VRNOF (VRNOF)
Verano Holdings Corp.
OTC:VRNOFHealthcare · Drug Manufacturers - Specialty & Generic
Mkt Cap-
Float293.99M
O/S-
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$835.88M
Net Income-$262.42M
Total Assets$1.76B
Free Cash Flow$11.83M
Debt & Equity
Debt 42%
Equity 58%
Total Debt$501.88M
Total Equity$702.87M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in VRNOF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.76B
Liabilities$1.06B
Accounts Receivable$42.84M
Accounts Payable$38.67M
Inventory$229.97M
PP&E (Net)$491.58M
Goodwill$160.72M
Intangible Assets$578.04M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $835.88M | $878.59M | $938.45M | $879.41M | $731.36M | $240.6M | $0 | $0 | $0 |
| YoY Growth | -4.9% | -6.4% | 6.7% | 20.2% | 204.0% | - | - | - | - |
| Cost of Revenue | $435.29M | $434.65M | $463.25M | $456.35M | $410.98M | $117.36M | $0 | $0 | $0 |
| Gross Profit | $400.59M | $443.93M | $475.21M | $423.06M | $320.38M | $123.25M | $0 | $0 | $0 |
| Gross Margin | 47.9% | 50.5% | 50.6% | 48.1% | 43.8% | 51.2% | - | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $333.28M | $353.41M | $331.93M | $356.57M | $270.93M | $26.06M | $58K | $100K | $59K |
| Other | -$10.19M | $327.7M | $58.49M | $227.62M | -$742.47M | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $323.09M | $681.11M | $390.42M | $584.19M | -$471.54M | $26.06M | $58K | $100K | $59K |
| Operating Income (EBIT) | $77.51M | -$237.18M | $84.78M | -$161.13M | $59.56M | $97.18M | -$58K | -$100K | -$59K |
| Operating Margin | 9.3% | -27.0% | 9.0% | -18.3% | 8.1% | 40.4% | - | - | - |
| Interest Expense | $54.53M | $54.76M | $59.79M | $49.43M | $24.06M | $11.01M | $6K | $3K | $9K |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$246.65M | -$62.74M | -$56.99M | -$2.27M | -$7.94M | -$10.37M | -$6K | -$3K | -$959K |
| Income Before Tax (EBT) | -$169.14M | -$299.92M | $27.8M | -$163.4M | $51.62M | $86.81M | -$64K | -$103K | -$1.02M |
| Income Tax Expense | $93.28M | $41.94M | $145.15M | $105.47M | $103.07M | $44.53M | -$3K | -$9K | $0 |
| Net Income | -$262.42M | -$341.86M | -$117.35M | -$269.16M | -$57M | $40.43M | -$61K | -$94K | -$1.02M |
| Net Income Margin | -31.4% | -38.9% | -12.5% | -30.6% | -7.8% | 16.8% | - | - | - |
| Supplementary Data | |||||||||
| EPS | -3.60 | -4.75 | -1.75 | -4.05 | -1.00 | 0.70 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | -3.60 | -4.75 | -1.75 | -4.05 | -1.00 | 0.70 | 0.00 | 0.00 | 0.00 |
| Weighted Average OS | 72.65M | 71.75M | 68.81M | 66.28M | 58.09M | 58.02M | 58.02M | 3.31B | 3.31B |
| EBITDA | $216.04M | -$94.29M | $239.22M | $36.35M | $154.96M | $103.27M | -$58K | -$100K | -$1.01M |
| EBITDA Margin | 25.8% | -10.7% | 25.5% | 4.1% | 21.2% | 42.9% | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2017-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $82.57M | $87.8M | $174.76M | $84.85M | $77.73M | $16.4M | $933 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $82.57M | $87.8M | $174.76M | $84.85M | $77.73M | $16.4M | $933 | $0 |
| Accounts Receivable | $42.84M | $45.41M | $38.98M | $16.58M | $13.88M | $11.32M | $2K | $10K |
| Inventory | $229.97M | $184.46M | $140.69M | $164.53M | $0 | $37.35M | $0 | $0 |
| Other Current Assets | $48.54M | $39.85M | $39.77M | $52.31M | $110.05M | $6.17M | $0 | $0 |
| Total Current Assets | $403.91M | $357.51M | $394.2M | $318.27M | $216.97M | $71.25M | $2K | $10K |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $491.58M | $637.88M | $594.76M | $608.18M | $402.76M | $155.97M | $0 | $0 |
| Goodwill | $160.72M | $246.23M | $231.29M | $269.09M | $288.7M | $16.03M | $0 | $0 |
| Intangible Assets | $578.04M | $734M | $1.09B | $1.18B | $1.08B | $72.42M | $0 | $0 |
| Long-Term Investments | $0 | $0 | $100K | $6.98M | $5.87M | $11.55M | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $125.96M | $13.33M | $12.25M | $12.77M | $1.16M | $2.44M | $0 | $461K |
| Total Long-Term Assets | $1.36B | $1.63B | $1.92B | $2.08B | $1.78B | $258.4M | $0 | $461K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.76B | $1.99B | $2.32B | $2.4B | $2B | $329.65M | $2K | $471K |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $38.67M | $39.93M | $31.28M | $40.5M | $35.42M | $18.29M | $0 | $0 |
| Short-Term Debt | $19.79M | $18.15M | $52.01M | $24.46M | $10.8M | $9.62M | $56K | $478K |
| Current Income Tax Payable | $0 | $58.76M | $248.47M | $252.77M | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $143K | $0 | $0 | $0 | $297.55M | $47.22M | $26K | $140K |
| Total Current Liabilities | $140.01M | $203.11M | $412.19M | $386.64M | $469.88M | $116.29M | $82K | $618K |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $391.17M | $395.7M | $393.64M | $388.54M | $275.78M | $32.48M | $9K | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $255K | $1.18M | $2.04M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $58.35M | $344.68M | $182.22M | $196.47M | $263.87M | $14.82M | $0 | $0 |
| Other Long-Term Liabilities | $378.65M | $1.91M | $3.23M | $5.74M | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $919.09M | $840.17M | $666.48M | $667.86M | $597.57M | $59.96M | $9K | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.06B | $1.04B | $1.08B | $1.05B | $1.07B | $176.25M | $91K | $618K |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1.74B | $1.74B | $1.68B | $1.67B | $1.2B | $137.91M | $1.09M | $941K |
| Retained Earnings | -$1.04B | -$783.61M | -$441.75M | -$324.4M | -$43.26M | $9.25M | -$1.29M | -$1.2M |
| Comprehensive Income & Other | $0 | $5K | -$13K | -$8K | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | -$1 | $5K | -$13K | -$8K | $319.03M | $0 | $120K | $114K |
| Total Equity | $702.87M | $952.17M | $1.24B | $1.34B | $1.48B | $147.16M | -$89K | -$147K |
| Minority Interest | -$1.77M | -$1.35M | $0 | $0 | $1.27M | $6.24M | $0 | $0 |
| Total Liabilities and Equity | $1.76B | $1.99B | $2.32B | $2.4B | $2.55B | $323.41M | $2K | $471K |
| Supplementary Data | ||||||||
| Total Debt | $501.88M | $522.98M | $542.79M | $498.75M | $277.07M | $52.72M | $65K | $478K |
| Net Debt | $419.31M | $435.19M | $368.03M | $413.89M | $199.34M | $36.32M | $64K | $478K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$262.42M | -$341.86M | -$117.35M | -$268.87M | -$57M | $40.43M | -$61K | -$94K |
| Depreciation & Amortization | $138.53M | $150.86M | $151.63M | $150.32M | $95.4M | $8.28M | $0 | $0 |
| Deferred Income Tax | -$38.11M | $0 | $0 | $0 | $0 | -$586K | $0 | $0 |
| Stock-Based Compensation | $0 | $16.95M | $13.23M | $39.05M | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$1.51M | -$2.75M | -$22.68M | $821K | -$6.61M | -$2.64M | -$2K | $9K |
| Inventory | -$47.58M | -$15.89M | $23.89M | -$24.23M | -$58.98M | -$24.08M | $0 | $0 |
| Accounts Payable | $5.47M | -$4.18M | -$8.88M | -$7.58M | $9.83M | $1.87M | $0 | $0 |
| Other Working Capital | $46.95M | -$38.47M | $7.47M | -$7.96M | $72.93M | $44.7M | $3K | $44K |
| Total Working Capital Change | $3.33M | -$61.29M | -$194K | -$38.96M | $17.17M | $19.85M | $1K | $54K |
| Other Non-Cash Items | $212.46M | $347.53M | $62.4M | $212.8M | $135.89M | $11.21M | $6K | $30K |
| Net Cash from Operating | $53.78M | $112.19M | $109.71M | $94.35M | $191.45M | $79.18M | -$53K | -$11K |
| Investing Activities | ||||||||
| Capital Expenditures | -$41.95M | -$99.05M | -$37M | -$119.17M | -$148.32M | -$70.71M | $0 | $0 |
| Acquisitions | $360K | -$35.88M | -$11.27M | -$94.93M | -$312.98M | -$23.06M | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | -$3.32M | $0 | $0 | $0 |
| Sales of Investments | $9.23M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$814K | $1.67M | $14.12M | $6.25M | $4.28M | $305K | $0 | $0 |
| Net Cash from Investing | -$33.17M | -$133.25M | -$34.15M | -$207.85M | -$460.35M | -$93.46M | $0 | $0 |
| Financing Activities | ||||||||
| Debt Repaid | - | - | -$29.22M | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $74.44M | $2.31M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$6.85M | -$4.62M | -$13.76M | $632K | $73.1M | -$48K | -$11K | $0 |
| Net Cash from Financing | -$25.76M | -$65.93M | $14.35M | $99.25M | $350.89M | $26.6M | $54K | $11K |
| Forex Effect | -$15K | $18K | -$5K | -$8K | $594K | $4.08M | $7 | $0 |
| Net Change in Cash | -$5.17M | -$86.96M | $89.91M | -$14.27M | $82.58M | $16.4M | $788 | $145 |
| Supplementary Data | ||||||||
| Operating Cash Flow | $53.78M | $112.19M | $109.71M | $94.35M | $191.45M | $79.18M | -$53K | -$11K |
| Capital Expenditure | -$41.95M | -$99.05M | -$36.33M | -$119.17M | -$140.02M | -$63.33M | $0 | $0 |
| Free Cash Flow | $11.83M | $13.15M | $73.38M | -$24.83M | $51.43M | $15.85M | -$53K | -$11K |
| Cash at Beginning | $87.74M | $174.76M | $84.85M | $99.12M | $16.4M | $933 | $145 | $0 |
| Cash at End | $82.57M | $87.8M | $174.76M | $84.85M | $98.98M | $16.4M | $933 | $145 |