Verano Holdings Corp. ( (VRNOF) ) has released its Q4 earnings. Here is a breakdown of the information Verano Holdings Corp. presented to its investors.
Verano Holdings Corp., a prominent multi-state cannabis company, operates within the U.S. cannabis industry, providing a wide range of cannabis products and services through its Zen Leaf and MÜV dispensary banners across 13 states.
Verano Holdings Corp. recently released its financial results for the fourth quarter and full year of 2024, revealing a challenging year marked by a decrease in revenue and an increase in net loss. Despite these setbacks, the company expanded its retail footprint and launched new products to adapt to market demands.
In 2024, Verano reported a net revenue of $879 million, a 6% decline from the previous year, primarily due to increased competition and temporary cultivation shifts. The company also faced a significant net loss of $342 million, attributed to asset impairments and fair value adjustments. However, Verano maintained a strong adjusted EBITDA of $264 million, reflecting its operational resilience.
Looking forward, Verano’s management remains optimistic, emphasizing innovation and expansion as key strategies for growth. The company plans to continue enhancing its product offerings and retail presence, aiming to solidify its position as a leading cannabis operator in 2025 and beyond.
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