Vireo Growth (VREOF) Operating Expenses (2020 - 2026)
Vireo Growth's Operating Expenses came in at $101.6 million for Q2 2026, up 353.6% from $22.4 million a year earlier and up 102.0% from the prior quarter.
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Analysis
Vireo Growth (VREOF) Operating Expenses (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Vireo Growth reported Operating Expenses of $247.17 million, up 351.3% year-over-year; for FY2025, it was $128.14 million, up 244.4% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 26.1% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $37.21 million in FY2024 (+11.0%), $33.52 million in FY2023 (-11.4%), $37.85 million in FY2022 (-6.0%) and $40.28 million in FY2021 (+0.3%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q1 2020.
- Year-over-year, Operating Expenses has increased for eight consecutive quarters, with growth averaging 218.7% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q1 2026 (growth of 383.7%), and the weakest in Q2 2024 (a decline of 25.2%).
- Business Quant data shows VREOF's Operating Expenses at $50.3 million (Q1 2026), $58.7 million (Q4 2025) and $36.57 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.14 Bn | 283.71 Bn | 7.66 Bn | - |
| 2 | British American Tobacco p.l.c | 129.64 Bn | 108.78 Bn | - | - |
| 3 | Altria | 115.45 Bn | 101.65 Bn | 3.82 Bn | 21.00 Mn |
| 4 | Curaleaf Holdings | 2.87 Bn | 2.47 Bn | 169.91 Mn | 165.69 Mn |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | -33.52 Mn |
| 6 | Trulieve Cannabis | 2.37 Bn | 989.63 Mn | 162.29 Mn | 532.81 Mn |
| 7 | Green Thumb Industries | 1.53 Bn | 385.54 Mn | 137.87 Mn | 117.91 Mn |
| 8 | Cronos | 1.26 Bn | -1.96 Bn | 28.45 Mn | 21.05 Mn |
| 9 | Turning Point Brands | 1.21 Bn | 343.16 Mn | 93.70 Mn | 76.99 Mn |
| 10 | Vireo Growth | 480.63 Mn | -23.92 Mn | 95.30 Mn | 101.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 101.60 Mn |
| Mar 31, 2026 | 50.30 Mn |
| Dec 31, 2025 | 58.70 Mn |
| Sep 30, 2025 | 36.57 Mn |
| Jun 30, 2025 | 22.40 Mn |
| Mar 31, 2025 | 10.40 Mn |
| Dec 31, 2024 | 13.49 Mn |
| Sep 30, 2024 | 8.47 Mn |
| Jun 30, 2024 | 7.76 Mn |
| Mar 31, 2024 | 7.48 Mn |
| Dec 31, 2023 | 6.67 Mn |
| Sep 30, 2023 | 7.33 Mn |
| Jun 30, 2023 | 10.37 Mn |
| Mar 31, 2023 | 9.15 Mn |
| Dec 31, 2022 | 7.81 Mn |
| Sep 30, 2022 | 9.73 Mn |
| Jun 30, 2022 | 10.06 Mn |
| Mar 31, 2022 | 10.25 Mn |
| Dec 31, 2021 | 10.41 Mn |
| Sep 30, 2021 | 9.25 Mn |
API Access
Vireo Growth Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=VREOF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VREOF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=VREOF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();