Verano Holdings (VRNO) Earnings History

Latest Quarter: Q3 FY2026

Revenue

$212.4M

Net Income

-$4.1M

EPS

—

Gross Profit

$100.0M

Operating Cash Flow

$48.7M

Revenue Trend (Last 8 Quarters)

Q4 FY2024

$218.2M

Q1 FY2025

$209.8M

Q2 FY2025

$202.3M

Q3 FY2025

$202.8M

Q4 FY2025

$206.6M

Q1 FY2026

$208.2M

Q2 FY2026

$217.9M

Q3 FY2026

$212.4M

Net Income Trend (Last 8 Quarters)

Q4 FY2024

-$272.7M

Q1 FY2025

-$11.5M

Q2 FY2025

-$19.1M

Q3 FY2025

-$43.8M

Q4 FY2025

-$183.4M

Q1 FY2026

-$17.8M

Q2 FY2026

-$13.4M

Q3 FY2026

-$4.1M

Full Earnings History

Period	Revenue	Gross Profit	Op. Income	Net Income	EPS	OCF	FCF	Filing Date
Q3 FY2026	$212.4M	$100.0M	$11.9M	-$4.1M	—	$48.7M	$0	—
Q2 FY2026	$217.9M	$99.7M	$3.1M	-$13.4M	—	$30.6M	$0	—
Q1 FY2026	$208.2M	$99.0M	$13.1M	-$17.8M	—	$18.6M	$0	—
Q4 FY2025	$206.6M	$105.7M	-$157.6M	-$183.4M	—	$13.8M	$0	—
Q3 FY2025	$202.8M	$95.2M	$9.3M	-$43.8M	—	$26.4M	$0	—
Q2 FY2025	$202.3M	$113.0M	$26.2M	-$19.1M	—	$10.9M	$0	—
Q1 FY2025	$209.8M	$99.6M	$15.0M	-$11.5M	—	$1.8M	$0	—
Q4 FY2024	$218.2M	$107.5M	-$303.9M	-$272.7M	—	$43.5M	$0	—
Q3 FY2024	$216.7M	$109.1M	$16.8M	-$42.6M	—	$29.7M	$0	—
Q2 FY2024	$222.4M	$114.3M	$27.3M	-$21.8M	—	$7.9M	$0	—
Q1 FY2024	$221.3M	$113.0M	$22.7M	-$4.8M	—	$31.0M	$0	—
Q4 FY2023	$237.2M	$117.6M	-$19.7M	-$77.2M	—	$32.3M	$0	—

Revenue Analysis

Revenue has declined for 1 consecutive quarter.The company generated $212.4M in revenue in Q3 FY2026, representing a -2.5% change from the prior quarter.

Over the last 8 reported quarters, VRNO has generated between $202.3M and $218.2M in quarterly revenue.Cost of revenue for the most recent quarter was $112.4M, resulting in a gross profit of $100.0M.

Profitability Analysis

Verano Holdings reported a gross margin of 47.1% in Q3 FY2026.Operating income for the quarter was $11.9M, indicating operational profitability.

Net income came in at -$4.1M for the latest quarter. VRNO is not yet profitable on a net income basis. The company reported an EPS of N/A for the period. Over the trailing 4 quarters, 0 out of 4 quarters were profitable.

Cash Flow Analysis

Verano Holdings generated $48.7M in operating cash flow during Q3 FY2026. Positive operating cash flow indicates the company is generating cash from its core business operations.

Free cash flow for the quarter was $0. The company may need to rely on external financing or existing cash reserves to fund growth initiatives. Across the last 4 quarters, cumulative operating cash flow was $111.7M.

Balance Sheet Snapshot (Q3 FY2026)

Total Assets	$1.71B
Total Liabilities	$1.04B
Total Equity	$670.1M
Cash & Equivalents	$102.1M
Total Debt	$390.2M

Frequently Asked Questions

What are Verano Holdings (VRNO) earnings?+

Earnings refer to Verano Holdings's financial results reported each quarter, including revenue (total sales), net income (profit or loss after all expenses), earnings per share (EPS), and cash flow. These figures are filed with the SEC and provide investors with a snapshot of the company's financial health and operational performance.

When does VRNO report earnings?+

Earnings filing dates for Verano Holdings are not yet available. Cannabis companies typically report quarterly earnings within 45 days of the fiscal quarter end. Check SEC filings for the most current schedule.

How do I read VRNO's quarterly results?+

Start with revenue to understand total sales, then look at gross profit to see how much the company keeps after production costs. Operating income shows profitability from core operations, while net income reflects the bottom line after all expenses and taxes. EPS divides net income by shares outstanding, making it easier to compare across companies. Cash flow from operations shows actual cash generated by the business.

What do VRNO's revenue and EPS numbers mean?+

Verano Holdings reported revenue of $212.4M and EPS of N/A in Q3 FY2026. Revenue measures total sales before any expenses, while EPS (earnings per share) divides net income by the number of outstanding shares. Negative EPS indicates the company reported a loss on a per-share basis.

How do earnings affect VRNO's stock price?+

Earnings reports are one of the biggest catalysts for cannabis stock price movements. If VRNO reports revenue or EPS above analyst expectations, the stock typically rises. If results disappoint, the stock may decline. The market also reacts to forward guidance, margin trends, and cash flow improvements. Cannabis stocks can be especially volatile around earnings due to lower liquidity and higher retail investor participation.

Is VRNO profitable?+

Verano Holdings reported a net loss of -$4.1M in its most recent quarter (Q3 FY2026). Many cannabis companies are not yet profitable due to high operating costs, regulatory expenses, and the impact of IRS Section 280E on effective tax rates.

What is the difference between GAAP and non-GAAP earnings for cannabis companies?+

GAAP (Generally Accepted Accounting Principles) earnings follow standard accounting rules and include all expenses. Non-GAAP or "adjusted" earnings exclude one-time charges like impairments, restructuring costs, and stock-based compensation. Cannabis companies frequently report large non-cash impairments that can make GAAP results look worse than operational performance. Investors should review both metrics, but GAAP figures are what companies must file with the SEC.

How much cash does VRNO have?+

As of Q3 FY2026, Verano Holdings reported cash and equivalents of $102.1M with total debt of $390.2M. Cash position is especially important for cannabis companies, as limited access to traditional banking and capital markets means companies must carefully manage their cash reserves.

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Disclaimer: The financial data presented on this page is sourced from publicly available SEC filings and is provided for informational purposes only. It should not be considered financial advice. Cannabismarketcap makes no guarantees about the accuracy or completeness of this data. Always consult official SEC filings and a qualified financial advisor before making investment decisions.