Vireo Growth reports Q4 EPS (7c) vs. (3c) last year

Reports Q4 revenue $25M vs. $24.2M last year. CEO John Mazarakis commented, “We are pleased to deliver record revenue, gross margin, and operating income in 2024, and to close the year with an annual revenue run rate of $100 million. Fourth quarter results were impacted by one-time transaction expenses of $4.2 million related to our pending merger transactions, but we remain pleased with continued strength in operating performance. We are building a portfolio of prolific brands and local operators, and positioned well to capitalize on what we believe is an attractive platform for growth. We believe our merger transactions, combined with growth investments in Vireo’s legacy markets, and the launch of adult-use sales in Minnesota position us for a transformational year in 2025.”