Verano Q2 revenue record $234M (+5% YoY); raises FY free cash flow guide to $65-75M

Verano Holdings Corp.

2023-Q2 EPS reported -$0.07 revenue$461,175,000

Q2 2023 revenue $234M, up 5% YoY and 3% QoQ; net loss of $13M, up from $10M loss in Q2 2022.
Adjusted EBITDA $72M (31% of revenue), down from $76M in Q2 2022; gross profit $115M (49% of revenue).
Free cash flow guidance raised lower end to $65-75M from $50-75M; capex reaffirmed at $35-50M.
Opened 6 new dispensaries across FL, PA, CT, WV; launched On the Rocks solventless brand.
Adult-use sales commenced at 4 Maryland Zen Leaf dispensaries on July 1, 2023.

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 0.95

Verano Holdings Corp. reported second quarter ended June 30, 2023 results: revenue $234,115, net income $(13,061) million. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $234,115
Net income: $(13,061) million
Guidance: raised
Result: reported results

Exact text from the filing

remainder of 2023." Second Quarter 2023 Financial Highlights For the Three Months Ended ($ in thousands) June 30, 2023 March 31, 2023 June 30, 2022 Revenues, net of Discounts $ 234,115 $ 227,060 $ 223,662 Gross Profit 115,191 109,185 98,115 Income (Loss) from Operations 30,430 33,782 (2,292) Net Loss Attributable to Verano Holdings Corp. & Subsidiaries (13,061)

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Source: SEC EDGAR

accession 0001628280-23-027920

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