Verano Holdings (VRNO) Cost of Revenue (2021 - 2026)
Verano Holdings (VRNO) posted quarterly Cost of Revenue of $109.2 million for Q1 2026, down 0.93% year-over-year from $110.2 million in Q1 2025, and up 8.21% quarter-over-quarter from $100.9 million in Q4 2025.
Verano Holdings (VRNO) Cost of Revenue (2021 - 2026) Analysis & Trends
Verano Holdings (VRNO) has reported Cost of Revenue for 6 consecutive years, with $109.2 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue fell 0.93% year-over-year to $109.2 million; the TTM figure through Mar 2026 stood at $407.0 million (down 6.77% YoY), while the FY2025 annual figure was $408.0 million, down 6.13% from the prior year.
- Cost of Revenue rose to $109.2 million in Q1 2026 per VRNO's latest filing, from $100.9 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $125.5 million in Q2 2022 and bottomed at $1.1 million in Q1 2022.
- Historically, Cost of Revenue has averaged $104.1 million across 5 years, with a median of $108.3 million in 2024.
- Annual changes were most pronounced in 2023 — Cost of Revenue jumped 11104.85% — and 2025, when it declined 17.36%.
- Verano Holdings' Cost of Revenue stood at $122.6 million in 2022, then declined by 2.46% to $119.6 million in 2023, then fell by 7.45% to $110.7 million in 2024, then fell by 8.81% to $100.9 million in 2025, then advanced by 8.21% to $109.2 million in 2026.
- Business Quant data shows VRNO's Cost of Revenue at $109.2 million in Q1 2026, $100.9 million in Q4 2025, and $107.6 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.81 Bn | 42.84 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.29 Bn | 39.63 Bn | 2.15 Bn | 1.99 Bn |
| 3 | Zoetis | 31.59 Bn | 29.91 Bn | 1.05 Bn | 673.00 Mn |
| 4 | Takeda Pharmaceutical | 28.67 Bn | 22.88 Bn | 5.10 Bn | 2.55 Bn |
| 5 | United Therapeutics | 22.24 Bn | 19.58 Bn | 683.80 Mn | 99.50 Mn |
| 6 | Viatris | 18.79 Bn | 17.91 Bn | 1.46 Bn | 2.30 Bn |
| 7 | Neurocrine Biosciences | 15.71 Bn | 15.32 Bn | 935.80 Mn | 23.20 Mn |
| 8 | Elanco Animal Health | 12.09 Bn | 11.56 Bn | 798.00 Mn | 570.00 Mn |
| 9 | Dr Reddys Laboratories | 10.11 Bn | 9.95 Bn | - | - |
| 10 | Verano Holdings | 445.39 Mn | 360.20 Mn | 99.70 Mn | 118.22 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 118.22 Mn |
| Jun 30, 2026 | 118.22 Mn |
| Mar 31, 2026 | 109.20 Mn |
| Mar 31, 2026 | 109.20 Mn |
| Dec 31, 2025 | 100.92 Mn |
| Dec 31, 2025 | 100.92 Mn |
| Sep 30, 2025 | 107.57 Mn |
| Sep 30, 2025 | 107.57 Mn |
| Jun 30, 2025 | 89.29 Mn |
| Jun 30, 2025 | 89.29 Mn |
| Mar 31, 2025 | 110.23 Mn |
| Mar 31, 2025 | 110.23 Mn |
| Dec 31, 2024 | 110.67 Mn |
| Dec 31, 2024 | 110.67 Mn |
| Sep 30, 2024 | 107.59 Mn |
| Sep 30, 2024 | 107.59 Mn |
| Jun 30, 2024 | 108.05 Mn |
| Jun 30, 2024 | 108.05 Mn |
| Mar 31, 2024 | 108.35 Mn |
| Mar 31, 2024 | 108.35 Mn |