Vireo Q2 GAAP revenue $209.3M up 335% YoY; proforma $254.9M; ~270 dispensaries

Vireo Growth Inc.

Q2 GAAP revenue $209.3M (+335% YoY); gross profit $95.3M (45.5% margin); adjusted EBITDA $41.5M (19.8% margin).
Proforma revenue $254.9M reflects Hawthorne, Bridgewell, PharmaCann deals; closed Hawthorne, Eaze, Bridgewell in Q2.
Post-Q2: closed PharmaCann; announced FLUENT, C21, Planet 13 merger, Cannabist asset purchase, and Ohio vertical.
New ABL facility: $65M initial, expandable to $105M at SOFR+1.75%-2.00%; Q2 cash $122.7M.
Company expects to become largest U.S. cannabis operator by dispensary count with approximately 270 stores.

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