---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-021327"
form_type: "8-K"
ticker: "VRNO"
cik: "0001848416"
company_name: "Verano Holdings Corp."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T13:07:50.969988+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Verano Q1 revenue $221M falls 3% YoY; net loss narrows to $5M

## Summary
- Revenue $221M, down 3% YoY and 7% sequentially, exceeding guidance.
- Gross profit $113M (51% of revenue), up from 48% in Q1 2023.
- Net loss $5M vs $9M in Q1 2023; Adjusted EBITDA $67M (30% of revenue).
- SG&A $90M (41% of revenue), up from 33% a year ago on store openings.
- Q2 2024 guidance: flat to low single-digit revenue growth; prepaid $50M debt after quarter end.

## SEC filing metadata
- accession: 0001628280-24-021327
- form_type: 8-K
- ticker: VRNO
- cik: 0001848416
- company_name: Verano Holdings Corp.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1848416/000162828024021327/0001628280-24-021327-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1848416/000162828024021327/vrnof-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-021327
- JSON: https://secwatch.observer/filing/0001628280-24-021327.json
- Plain text: https://secwatch.observer/filing/0001628280-24-021327.txt

## Key facts
- Earnings Releases
  Verano Holdings Corp. reported the first quarter ended March 31, 2024 results: revenue $221 million, net income $(5) million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $221 million
  - Net income: $(5) million
  - Result: reported results
  source text: document filed under the Securities Act of 1933, as amended, or the Exchange Act. --- EX-99.1 (EX-99.1) --- Verano Announces First Quarter 2024 Financial Results Generated $221 Million in Revenue, Exceeding Guidance Increased Gross Profit Margin by Nearly 300 Basis Points Year Over Year CHICAGO, May 8, 2024 (GLOBE NEWSWIRE) – Verano Holdings Corp. (Cboe CA:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000162828024021327/0001628280-24-021327-index.htm

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