Verano Hldgs Stock Price, News & Analysis

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced the opening of its 50th and 51st Florida dispensaries, MÜV Fort Myers Cypress and MÜV Sarasota Main, on July 9, 2022. These new locations expand Verano's reach in a rapidly growing market, with Florida's medical cannabis sales projected to reach $2.5 billion by 2026, supported by over 734,000 qualified patients. Verano operates 103 dispensaries and 13 cultivation facilities across 13 states, underscoring its significant presence in the cannabis industry.

Verano Holdings Corp. (CSE: VRNO) has opened its 49th Florida dispensary, MÜV Tamarac, on July 1, 2022. Located at 6510 University Drive, it serves a bustling area with an average of 53,000 vehicles daily. The dispensary aims to enhance access to medical cannabis for over 732,000 registered patients in Florida, where sales are projected to hit $2.5 billion by 2026. Verano operates 102 dispensaries across 13 states, with a cultivation capacity exceeding 1 million square feet.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has announced the opening of its 48th Florida dispensary, MÜV Winter Haven, on June 29, 2022. The new location, situated at 6900 Cypress Garden Boulevard, benefits from an average daily traffic of 28,000 vehicles and serves a rapidly growing Polk County population of 753,520. Verano operates 101 dispensaries across 13 states with over 1 million square feet of cultivation capacity. MÜV Winter Haven offers online browsing, ordering options, and a wide range of cannabis products.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) confirmed the filing of its reviewed first quarter 2022 financial statements on June 17, 2022, which amend previously filed statements. Key highlights include a Free Cash Flow of -$13.8 million due to $48.3 million in capital expenditures and Adjusted EBITDA of $80.8 million. The company's cash position remains unchanged at $140 million. Verano emphasizes the use of non-GAAP measures for performance evaluation, which are not standardized and may differ from similar metrics of other companies.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its largest national fundraising campaign supporting cannabis criminal justice reform through a partnership with Mission Green. Starting June 3, 2022, Verano will contribute $50,000 and match up to $13,000 monthly in customer donations across its nearly 100 dispensaries in 13 states. The campaign honors Weldon Angelos, who served 13 years for cannabis-related charges. Verano aims to raise awareness and support for cannabis clemency, expungement, and legal assistance for affected individuals, enhancing its advocacy for reform.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) has opened its second dispensary in West Virginia, Zen Leaf Westover, located at 871 Fairmont Road. The new location is strategically placed on a high-traffic highway, potentially reaching up to 49,000 vehicles daily. Verano operates 99 dispensaries across 13 states and has announced plans for more openings in West Virginia, with sales projected to reach $49 million by 2026. The dispensary offers a range of cannabis therapeutics and aims to serve the growing medical cannabis community.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) reported a strong Q1 2022 with revenues soaring by 67% to $202 million compared to Q1 2021. The gross profit reached $100 million, representing 49% of revenue. However, the company reported a net loss of $7 million, worsening from a loss of $2 million in the previous year. Operationally, Verano expanded its retail footprint by opening three new dispensaries and launching adult-use sales in New Jersey. The company ended Q1 2022 with $340 million in current assets and $384 million in total debt.