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Verano Holdings vs TerrAscend: VRNO and TSNDF compared
Verano Holdings is the larger company: $212M of revenue in its latest quarter (Q3 2026) against $68.2M for TerrAscend (Q3 2026). TerrAscend is growing faster (+5% against +5% a year earlier). TerrAscend is more profitable, with an operating margin of 15.1% against 5.6%.
Where the money goes: VRNO and TSNDF
Verano Holdings (VRNO) · Q3 2026
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.
TerrAscend (TSNDF) · Q3 2026
TerrAscend, Q3 2026: revenue $68.2M (+5% year over year), operating margin 15.1%, net loss $4.3M, operating cash flow $8.8M. The chart follows the revenue to costs, profit and cash.
| Verano Holdings (VRNO) | TerrAscend (TSNDF) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $212M | $68.2M |
| Revenue growth, Y/Y | +5% | +5% |
| Operating margin | 5.6% | 15.1% |
| Net earnings | −$4.1M | −$4.3M |
| Net margin | -1.9% | -6.4% |
| Operating cash flow | $48.7M | $8.8M |
| Free cash flow | $35.6M | $6.1M |
Where the revenue comes from
TerrAscend
- New Jersey Segment: $25.3M (37%)
- Maryland Segment: $18.7M (27%)
- Pennsylvania Segment: $18.6M (27%)
- All Other Segments: $5.5M (8%)
Questions
Which is bigger, Verano Holdings or TerrAscend?
Verano Holdings is the larger company: $212M of revenue in its latest quarter (Q3 2026) against $68.2M for TerrAscend (Q3 2026).
Is Verano Holdings or TerrAscend growing faster?
TerrAscend is growing faster (+5% against +5% a year earlier).
Which is more profitable, Verano Holdings or TerrAscend?
TerrAscend is more profitable, with an operating margin of 15.1% against 5.6%.
More: Verano Holdings earnings · how Verano Holdings makes money · TerrAscend earnings · how TerrAscend makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.