Verano Holdings (VRNO) EBITDA (2021 - 2026)
Verano Holdings (VRNO) posted quarterly EBITDA of $13.1 million for Q1 2026, down 12.68% year-over-year from $15.0 million in Q1 2025, and up 108.31% quarter-over-quarter from -$157.6 million in Q4 2025.
Verano Holdings (VRNO) EBITDA (2021 - 2026) Analysis & Trends
Verano Holdings (VRNO) has reported EBITDA for 6 consecutive years, with $13.1 million the latest figure, recorded in Q1 2026.
- In Q1 2026, EBITDA fell 12.68% year-over-year to $13.1 million; the TTM figure through Mar 2026 stood at -$109.0 million (up 55.48% YoY), while the FY2025 annual figure was -$107.1 million, up 54.85% from the prior year.
- EBITDA advanced to $13.1 million in Q1 2026 per VRNO's latest filing, from -$157.6 million in the prior quarter.
- Across five years, EBITDA topped out at $40.3 million in Q3 2023 and bottomed at -$303.9 million in Q4 2024.
- Historically, EBITDA has averaged -$24.5 million across 5 years, with a median of $15.0 million in 2025.
- Annual changes were most pronounced in 2023 — EBITDA jumped 1962.39% — and 2024, when it plunged 1441.77%.
- Verano Holdings' EBITDA stood at -$207.0 million in 2022, then jumped by 90.48% to -$19.7 million in 2023, then slumped by 1441.77% to -$303.9 million in 2024, then soared by 48.14% to -$157.6 million in 2025, then surged by 108.31% to $13.1 million in 2026.
- Business Quant data shows VRNO's EBITDA at $13.1 million in Q1 2026, -$157.6 million in Q4 2025, and $9.3 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.65 Bn | 42.68 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.09 Bn | 39.44 Bn | 2.15 Bn | -231.00 Mn |
| 3 | Zoetis | 31.54 Bn | 29.86 Bn | 1.05 Bn | 837.00 Mn |
| 4 | Takeda Pharmaceutical | 28.61 Bn | 22.81 Bn | 5.10 Bn | 1.26 Bn |
| 5 | United Therapeutics | 22.11 Bn | 19.45 Bn | 683.80 Mn | 330.80 Mn |
| 6 | Viatris | 18.77 Bn | 17.88 Bn | 1.46 Bn | 6.30 Mn |
| 7 | Neurocrine Biosciences | 15.62 Bn | 15.23 Bn | 935.80 Mn | 151.50 Mn |
| 8 | Elanco Animal Health | 12.07 Bn | 11.54 Bn | 798.00 Mn | 248.00 Mn |
| 9 | Dr Reddys Laboratories | 10.09 Bn | 9.93 Bn | - | - |
| 10 | Verano Holdings | 445.39 Mn | 360.20 Mn | 99.70 Mn | 3.14 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.14 Mn |
| Mar 31, 2026 | 13.10 Mn |
| Dec 31, 2025 | -157.58 Mn |
| Sep 30, 2025 | 9.28 Mn |
| Jun 30, 2025 | 26.21 Mn |
| Mar 31, 2025 | 15.00 Mn |
| Dec 31, 2024 | -303.88 Mn |
| Sep 30, 2024 | 16.77 Mn |
| Jun 30, 2024 | 27.27 Mn |
| Mar 31, 2024 | 22.67 Mn |
| Dec 31, 2023 | -19.71 Mn |
| Sep 30, 2023 | 40.29 Mn |
| Jun 30, 2023 | 30.43 Mn |
| Mar 31, 2023 | 33.78 Mn |
| Dec 31, 2022 | -206.98 Mn |
| Sep 30, 2022 | 37.08 Mn |
| Jun 30, 2022 | -2.29 Mn |
| Mar 31, 2022 | 1.64 Mn |
| Dec 31, 2021 | 29.43 Mn |
| Sep 30, 2021 | 23.01 Mn |