Verano Q3 record revenue $240M (+5% YoY); raises FY free cash flow guidance to $72-76M

Verano Holdings Corp.

2023-Q3 EPS reported -$0.12 revenue$701,263,000

Revenue $240M (+5% YoY; +3% QoQ); gross profit $133M (55% of revenue).
Net loss $(18)M vs $(43)M in Q3 2022; Adjusted EBITDA $89M (37% of revenue).
Net cash from operations $37M; free cash flow $27M in Q3.
FY 2023 free cash flow guidance raised to $72-76M (from $65-75M); capex guidance lowered to $30-37M.
Uplisted to Cboe Canada; opened new MÜV dispensaries in Florida and Zen Leaf locations in Connecticut.

item 2.02 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 the third quarter ended September 30, 2023 results: revenue $240,088, net income (17,842). Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $240,088
Net income: (17,842)
Guidance: raised
Result: reported results

Exact text from the filing

the future.” Third Quarter 2023 Financial Highlights For the Three Months Ended, ($ in thousands) September 30, 2023 June 30, 2023 September 30, 2022 Revenues, net of Discounts $ 240,088 $ 234,115 $ 227,588 Gross Profit 133,220 115,191 122,994 Income from Operations 40,288 30,430 37,075 Net Loss Attributable to Verano Holdings Corp. & Subsidiaries (17,842)

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Source: SEC EDGAR

accession 0001628280-23-037518

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