Verano Reports $208M Q1 Revenue, $13.1M Operating Income and $20M Buyback
Verano posted Q1 2026 net revenues of $208.2M, up 1% sequentially but down 1% year-over-year, with operating income of $13.1M versus a $157.6M loss in the prior quarter and adjusted EBITDA of $49.0M. The company also authorized a $20M share repurchase program.
1. Q1 2026 Financial Results
Verano generated net revenues of $208.2 million for Q1 2026, up 1% sequentially and down 1% year-over-year. Gross profit was $98.9 million, operating income reached $13.1 million versus a $157.6 million loss last quarter, adjusted EBITDA was $49.0 million and net loss narrowed to $17.8 million.
2. $20 Million Share Repurchase Authorization
Verano authorized the repurchase of up to $20 million of common stock to enhance shareholder value. The program permits open-market purchases on Cboe Canada under prevailing market conditions and is subject to regulatory requirements.