Filing Flows › Verano Holdings (VRNO) › Q2 2026
Verano Holdings (VRNO) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Verano Holdings (VRNO) reported revenue of $218M for the second quarter 2026 (Q2 2026), +8% from a year earlier and +5% from the quarter before. Operating margin was 1.4%, net loss $13.4M (6.2% of revenue).
Verano Holdings, Q2 2026: revenue $218M (+8% year over year), operating margin 1.4%, net loss $13.4M, operating cash flow $30.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $218M | +5% | +8% |
| Operating profit | $3.1M | -76% | -88% |
| Net earnings | −$13.4M | — | — |
| Operating cash flow | $30.6M | +65% | +181% |
| Free cash flow | $18.8M | +414% | 44× |
What changed
Revenue was $217.9M in Q2 2026, up 8% year over year and up 5% from the previous quarter.
Gross margin was 45.8%, down 10.1 points from Q2 2025. Operating profit was $3.1M, a 1.4% margin (down 11.5 points year over year). Operating profit fell $23.1M even though revenue rose $15.6M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 11% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+849%). The quarter ended with a net loss of $13.4M, narrower than the previous quarter's $17.8M loss. Net interest and other expense of $13.6M was the main reason.
Operating cash flow was $30.6M (up 181% year over year). Non-cash charges added back $29.4M of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $8.9M. Capital expenditures of $11.9M left free cash flow of $18.8M.
Questions
What was Verano Holdings' revenue in the second quarter 2026?
Verano Holdings (VRNO) reported revenue of $218M for the second quarter 2026 (Q2 2026), +8% from a year earlier and +5% from the quarter before.
Was Verano Holdings profitable in the second quarter 2026?
Operating profit was $3.1M (1.4% of revenue) and net loss $13.4M.
Source: Verano Holdings 10-Q on SEC EDGAR.