---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-011303"
form_type: "8-K"
ticker: "VREOF"
cik: "0001771706"
company_name: "Vireo Growth Inc."
filed_at: "2025-08-13T23:59:59+00:00"
generated_at: "2026-05-17T13:58:07.236024+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Vireo Q2 GAAP revenue $48.1M (+91% YoY); operating loss of $2.0M vs prior profit

## Summary
- GAAP revenue $48.1M (+91% YoY); gross profit $20.4M (+50%). Gross margin fell 1,150 bps to 42.5%.
- GAAP operating loss $2.0M vs income of $5.8M in Q2 2024; adjusted operating income $11.3M (+98%).
- Adjusted EBITDA $13.3M (margin 27.6%); SG&A as % of revenue improved 480 bps to 25.4%.
- Closed previously pending merger transactions in Q2; pro forma results in line with expectations.
- Completed $153M refinancing, leaving company with over $100M cash and lower cost of capital.

## SEC filing metadata
- accession: 0001558370-25-011303
- form_type: 8-K
- ticker: VREOF
- cik: 0001771706
- company_name: Vireo Growth Inc.
- filed_at: 2025-08-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1771706/000155837025011303/0001558370-25-011303-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1771706/000155837025011303/vreof-20250813x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-011303
- JSON: https://secwatch.observer/filing/0001558370-25-011303.json
- Plain text: https://secwatch.observer/filing/0001558370-25-011303.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.