---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-037518"
form_type: "8-K"
ticker: "VRNO"
cik: "0001848416"
company_name: "Verano Holdings Corp."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T10:51:04.071304+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-037518
- form_type: 8-K
- ticker: VRNO
- cik: 0001848416
- company_name: Verano Holdings Corp.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1848416/000162828023037518/0001628280-23-037518-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1848416/000162828023037518/vrnof-20231108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-037518
- JSON: https://secwatch.observer/filing/0001628280-23-037518.json
- Plain text: https://secwatch.observer/filing/0001628280-23-037518.txt

## Key facts
- Earnings Releases
  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: $240,088
  - Net income: (17,842)
  - Guidance: raised
  - Result: reported results
  source text: the future.” Third Quarter 2023 Financial Highlights For the Three Months Ended, ($ 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)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000162828023037518/0001628280-23-037518-index.htm

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