Goodness Growth Q3 revenue up 41% YoY to $18.9M; Verano litigation and strategic review underway

Vireo Growth Inc.

2022-Q3 EPS reported -$0.23 revenue$55,582,821

GAAP revenue $18.9M (+41% YoY); adjusted EBITDA $1.9M vs -$1.9M prior year.
Gross margin 50.6% (up 1,230 bps); operating loss narrowed to $0.2M from $4.1M.
Verano terminated acquisition on Oct 13; company filed suit Oct 21 seeking damages.
Board continues evaluating strategic alternatives; no timetable set.
Cash $21.8M; 128.1M diluted shares outstanding as of Sept 30, 2022.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vireo Growth Inc. reported third quarter ended September 30, 2022 results: revenue $18.9 million, net income $8.4 million.

Period: third quarter ended September 30, 2022
Revenue: $18.9 million
Net income: $8.4 million
Result: reported results

Exact text from the filing

(EXHIBIT 99.1) --- EX-99.1 2 tm2230537d1_ex99-1.htm EXHIBIT 99.1 EXHIBIT 99.1 Goodness Growth Holdings Announces Third Quarter 2022 Results – Third quarter GAAP revenue of $18.9 million increased 41.0% YoY – – Excluding discontinued operations, third quarter revenue increased 59.6% YoY – – Company will be seeking damages from Verano; focused on maximizing value

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Source: SEC EDGAR

accession 0001104659-22-119003

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