secwatch.observer — SEC 8-K summary
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Issuer:     Verano Holdings Corp. (VRNO)
CIK:        0001848416
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001628280-22-029590
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verano Q3 revenue up 10% YoY to $228M; net loss widens to $43M
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- Q3 2022 revenue $228M, up 10% YoY and 2% QoQ; growth driven by adult-use sales in New Jersey.
- Gross profit $123M (54% margin) vs 48% a year ago; improvement from top-line growth and lower inventory step-up.
- Net loss widened to $(43)M from $(13)M in Q3 2021; Adjusted EBITDA $82M (36% of revenue) vs $76M (34%) in prior quarter.
- Opened 11 new MÜV dispensaries in Florida; expanded Verano signature flower to 4 new markets; launched Savvy brand across 7 markets.
- Subsequent to quarter: refinanced $350M credit facility for enhanced flexibility and lower capital costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1848416/000162828022029590/0001628280-22-029590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1848416/000162828022029590/vrnof-20221114.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-029590

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