VRNO on OTC
Verano Holdings Corp.
American agricultural production-crops company based in Chicago.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
50.3%Gross margin3
-13.0%Operating margin3
-31.4%Net margin3
-6.5%Revenue growth, 20253
-36.6%Return on equity3
0.56×Debt to equity3
$11.6MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Retail brought in 68% of the revenue Verano Holdings Corp. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Retail | $741.3M | $672.3M | $672.7M |
| Wholesale | $349.0M | $353.5M | $318.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue49¢$408.0M
- Selling, general and admin40¢$337.3M
- Income tax11¢$91.7M
Out of $821.5M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending78¢$41.2M
- Kept or used elsewhere22¢$11.6M
Out of $52.9M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues, net of Discounts | $821.5M | $878.6M | $938.5M |
| Cost of Goods Sold, net | $408.0M | $434.7M | $463.2M |
| Gross Profit | $413.5M | $443.9M | $475.2M |
| Selling, General, and Administrative Expenses | $337.3M | $353.4M | $331.9M |
| Loss on Impairment - Investment in Associates | $0 | $0 | $6.6M |
| Loss on Impairment of Intangibles Goodwill | $86.6M | $8.2M | $37.9M |
| Loss on Impairment of Intangibles, Fixed Assets & Held For Sale Assets | $96.7M | $319.5M | $13.7M |
| Total Operating Expenses | $520.6M | $681.1M | $390.1M |
| Loss from Investments in Associates | $0 | $0 | -$306.0K |
| Income (Loss) from Operations | -$107.1M | -$237.2M | $84.8M |
| Loss on Disposal of Property, Plant and Equipment | -$1.9M | -$1.1M | -$1.1M |
| Gain on Deconsolidation | $4.7M | $0 | $0 |
| Gain (Loss) on Debt Extinguishment | $1.9M | -$3.1M | -$663.0K |
| Interest Expense, net | -$53.6M | -$54.8M | -$59.8M |
| Other Income (Expense), net | -$10.3M | -$3.8M | $4.6M |
| Total Other Income (Expense), net | -$59.1M | -$62.7M | -$57.0M |
| Income (Loss) Before Provision for Income Taxes and Non-Controlling Interest | -$166.2M | -$299.9M | $27.8M |
| Provision For Income Taxes | -$91.7M | -$41.9M | -$145.1M |
| Net Loss Attributable to Verano Holdings Corp. & Subsidiaries | -$257.9M | -$341.9M | -$117.3M |
| Net Loss per share - basic (in dollars per share) | -$0.71 | -$0.98 | -$0.34 |
| Net Loss per share - diluted (in dollars per share) | -$0.71 | -$0.98 | -$0.34 |
| Basic - weighted average shares outstanding (in shares) | 360.9M shares | 349.6M shares | 342.8M shares |
| Diluted - weighted average shares outstanding (in shares) | 360.9M shares | 349.6M shares | 342.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2025-10-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $82.7M | $87.8M | ||
| Accounts Receivable, net | $30.9M | $40.3M | ||
| Held for Sale Assets | $27.8M | $32.1M | ||
| Inventory | $230.0M | $184.5M | ||
| Income Tax Receivable | $12.0M | $5.1M | ||
| Prepaid Expenses and Other Current Assets | $21.2M | $12.8M | ||
| Total Current Assets | $404.7M | $362.7M | ||
| Property, Plant and Equipment, net | $492.5M | $538.0M | $501.3M | |
| Right-of-Use Assets, net | $93.8M | $99.9M | ||
| Intangible Assets, net | $579.1M | $734.0M | ||
| Goodwill | $161.0M | $246.2M | $231.3M | |
| Deposits and Other Assets | $10.6M | $13.3M | ||
| TOTAL ASSETS | $1.7B | $2.0B | ||
| Accounts Payable | $38.7M | $39.9M | ||
| Accrued Liabilities | $69.3M | $68.9M | ||
| Income Tax Payable | $12.1M | $63.9M | ||
| Current Portion of Lease Liabilities | $12.0M | $11.2M | ||
| Current Portion of Debt | $7.9M | $18.2M | ||
| Acquisition Consideration Payable | $270.0K | $935.0K | ||
| Total Current Liabilities | $140.3M | $203.1M | ||
| Debt, net of Current Portion | $391.9M | $395.7M | ||
| Lease Liabilities, net of Current Portion | $91.1M | $97.9M | ||
| Uncertain Tax Positions | $378.3M | $270.6M | $3.0M | |
| Deferred Income Taxes | $36.6M | $74.1M | ||
| Other Long-Term Liabilities | $1.1M | $1.9M | ||
| Total Long-Term Liabilities | $899.0M | $840.2M | ||
| TOTAL LIABILITIES | $1.0B | $1.0B | ||
| Preferred Stock; $0.001 par value, 1,000,000,000 authorized. No Preferred Stock issued or outstanding as of December 31, 2025. | $0 | $0 | ||
| Share Capital | $1.7B | $1.7B | ||
| Accumulated OCI | $0 | $5.0K | ||
| Accumulated Deficit | -$1.0B | -$783.6M | ||
| TOTAL STOCKHOLDERS EQUITY | $704.2M | $952.2M | ||
| NON-CONTROLLING INTEREST | -$1.8M | -$1.4M | ||
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $1.7B | $2.0B | ||
| Common stock, par value per share (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 5.0B shares | |||
| Common stock, shares, issued (in shares) | 363.2M shares | |||
| Common stock, shares, outstanding (in shares) | 363.2M shares | |||
| Preferred stock, par value per share (in dollars per share) | $0.00 | |||
| Preferred stock, shares authorized (in shares) | 1.0B shares | |||
| Preferred stock, shares issued (in shares) | 0 shares | |||
| Preferred stock, shares outstanding (in shares) | 0 shares |
| Period ending | 2025-12-31 | 2025-10-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $82.7M | $87.8M | ||
| Accounts Receivable, net | $30.9M | $40.3M | ||
| Held for Sale Assets | $27.8M | $32.1M | ||
| Inventory | $230.0M | $184.5M | ||
| Income Tax Receivable | $12.0M | $5.1M | ||
| Prepaid Expenses and Other Current Assets | $21.2M | $12.8M | ||
| Total Current Assets | $404.7M | $362.7M | ||
| Property, Plant and Equipment, net | $492.5M | $538.0M | $501.3M | |
| Right-of-Use Assets, net | $93.8M | $99.9M | ||
| Intangible Assets, net | $579.1M | $734.0M | ||
| Goodwill | $161.0M | $246.2M | $231.3M | |
| Deposits and Other Assets | $10.6M | $13.3M | ||
| TOTAL ASSETS | $1.7B | $2.0B | ||
| Accounts Payable | $38.7M | $39.9M | ||
| Accrued Liabilities | $69.3M | $68.9M | ||
| Income Tax Payable | $12.1M | $63.9M | ||
| Current Portion of Lease Liabilities | $12.0M | $11.2M | ||
| Current Portion of Debt | $7.9M | $18.2M | ||
| Acquisition Consideration Payable | $270.0K | $935.0K | ||
| Total Current Liabilities | $140.3M | $203.1M | ||
| Debt, net of Current Portion | $391.9M | $395.7M | ||
| Lease Liabilities, net of Current Portion | $91.1M | $97.9M | ||
| Uncertain Tax Positions | $378.3M | $270.6M | $3.0M | |
| Deferred Income Taxes | $36.6M | $74.1M | ||
| Other Long-Term Liabilities | $1.1M | $1.9M | ||
| Total Long-Term Liabilities | $899.0M | $840.2M | ||
| TOTAL LIABILITIES | $1.0B | $1.0B | ||
| Preferred Stock; $0.001 par value, 1,000,000,000 authorized. No Preferred Stock issued or outstanding as of December 31, 2025. | $0 | $0 | ||
| Share Capital | $1.7B | $1.7B | ||
| Accumulated OCI | $0 | $5.0K | ||
| Accumulated Deficit | -$1.0B | -$783.6M | ||
| TOTAL STOCKHOLDERS EQUITY | $704.2M | $952.2M | ||
| NON-CONTROLLING INTEREST | -$1.8M | -$1.4M | ||
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $1.7B | $2.0B | ||
| Common stock, par value per share (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 5.0B shares | |||
| Common stock, shares, issued (in shares) | 363.2M shares | |||
| Common stock, shares, outstanding (in shares) | 363.2M shares | |||
| Preferred stock, par value per share (in dollars per share) | $0.00 | |||
| Preferred stock, shares authorized (in shares) | 1.0B shares | |||
| Preferred stock, shares issued (in shares) | 0 shares | |||
| Preferred stock, shares outstanding (in shares) | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss attributable to Verano Holdings Corp. and Subsidiaries | -$257.9M | -$341.9M | -$117.3M |
| Depreciation and amortization | $124.2M | $139.7M | $141.1M |
| Right-of-use assets amortization | $12.0M | $11.2M | $10.5M |
| Loss on disposal of property, plant and equipment | $1.9M | $1.1M | $1.1M |
| Gain on deconsolidation | -$4.7M | $0 | $0 |
| (Gain) Loss on debt extinguishment | -$1.9M | $3.1M | $663.0K |
| Loss on impairment of intangibles - goodwill | $86.6M | $8.2M | $37.9M |
| Loss on Impairment of Intangibles, Fixed Assets & Held For Sale Assets | $96.7M | $319.5M | $13.7M |
| Loss on impairment of investment in associates | $0 | $0 | $6.6M |
| Decrease in fair value of contingent consideration | $0 | $0 | -$3.5M |
| Stock-based compensation | $11.5M | $16.9M | $13.2M |
| Other, net | $18.8M | $15.7M | $5.9M |
| Accounts receivable, net | $5.4M | -$2.7M | -$22.7M |
| Inventory | -$46.8M | -$15.9M | $23.9M |
| Income tax receivable | -$6.8M | $5.1M | $0 |
| Accounts payable | $5.4M | -$4.2M | -$8.9M |
| Income tax payable | -$51.8M | -$195.1M | -$4.4M |
| Uncertain tax positions | $107.7M | $267.6M | $0 |
| Deferred income taxes | -$37.5M | -$108.5M | -$14.3M |
| Other assets, net | -$4.3M | $9.4M | $7.1M |
| Other liabilities, net | -$5.5M | -$17.0M | $19.0M |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | $52.9M | $112.2M | $109.7M |
| Acquisition of business, net of cash acquired | $0 | -$35.9M | $0 |
| Purchases of property, plant and equipment | -$41.2M | -$99.0M | -$36.3M |
| Proceeds from disposal of assets | $354.0K | $64.0K | $2.2M |
| Proceeds from deconsolidation | $9.1M | $0 | $0 |
| Other investing activities | -$800.0K | $1.6M | $0 |
| NET CASH USED IN INVESTING ACTIVITIES | -$32.6M | -$133.3M | -$34.1M |
| Payment of deferred acquisition price payable | -$708.0K | -$32.0K | -$13.2M |
| Proceeds from issuance of debt | $62.0M | $0 | $79.1M |
| Principal repayments of debt | -$77.9M | -$63.4M | -$49.9M |
| Debt issuance costs paid | -$2.7M | $0 | -$1.6M |
| Payment of debt extinguishment | $0 | -$1.0M | $0 |
| Distributions paid to non-controlling interest holders | -$4.7M | $0 | $0 |
| Other financing activities | -$1.4M | -$1.5M | $0 |
| NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | -$25.3M | -$65.9M | $14.4M |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -$5.1M | -$87.0M | $89.9M |
| Effects of exchange rate fluctuations on cash and cash equivalents | -$5.0K | $18.0K | -$5.0K |
| Interest paid, net | $48.2M | $52.6M | $59.2M |
| Cash paid for taxes | $78.2M | $81.5M | $166.6M |
| Issuance of shares to relieve liability obligations, net | $0 | $2.7M | $2.6M |
| Debt extinguishment in connection with deconsolidation | $1.1M | $0 | $0 |
| Accrued capital expenditures | $8.1M | $20.5M | $4.9M |
| Issuance of debt for acquisition of business | $0 | $25.8M | $0 |
| Issuance of shares under business combinations | $0 | $34.5M | $0 |
| Tangible and intangible assets acquired, net of cash | $644.0K | $83.7M | $227.0K |
| Liabilities | -$2.0M | -$12.4M | |
| Liabilities | $1.5M | ||
| Acquisition consideration payable | $0 | -$58.5M | $11.4M |
| Goodwill | $1.4M | $23.1M | $134.0K |
| Total | $0 | $35.9M | $13.2M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Verano Holdings Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2025
- Chief executive officerGeorge Peter Archos Jun 30, 2022 to now10
- PresidentDarren Henry Weiss Jun 14, 2023 to now11
- PresidentJohn Allen Tipton Jul 5, 2022 to Jun 5, 202312
- Chief financial officerRichard C. Tarapchak Jun 3, 2025 to now13
- Chief financial officerBrett Andrew Summerer Jun 27, 2022 to Jun 3, 202514
- Chief operating officerEdward Aloysious McDermott Iii. Jun 14, 2023 to now15
- Chief operating officerDarren Henry Weiss Jun 27, 2022 to Jun 5, 202316
Board members and other officers (17)
- OfficerGeorge Peter Archos Jun 3, 2026 to now17
- VP, Corporate ControllerJosh Heine Apr 21, 2025 to now18
- OfficerJames Angelo Leventis Jul 2, 2025 to now19
- OfficerJohn Allen Tipton Jun 4, 2024 to now20
- OfficerLaura Marie Kalesnik Aug 25, 2023 to now21
- Chief Investment OfficerAaron Nathaniel Miles Jun 27, 2022 to now22
- EVP, MarketingDavid Spreckman Jun 27, 2022 to now23
- Chief People OfficerDestiny Lynn Thompson Jun 27, 2022 to now24
- Corporate ControllerRichard C. Tarapchak Aug 8, 2022 to now25
- Board memberJohn Allen Tipton Jun 4, 2024 to now20
- Board memberFrederick Charles Mueller Jul 21, 2023 to now26
- Board memberRichard Michael Smullen Jul 1, 2022 to Jun 5, 202327
- Board memberCristina Maria Nunez Jul 8, 2022 to now28
- Board memberLawrence Randall Hirsh Aug 31, 2022 to now29
- Board memberGeorge Peter Archos Sep 26, 2022 to now30
- General counselLaura Marie Kalesnik Jun 14, 2023 to Jun 28, 202331
- General counselDarren Henry Weiss Jun 27, 2022 to Jun 5, 202316
Timeline
- Jun 30, 2022New chief executive George Peter Archos becomes CEO10
Filings
503 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 103 major events, 256 insider forms, 15 large holders, 3 private raises, 109 other. The latest 20:
- Sep 10, 20264 EDGAR
- Aug 5, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Jul 15, 2026EFFECT EDGAR
- Jul 9, 2026S-8 EDGAR
- Jul 8, 2026S-3 EDGAR
- Jul 2, 2026SCHEDULE 13G/A EDGAR
- Jun 23, 20268-K EDGAR
- Jun 18, 20268-K EDGAR
- Jun 11, 20268-K EDGAR
- Jun 10, 20264 EDGAR
- Jun 10, 20264 EDGAR
- Jun 10, 20264 EDGAR
- Jun 10, 20264 EDGAR
- Jun 10, 20264 EDGAR
- Jun 10, 20264 EDGAR
- Jun 9, 20264 PRIMARY DOCUMENT EDGAR
- Jun 8, 20268-K EDGAR
- Jun 3, 20264 PRIMARY DOCUMENT EDGAR
- Jun 3, 20264 PRIMARY DOCUMENT EDGAR
The 503 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 15 such filings since October 2021, the latest 10:
- Jul 2, 2026SCHEDULE 13G/A
- Jan 12, 2026SCHEDULE 13D/A
- Nov 14, 2025SCHEDULE 13G/A
- Aug 29, 2025SCHEDULE 13D/A
- Aug 14, 2025SCHEDULE 13G/A
- Feb 14, 2025SCHEDULE 13G
- Dec 17, 2024SCHEDULE 13D/A
- Feb 2, 2024SC 13G/A
- Dec 29, 2023SC 13D/A
- Sep 18, 2023SC 13D/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Sterling Capital Management LLC | 16 | $104 | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 3
- 4
- 5
- 6
- 7
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- 9
- 10
- 11SEC EDGARDarren Henry Weiss, President
- 12SEC EDGARJohn Allen Tipton, President
- 13
- 14
- 15
- 16
- 17SEC EDGARGeorge Peter Archos, Officer
- 18SEC EDGARJosh Heine, VP, Corporate Controller
- 19SEC EDGARJames Angelo Leventis, Officer
- 20SEC EDGARJohn Allen Tipton, Officer
- 21SEC EDGARLaura Marie Kalesnik, Officer
- 22
- 23SEC EDGARDavid Spreckman, EVP, Marketing
- 24
- 25
- 26
- 27
- 28SEC EDGARCristina Maria Nunez, Board member
- 29SEC EDGARLawrence Randall Hirsh, Board member
- 30SEC EDGARGeorge Peter Archos, Board member
- 31