Filing Flows › Vireo Growth (VREOF) › Q1 2026 › vs Q1 2025
Vireo Growth (VREOF) Q1 2026 vs Q1 2025 (year over year)
Vireo Growth's revenue rose $81.7M (+333%) from $24.5M in Q1 2025 to $106M in Q1 2026. The biggest changes: Retail +$70.7M (+368%); Wholesale +$11.0M (+208%).
Vireo Growth, Q1 2026: revenue $106M (+334% year over year), operating margin 8.5%, net loss $20.3M, operating cash flow $11.9M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 1.0% | -18.4% | +19.4 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Retail | $89.9M | $19.2M | $70.7M | +368% |
| Wholesale | $16.3M | $5.3M | $11.0M | +208% |
| Revenue | $106M | $24.5M | $81.7M | +333% |
| Net loss | $20.3M | $6.5M | $13.8M | +212% |
| Costs & expenses | $126M | $31.0M | $95.5M | +308% |
| Operating costs | $97.2M | $22.5M | $74.7M | +332% |
| Interest & other, net | $13.2M | $6.8M | $6.4M | +94% |
| Income tax | $16.1M | $1.7M | $14.4M | +847% |
| Cost of revenue | $46.9M | $12.1M | $34.8M | +288% |
| SG&A | $30.8M | $7.4M | $23.4M | +316% |
| Other operating costs | $19.5M | $3.0M | $16.5M | +550% |
| Operating cash sources | $32.2M | $3.1M | $29.1M | +939% |
| Depreciation & amortization | $4.0M | $600K | $3.4M | +567% |
| Share-based compensation | $7.0M | $1.5M | $5.5M | +367% |
| Working capital & other | $21.2M | $1.0M | $20.2M | 21× |
| Net loss absorbed | $20.3M | $6.5M | $13.8M | +212% |
| Operating cash flow | $11.9M | −$3.4M | $15.3M | — |
| Free cash flow (OCF − capex) | $1.1M | −$4.5M | $5.6M | — |
| Capital expenditures | $10.8M | $1.1M | $9.7M | +882% |
Questions
How much did Vireo Growth's revenue grow year over year in Q1 2026?
Vireo Growth's revenue rose $81.7M (+333%) from $24.5M in Q1 2025 to $106M in Q1 2026.
What drove Vireo Growth's revenue change in Q1 2026?
Retail +$70.7M (+368%); Wholesale +$11.0M (+208%).