---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-027920"
form_type: "8-K"
ticker: "VRNO"
cik: "0001848416"
company_name: "Verano Holdings Corp."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:52:05.621406+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-027920
- form_type: 8-K
- ticker: VRNO
- cik: 0001848416
- company_name: Verano Holdings Corp.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1848416/000162828023027920/0001628280-23-027920-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1848416/000162828023027920/vrnof-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-027920
- JSON: https://secwatch.observer/filing/0001628280-23-027920.json
- Plain text: https://secwatch.observer/filing/0001628280-23-027920.txt

## Key facts
- Earnings Releases
  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: $(13,061) million
  - Guidance: raised
  - Result: reported results
  source text: remainder of 2023." Second Quarter 2023 Financial Highlights For the Three Months Ended ($ 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)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000162828023027920/0001628280-23-027920-index.htm

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