexia™. Verano’s active operations span 13 U.S. states, comprised of 13 production facilities with over 1,000,000 square feet of cultivation capacity. Learn more at Verano.com.
Contacts:
Investors
Verano
Julianna Paterra, CFA
VP, Investor Relations
julianna.paterra@verano.com
Media
Verano
Steve Mazeika
VP, Communications
steve.mazeika@verano.com
312-348-4430
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans, strategies, or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “future”, “scheduled”, “estimates”, “forecasts”, “projects,” “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein, including, without limitation, the risk factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023 and any subsequent quarterly reports on Form 10-Q, in each case, filed with the U.S. Securities and Exchange Commission at www.sec.gov. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
Financial Information Tables
The following tables include select financial results and the reconciliations of the non-U.S. GAAP financial measures to the respective most directly comparable U.S. GAAP financial measures for the presented periods.
VERANO HOLDINGS CORP.
Highlights from Unaudited Interim Condensed Consolidated Statements of Operations (Unaudited)
($ in Thousands)
| For the Three Months Ended, | ||||||||||||
| June 30, 2024 | March 31, 2024 | June 30, 2023 | ||||||||||
| Revenues, net of Discounts | $ | 222,390 | $ | 221,306 | $ | 234,115 | ||||||
| Cost of Goods Sold, net | 108,050 | 108,346 | 118,924 | |||||||||
| Gross Profit | 114,340 | 112,960 | 115,191 | |||||||||
| Gross Profit % | 51 | % | 51 | % | 49 | % | ||||||
| Operating Expenses | ||||||||||||
| Selling, General and Administrative | 87,074 | 90,289 | 84,660 | |||||||||
| Total Operating Expenses | 87,074 | 90,289 | 84,660 | |||||||||
| Loss from Investments in Associates | — | — | (101 | ) | ||||||||
| Income from Operations | 27,266 | 22,671 | 30,430 | |||||||||
| Other Income (Expense), net: | ||||||||||||
| Loss on Disposal of Property, Plant and Equipment | — | (143 | ) | (388 | ) | |||||||
| Loss on Debt Extinguishment | (3,068 | ) | — | — | ||||||||
| Interest Expense, net | (14,237 | ) | (15,114 | ) | (14,013 | ) | ||||||
| Other Expense, net | (1,195 | ) | (759 | ) | (1,411 | ) | ||||||
| Total Other Income (Expense), Net | (18,500 | ) | (16,016 | ) | (15,812 | ) | ||||||
| Income Before Provision for Income Taxes | 8,766 | 6,655 | 14,618 | |||||||||
| Provision for Income Taxes | (30,530 | ) | (11,477 | ) | (27,679 | ) | ||||||
| Net Loss Attributable to Verano Holdings Corp. & Subsidiaries | (21,764 | ) | (4,822 | ) | (13,061 | ) | ||||||
VERANO HOLDINGS CORP.
Highlights from Condensed Consolidated Balance Sheets
($ in Thousands)
| June 30, 2024 | December 31, 2023 | |||||||
| (Unaudited) | ||||||||
| Cash and Cash Equivalents | $ | 130,052 | $ | 174,760 | ||||
| Other Current Assets | 227,511 | 219,436 | ||||||
| Property, Plant and Equipment, net | 507,447 | 501,304 | ||||||
| Intangible Assets, net | 1,040,572 | 1,086,146 | ||||||
| Goodwill | 231,291 | 231,291 | ||||||
| Other Long-Term Assets | 102,180 | 105,808 | ||||||
| Total Assets | $ | 2,239,053 | $ | 2,318,745 | ||||
| Total Current Liabilities | 360,591 | 412,188 | ||||||
| Total Long-Term Liabilities | 657,070 | 666,477 | ||||||
| Total Shareholders' Equity | 1,221,392 | 1,240,080 | ||||||
| Total Liabilities and Shareholders' Equity | $ | 2,239,053 | $ | 2,318,745 | ||||
VERANO HOLDINGS CORP.
Segmented Revenues, net of Discounts, By State (Unaudited)
| For the Three Months Ended, | For the Six Months Ended, | |||||||
| Net Retail Revenues, net of Discounts | June 30, 2024 | June 30, 2024 | ||||||
| ($ in thousands) | ||||||||
| Florida | $ | 49,183 | $ | 99,500 | ||||
| Illinois | 26,331 | 53,676 | ||||||
| New Jersey | 20,910 | 43,692 | ||||||
| Arizona | 14,472 | 29,445 | ||||||
| Pennsylvania | 11,711 | 23,777 | ||||||
| Maryland | 11,064 | 21,317 | ||||||
| Connecticut | 10,186 | 20,209 | ||||||
| Nevada | 7,187 | 14,353 | ||||||
| Ohio | 5,471 | 10,933 | ||||||
| Massachusetts | 2,985 | 5,891 | ||||||
| West Virginia | 1,851 | 3,566 | ||||||
| Other | 3,332 | 6,912 | ||||||
| Total Net Retail Revenues, net of Discounts | $ | 164,683 | $ | 333,271 | ||||
| For the Three Months Ended, | For the Six Months Ended, | |||||||||||||||
| June 30, 2024 | June 30, 2024 | |||||||||||||||
| Wholesale Revenues, net of Discounts | Gross | Net1 | Gross | Net1 | ||||||||||||
| ($ in thousands) | ||||||||||||||||
| New Jersey | $ | 23,712 | $ | 17,506 | $ | 47,876 | $ | 35,204 | ||||||||
| Illinois | 22,046 | 13,736 | 40,250 | 24,754 | ||||||||||||
| Connecticut | 14,873 | 10,338 | 27,726 | 19,104 | ||||||||||||
| Maryland | 8,923 | 5,352 | 16,928 | 10,182 | ||||||||||||
| Pennsylvania | 6,094 | 3,396 | 12,771 | 7,027 | ||||||||||||
| Arizona | 6,454 | 2,562 | 13,138 | 4,927 | ||||||||||||
| Nevada | 3,223 | 918 | 6,473 | 2,076 | ||||||||||||
| Ohio | 2,771 | 1,341 | 4,950 | 2,501 | ||||||||||||
| Massachusetts | 2,100 | 1,225 | 4,066 | 2,403 | ||||||||||||
| West Virginia | 2,277 | 1,333 | 4,201 | 2,247 | ||||||||||||
| Total Wholesale Revenues, net of Discounts | $ | 92,473 | $ | 57,707 | $ | 178,379 | $ | 110,425 | ||||||||
1Net of intercompany eliminations
VERANO HOLDINGS CORP.
Reconciliation of Net Loss to Operating Cash Flow (Non-U.S. GAAP)
| For the Six Months Ended, | ||||||||
| June 30, 2024 | June 30, 2023 | |||||||
| ($ in thousands) | (Unaudited) | (Unaudited) | ||||||
| Net Loss Attributable to Verano Holdings Corp. & Subsidiaries | $ | (26,586 | ) | $ | (22,298 | ) | ||
| Depreciation and Amortization | 71,285 | 70,293 | ||||||
| Other Non-cash Adjustments | 23,070 | 10,270 | ||||||
| Operating Cash Flow | $ | 67,769 | $ | 58,265 | ||||
VERANO HOLDINGS CORP.
Reconciliation of Net Loss to EBITDA (Non-U.S. GAAP)
| For the Three Months Ended, | For the Six Months Ended, | |||||||||||||||
| June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 | |||||||||||||
| ($ in thousands) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Net Loss Attributable to Verano Holdings Corp. & Subsidiaries | $ | (21,764 | ) | $ | (13,061 | ) | $ | (26,586 | ) | $ | (22,298 | ) | ||||
| Interest Expense, net | 14,237 | 14,013 | 29,351 | 29,918 | ||||||||||||
| Income Tax Expense | 30,530 | 27,679 | 42,007 | 55,999 | ||||||||||||
| Depreciation and Amortization - COGS | 18,749 | 18,529 | 37,392 | 37,050 | ||||||||||||
| Depreciation and Amortization - SG&A | 16,984 | 16,708 | 33,893 | 33,243 | ||||||||||||
| Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) | $ | 58,736 | $ | 63,868 | $ | 116,057 | $ | 133,912 | ||||||||
VERANO HOLDINGS CORP.
Reconciliation of Net Loss to EBIT (Non-U.S. GAAP) and Adjusted EBITDA (Non-U.S. GAAP)
| For the Three Months Ended, | ||||||||||||
| June 30, 2024 | March 31, 2024 | June 30, 2023 | ||||||||||
| ($ in thousands) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
| Net Loss Attributable to Verano Holdings Corp. & Subsidiaries | (21,764 | ) | (4,822 | ) | (13,061 | ) | ||||||
| Interest Expense, Net | 14,237 | 15,114 | 14,013 | |||||||||
| Income Tax Expense | 30,530 | 11,477 | 27,679 | |||||||||
| Earnings Before Interest, Taxes (EBIT) | $ | 23,003 | $ | 21,769 | $ | 28,631 | ||||||
| COGS Add-backs: | ||||||||||||
| Depreciation and Amortization - COGS | 18,749 | 18,643 | 18,529 | |||||||||
| Acquisition, Transaction and Other Non-operating Costs | — | — | — | |||||||||
| Employee Stock Compensation | 680 | 474 | 488 | |||||||||
| SG&A Add-backs: | ||||||||||||
| Depreciation and Amortization - SG&A | 16,984 | 16,909 | 16,708 | |||||||||
| Acquisition, Transaction and Other Non-operating Costs | 2,570 | 3,476 | 472 | |||||||||
| Employee Stock Compensation | 3,636 | 3,454 | 3,260 | |||||||||
| Acquisition Adjustments and Other Income (Expense), net | 4,977 | 1,822 | 3,424 | |||||||||
| Adjusted EBITDA | $ | 70,599 | $ | 66,547 | $ | 71,512 | ||||||
| Net Loss Margin | (10 | )% | (2 | )% | (6 | )% | ||||||
| Adjusted EBITDA Margin | 32 | % | 30 | % | 31 | % | ||||||
FAQ
What was Verano's revenue for Q2 2024?
How did Verano's (VRNOF) net loss change in Q2 2024 compared to Q2 2023?
What new markets is Verano (VRNOF) entering through recent acquisitions?
How many dispensaries does Verano (VRNOF) operate as of Q2 2024?
