Verano Holdings Corp. Reports Strong Q1 2026 Results, Announces \$20 Million Share Repurchase Authorization
Key Highlights from the First Quarter 2026 Report
- Revenue: Verano Holdings Corp. (“Verano” or the “Company”) reported revenues, net of discounts, of \$208 million for Q1 2026. This figure represents a 1% increase versus the prior quarter and a 1% decrease year-over-year.
- Gross Profit: Gross profit for the quarter reached \$98.98 million, with a gross margin of 48%. This margin is within the Company’s guidance range and reflects operational efficiency.
- Adjusted EBITDA: Adjusted EBITDA was reported at \$49 million, equating to 24% of revenue. This is a non-GAAP measure but is significant for understanding core operating performance.
- Net Cash Provided by Operating Activities: The Company generated \$19 million in net cash from operations during the quarter.
- Capital Expenditures: Capex for the quarter stood at \$15 million.
- Net Loss: The Company reported a net loss attributable to Verano Holdings Corp. & Subsidiaries of \$(17.82) million for the quarter. This is an improvement from a net loss of \$(183.41) million in Q4 2025 and a net loss of \$(11.52) million in Q1 2025.
- Total Shares Outstanding: As of March 31, 2026, Verano had 364,343,003 shares of common stock outstanding.
Shareholder-Focused Updates and Price-Sensitive Information
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Major Share Repurchase Authorization:
- On April 30, 2026, Verano’s Board of Directors authorized the repurchase of up to \$20 million in shares of the Company’s common stock (the “Shares”), which are listed for trading on Cboe Canada.
- The Company is authorized to purchase up to an aggregate of 18,219,090 Shares (representing 5% of the issued and outstanding Shares as of March 31, 2026).
- Share repurchase programs are typically viewed positively by the market, as they can signal management’s confidence in the intrinsic value of the Company, improve return on equity, and potentially support the share price by reducing supply.
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Financial Results May Impact Valuation:
- The Company showed sequential revenue growth and improved operational cash flow, despite reporting a net loss. The improvement in net loss compared to previous quarters may be viewed favorably, especially in a sector where profitability can be volatile.
- Gross margins remained robust, and Adjusted EBITDA margin of 24% indicates solid underlying profitability, excluding non-cash and non-recurring items.
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Conference Call and Webcast:
- Verano will host a conference call and webcast with analysts and investors on April 30, 2026, at 8:30 a.m. ET (7:30 a.m. CT) to discuss these results. Investors are encouraged to attend for further management commentary and Q&A, which could provide additional insights relevant to the share price.
Financial Summary Table
| Metric |
Q1 2026 |
Q4 2025 |
Q1 2025 |
| Revenues (Net of Discounts) |
\$208.18M |
\$209.81M |
\$209.81M |
| Gross Profit |
\$98.98M |
\$105.70M |
\$13.10M |
| Gross Profit Margin |
48% |
51% |
~6% |
| Net Loss (Attributable to Verano & Subsidiaries) |
\$(17.82)M |
\$(183.41)M |
\$(11.52)M |
| Adjusted EBITDA |
\$49.00M |
Data not shown |
Data not shown |
| Adjusted EBITDA Margin |
24% |
Data not shown |
Data not shown |
| Net Cash from Operating Activities |
\$19.00M |
Data not shown |
Data not shown |
| Capital Expenditures |
\$15.00M |
Data not shown |
Data not shown |
| Total Shares Outstanding |
364,343,003 |
Data not shown |
Data not shown |
What Should Investors Watch?
- Share Repurchase Program: This capital allocation decision may support the share price, especially given the authorization to buy back up to 5% of outstanding shares. Investors should monitor the pace and size of repurchases as disclosed in future filings.
- Operating Performance: The Company is demonstrating sequential growth in revenue and operating cash flow, while maintaining healthy gross margins and adjusted EBITDA margins. The narrowing of net losses is also positive, but sustained profitability will be a key metric to watch.
- Sector Risks: As a multi-state cannabis operator, Verano remains subject to regulatory and market risks, including changing laws, pricing pressure, and state-by-state operational complexity.
- Future Guidance and Q&A: The upcoming investor call/webcast may provide additional color on management’s outlook, capital deployment, and potential catalysts. Any updates to guidance or strategic plans could move the share price.
Other Notable Disclosures
- Non-GAAP Measures: The Company uses Adjusted EBITDA and Adjusted EBITDA Margin, which are not defined under U.S. GAAP, to provide additional insight into its operational performance. Investors are encouraged to review the reconciliation tables provided in the press release for details.
- Legal and Regulatory: The Company cautions that forward-looking statements are subject to risks and uncertainties, including those described in its 2025 Form 10-K filed with the SEC. Investors should consider these risk factors when evaluating the Company’s prospects.
Contact Information
Disclaimer
The information provided in this article is a summary of Verano Holdings Corp.’s Form 8-K and associated press releases for the quarter ended March 31, 2026. This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. All forward-looking statements are subject to risks and uncertainties as described in the Company’s filings with the SEC. Investors are encouraged to review the full filings and consult with their financial advisors before making any investment decisions.
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