Verano Holdings (VRNO) Gross Margin
Verano Holdings (VRNO) currently has a gross margin of 47.9%. Margins are contracting over recent quarters. The company is a multi-state cannabis operator (MSO) trading on the OTC.
Current Gross Margin
47.9%
Margin Trend
Contracting
Latest Quarter Margin
47.1%
Quarterly Gross Margin
| Period | Revenue | COGS | Gross Profit | Gross Margin |
|---|---|---|---|---|
| FY2026 Q3 | $212.4M | $112.4M | $100.0M | 47.1% |
| FY2026 Q2 | $217.9M | $118.2M | $99.7M | 45.8% |
| FY2026 Q1 | $208.2M | $109.2M | $99.0M | 47.5% |
| FY2025 Q4 | $206.6M | $100.9M | $105.7M | 51.2% |
| FY2025 Q3 | $202.8M | $107.6M | $95.2M | 47.0% |
| FY2025 Q2 | $202.3M | $89.3M | $113.0M | 55.9% |
| FY2025 Q1 | $209.8M | $110.2M | $99.6M | 47.5% |
| FY2024 Q4 | $218.2M | $110.7M | $107.5M | 49.3% |
| FY2024 Q3 | $216.7M | $107.6M | $109.1M | 50.3% |
| FY2024 Q2 | $222.4M | $108.0M | $114.3M | 51.4% |
| FY2024 Q1 | $221.3M | $108.3M | $113.0M | 51.0% |
| FY2023 Q4 | $237.2M | $119.6M | $117.6M | 49.6% |
Frequently Asked Questions
What is VRNO's current gross margin?+
Gross margin for Verano Holdings is calculated as (revenue minus cost of revenue) divided by revenue, expressed as a percentage. It measures how efficiently the company converts sales into gross profit before operating expenses. Higher margins indicate better pricing power or lower production costs.
What is a good gross margin for cannabis companies?+
Cannabis gross margins vary widely by sub-sector. Retailers typically see 40-55%, vertically integrated MSOs 45-60%, and LPs 20-45%. Verano Holdings's margin should be compared to peers in the same sub-sector for meaningful context. Margins above 50% generally indicate strong pricing power.
Why do VRNO's margins change quarter to quarter?+
Gross margin fluctuations for Verano Holdings can result from changes in product mix, pricing pressure from competition, input cost changes (e.g., energy, labor), inventory write-downs, or scaling into new markets where initial costs are higher. Seasonal harvest patterns can also affect margins for cultivators.