earnings
confidence high
sentiment negative
materiality 0.65
Verano Q2 revenue $222M (-5% YoY), net loss widens to $22M; enters Virginia M&A and Ohio adult-use launch
Verano Holdings Corp.
2024-Q2 EPS reported
-$0.08
revenue$443,696,000
- Revenue $222M, down 5% YoY; up 0.5% sequentially, meeting guidance.
- Net loss $21.8M vs $13.1M loss last year, driven by non-cash loss on $50M debt prepayment.
- Adjusted EBITDA $70.6M (32% revenue), down from $71.5M prior year.
- Agreed to acquire The Cannabist Company's Eastern Virginia and Arizona operations post-quarter.
- Ohio adult-use sales began Aug 6; no FY2024 guidance due to pending M&A timing.