Verano Hldgs Stock Price, News & Analysis

Verano Holdings reported its Q4 and full year 2024 financial results, showing mixed performance. Q4 revenue was $218 million, down 8% year-over-year but up 1% from Q3. Full-year 2024 revenue reached $879 million, a 6% decrease from 2023.

The company reported a significant net loss of $(273) million in Q4 and $(342) million for the full year, primarily due to fixed and intangible asset impairments. Despite challenges, Q4 showed $63 million in Adjusted EBITDA (29% of revenue) and $44 million in operating cash flow.

Operational highlights include entering the Virginia market, opening 17 new dispensaries across six markets, and launching new products. The company currently operates 153 dispensaries and 15 production facilities across 13 states, with over 1.1 million square feet of cultivation capacity.

Verano Holdings (OTCQX: VRNOF) announced the opening of MÜV North Miami Beach, marking its 80th location in Florida and 153rd dispensary nationwide. The new store, located at 16635 NE 19th Avenue, will serve Miami-Dade County's population of over 2.6 million residents.

The dispensary is strategically positioned west of Biscayne boulevard on 19th Avenue, a high-traffic area with 25,000 vehicles daily. It complements Verano's existing Miami-Dade locations in North Miami-Biscayne, Miami-Kendall, and Naranja.

To celebrate the opening, the dispensary will offer special promotions including 50% off from February 21-23, $8 eighths on Friday, and free swag bags while supplies last. The location will operate Monday-Saturday (9am-7pm) and Sunday (11am-5pm), offering Verano's product lines including Verano Reserve, MÜV, Sweet Supply flower, Encore edibles, and On the Rocks concentrates.

Verano Holdings (OTCQX: VRNOF) has announced it will release its fourth quarter and full year 2024 financial results on Thursday, February 27, 2025, before market opens. The multi-state cannabis company will host a conference call and webcast with analysts and investors at 8:30 a.m. ET / 7:30 a.m. CT on the same day to discuss results and answer questions.

Participants can register in advance for the call through the provided registration link. The live webcast will be accessible through the company's investor relations website, with an archived version available on the Events and Presentations page.

Verano Holdings announced the opening of Zen Leaf Mount Holly, its fourth dispensary in New Jersey and 153rd retail location nationwide. Located at 600 High Street, Mount Holly, the new dispensary will serve Burlington County's 400,000+ residents. The store will offer various opening deals, including buy-one-get-one offers and up to 30% discounts on select products. Verano's New Jersey presence includes other Zen Leaf dispensaries in Elizabeth, Lawrence Township, and Neptune Township, plus a 120,000 square foot cultivation facility in Branchburg. The company operates across 14 states with 153 dispensaries and 15 cultivation facilities, totaling over 1.1 million square feet of cultivation capacity.

Verano Holdings reported Q3 2024 financial results with revenues of $217 million, down 2.6% from the previous quarter and 9.7% year-over-year. The company posted a gross profit of $109 million (50% of revenue) and a net loss of $43 million. The decline in revenue was primarily attributed to decreased Florida retail sales due to temporary cultivation output shifts and expected declines in Illinois and New Jersey retail operations. Operating expenses increased due to higher headcount from new store openings. The company expanded its retail footprint with new MÜV and Zen Leaf locations, now operating 152 dispensaries across 14 states.

Verano Holdings has announced the commencement of adult use cannabis sales at Zen Leaf Waterbury in Connecticut, completing the conversion of all five Connecticut Zen Leaf dispensaries from medical to hybrid sales. Located at 237 East Aurora Street in Waterbury, Connecticut's fifth-largest city, the dispensary features enhanced amenities including digital kiosks, 95 parking spaces, and access to the Cabbage Club™ membership program.

The location will operate Monday through Saturday, serving medical patients from 8 a.m. to 8 p.m. and adult use customers from 10 a.m. to 8 p.m. The grand opening celebration includes special promotions, food trucks, and demonstrations. Verano maintains a significant presence in Connecticut with five Zen Leaf locations and a 217,000 square-foot CTPharma cultivation facility in Rocky Hill.

Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF), a leading multi-state cannabis company, has announced its plans to release financial results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024, before the market opens. The company will host a conference call and webcast with analysts and investors on the same day at 8:30 a.m. ET / 7:30 a.m. CT to discuss the results and answer questions.

Interested parties can register in advance for the call through a provided link. The live webcast will be accessible via a separate link, and both the live and archived versions will be available on the Events and Presentations page of Verano's investor relations website at investors.verano.com.

Verano Holdings Corp. (OTCQX: VRNOF) announced the grand opening of Zen Leaf Arcadia in Phoenix, AZ, on September 27th. The dispensary, formerly known as Local Joint, has relocated to 2710 E Indian School Road, a busy thoroughfare with over 54,000 daily vehicles. This opening follows Verano's recent acquisition of Arizona and Virginia operations from The Cannabist Company, expanding its Arizona footprint to eight retail locations and 90,000 square feet of cultivation and processing capacity.

Zen Leaf Arcadia will offer enhanced features including additional point-of-sale stations, increased parking, and an original cannabis-inspired mural. The grand opening weekend will feature food trucks, DJs, and special deals. Verano's active operations now span 14 states, with 152 dispensaries and 15 cultivation and processing facilities, totaling over 1.1 million square feet of cultivation capacity.

Verano Holdings Corp. (OTCQX: VRNOF) has launched the 'Save the Bits' fundraising campaign for Breast Cancer Awareness Month. Starting October 1st, a portion of proceeds from sales of BITS™ edibles across hundreds of dispensaries in eight states will be donated to the Lynn Sage Breast Cancer Foundation.

The campaign involves 225 dispensaries, including 134 Zen Leaf and MÜV locations, and 91 participating third-party dispensaries. Nearly 40 third-party cannabis companies are participating through in-store and digital activations in Arizona, Florida, Illinois, Maryland, Massachusetts, Nevada, New Jersey, and Pennsylvania.

Since 2021, Verano has collaborated with the Lynn Sage Breast Cancer Foundation, generating over $250,000 in proceeds. Supporters can use the hashtag #SaveTheBits on social media for a chance to win a custom t-shirt, which will also be available for sale at participating Verano retail dispensary locations.