Verano Holdings Corp. (OTC:VRNO)
Insiders here have filed 2 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Loses money on what it sells.
- Revenue
- $841.5M
- Net income
- -$260.2M
- Net margin
- -30.9%
A manageable debt load.
- Total debt
- $493.7M
- Cash
- $85.2M
- Net debt / EBITDA
- 2.41x
Owes more within a year than it holds to pay it.
- Current assets
- $85.2M
- Current liabilities
- $109.4M
- Current ratio
- 0.78
The business funds itself from operations.
- Operating cash flow
- $88.5M
- Free cash flow
- $45.3M
- FCF margin
- 5.4%
Not funding itself by issuing shares.
- Shares outstanding
- 73.0M
- Share growth (1y)
- 1.3%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
VRNO Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 212.38 M | 205.29 M | 223.24 M | 200.56 M | 202.27 M | 209.81 M |
| Revenue Growth (YoY) | 5.00 % | -2.15 % | 2.31 % | -7.44 % | -9.05 % | -4.77 % |
| Cost of Revenue | 118.22 M | 112.47 M | 101.07 M | 111.22 M | 89.29 M | 110.23 M |
| Gross Profit | 99.70 M | 92.82 M | 105.69 M | 89.34 M | 112.98 M | 99.58 M |
| SG&A Expense | 87.53 M | 81.03 M | 85.22 M | 74.83 M | 86.34 M | 84.58 M |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 96.56 M | 79.91 M | 76.91 M | 74.83 M | 86.77 M | 84.58 M |
| Operating Income | 7.02 M | 12.92 M | 20.16 M | 14.51 M | 26.21 M | 15.00 M |
| Pretax Income | -10.22 M | -6.11 M | -175.33 M | -15.22 M | 16.00 M | 5.83 M |
| Tax Provision | 2.85 M | 11.46 M | 10.90 M | 28.13 M | 35.15 M | 17.35 M |
| Net Income | -13.07 M | -17.58 M | -186.23 M | -43.35 M | -19.15 M | -11.52 M |
| EPS (Basic) | -0.18 | -0.24 | -2.55 | -0.60 | -0.27 | -0.16 |
| EPS (Diluted) | -0.18 | -0.24 | -2.55 | -0.60 | -0.27 | -0.16 |
| Shares Outstanding | 73.01 M | 72.67 M | 72.65 M | 72.36 M | 72.07 M | 71.83 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.