Verano Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	821.5	878.59	938.45	879.41	737.85
Revenue Growth (YoY)	-6.50%	-6.38%	6.71%	19.19%	222.87%
Cost of Revenue	408.01	434.65	463.25	456.35	406.83
Gross Profit	413.5	443.93	475.21	423.06	331.02
Selling, General & Admin	317.53	335.97	331.93	356.57	270.93
Operating Expenses	337.32	353.41	331.93	356.57	270.93
Operating Income	76.18	90.52	143.28	66.49	60.09
Interest Expense	-53.59	-54.76	-59.79	-49.43	-24.27
Earnings From Equity Investments	-	-	-0.31	1.56	4.62
Other Non Operating Income (Expenses)	-10.28	-3.82	1.13	16.97	-2.84
EBT Excluding Unusual Items	12.31	31.95	84.31	35.59	37.61
Impairment of Goodwill	-86.59	-8.18	-37.93	-113.03	-
Gain (Loss) on Sale of Investments	-	-	-6.57	14.1	-
Gain (Loss) on Sale of Assets	2.79	-1.1	-1.12	9.4	-1.09
Asset Writedown	-96.68	-319.52	-13.69	-116.15	-
Other Unusual Items	1.94	-3.07	2.8	6.68	12.47
Pretax Income	-166.23	-299.92	27.8	-163.4	48.99
Income Tax Expense	91.68	41.94	145.15	105.47	103.99
Earnings From Continuing Operations	-257.91	-341.86	-117.35	-268.87	-55
Minority Interest in Earnings	-	-	-	-0.29	-2.51
Net Income	-257.91	-341.86	-117.35	-269.16	-57.51
Net Income to Common	-257.91	-341.86	-117.35	-269.16	-57.51
Shares Outstanding (Basic)	361	350	343	331	290
Shares Outstanding (Diluted)	361	350	343	331	290
Shares Change (YoY)	3.24%	1.99%	3.43%	14.11%	7.29%
EPS (Basic)	-0.71	-0.98	-0.34	-0.81	-0.20
EPS (Diluted)	-0.71	-0.98	-0.34	-0.81	-0.20
Free Cash Flow	11.63	13.15	73.38	-24.83	41.61
Free Cash Flow Per Share	0.03	0.04	0.21	-0.07	0.14
Gross Margin	50.33%	50.53%	50.64%	48.11%	44.86%
Operating Margin	9.27%	10.30%	15.27%	7.56%	8.14%
Profit Margin	-31.39%	-38.91%	-12.50%	-30.61%	-7.79%
Free Cash Flow Margin	1.42%	1.50%	7.82%	-2.82%	5.64%
EBITDA	200.33	230.19	284.41	207.88	156.33
EBITDA Margin	24.39%	26.20%	30.31%	23.64%	21.19%
D&A For EBITDA	124.16	139.66	141.13	141.39	96.24
EBIT	76.18	90.52	143.28	66.49	60.09
EBIT Margin	9.27%	10.30%	15.27%	7.56%	8.14%
Effective Tax Rate	-	-	522.14%	-	212.26%
Advertising Expenses	13.99	12.96	9.67	16	8.64

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.