Verano Reports $203M in Q3 Revenue, $44M Net Loss | How to order Skittles Moonrock online

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[PRESS RELEASE] – CHICAGO, Oct. 29, 2025 – Verano Holdings Corp., a leading multistate cannabis company, announced its financial results for the third quarter ended Sept. 30, 2025, which were prepared in accordance with U.S. generally accepted accounting principles (GAAP).

Third Quarter 2025 Financial Highlights

Third Quarter 2025 Financial Highlights

• Revenues, net of discounts of $203 million.
• Gross profit of $95 million or 47% of revenue.
• SG&A expenses of $81 million or 40% of revenue.
• Net Loss of $(44) million or (22)% of revenue.
• Adjusted EBITDA¹ of $53 million or 26% of revenue.
• Net cash provided by operating activities of $26 million.
• Capital expenditures of $8 million.

Management Commentary

“This quarter reflects our hard work positioning Verano ahead of long-term growth opportunities by investing in infrastructure, generating efficiencies, improving wholesale and brand performance, and strengthening our capital structure and financial foundation for the future,” Verano founder, Chairman and CEO George Archos said.