---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-017007"
form_type: "8-K"
ticker: "VRNO"
cik: "0001848416"
company_name: "Verano Holdings Corp."
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T13:50:50.098640+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Verano Q4 rev $207M, net loss $183M; closes $195M credit facility at 9.5%

## Summary
- Q4 2025 revenue $207M (+2% QoQ, -5% YoY); Adj. EBITDA $56M (27% margin).
- Full year 2025 revenue $822M (-6% YoY); net loss $258M; Adj. EBITDA $229M.
- Closed $195M senior secured term loan with Needham Bank at 9.5% floating rate, maturing 2029.
- Drew $50M from revolver to repay 2022 facility; year-end total debt net $400M.
- 2026 capex guidance $30-50M; highlights include Texas conditional license and Vireo settlement.

## SEC filing metadata
- accession: 0001628280-26-017007
- form_type: 8-K
- ticker: VRNO
- cik: 0001848416
- company_name: Verano Holdings Corp.
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1848416/000162828026017007/0001628280-26-017007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1848416/000162828026017007/vrnof-20260312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-017007
- JSON: https://secwatch.observer/filing/0001628280-26-017007.json
- Plain text: https://secwatch.observer/filing/0001628280-26-017007.txt

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