Filing Flows › Verano Holdings (VRNO) › Q3 2026
Verano Holdings (VRNO) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Verano Holdings (VRNO) reported revenue of $212M for the third quarter 2026 (Q3 2026), +5% from a year earlier and -3% from the quarter before. Operating margin was 5.6%, net loss $4.1M (1.9% of revenue).
Verano Holdings, Q3 2026: revenue $212M (+5% year over year), operating margin 5.6%, net loss $4.1M, operating cash flow $48.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $212M | -3% | +5% |
| Operating profit | $11.9M | +279% | +28% |
| Net earnings | −$4.1M | — | — |
| Operating cash flow | $48.7M | +59% | +85% |
| Free cash flow | $35.6M | +90% | +88% |
What changed
Revenue was $212.4M in Q3 2026, up 5% year over year and down 3% from the previous quarter.
Gross margin was 47.1%, up 0.1 points from Q3 2025. Operating profit was $11.9M, a 5.6% margin (up 1.0 points year over year). Of the extra revenue versus Q3 2025, 27% reached operating profit, above the 5% margin then. Operating expenses grew 3% against revenue growth of 5%. The quarter ended with a net loss of $4.1M, narrower than the previous quarter's $13.4M loss. Net interest and other expense of $8.7M was the main reason.
Operating cash flow was $48.7M (up 85% year over year). Non-cash charges added back $29.8M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $21.8M. Capital expenditures of $13.1M left free cash flow of $35.6M.
Questions
What was Verano Holdings' revenue in the third quarter 2026?
Verano Holdings (VRNO) reported revenue of $212M for the third quarter 2026 (Q3 2026), +5% from a year earlier and -3% from the quarter before.
Was Verano Holdings profitable in the third quarter 2026?
Operating profit was $11.9M (5.6% of revenue) and net loss $4.1M.
Source: Verano Holdings 10-Q on SEC EDGAR.