Verano Holdings (VRNO) Gross Margin (2021 - 2026)
Verano Holdings (VRNO) reported Gross Margin of 47.54% for Q1 2026, up 8.0% year-over-year from 44.02% in Q1 2025, and down 7.06% quarter-over-quarter from 51.16% in Q4 2025.
Verano Holdings (VRNO) Gross Margin (2021 - 2026) Analysis & Trends
Verano Holdings (VRNO) has 6 years of Gross Margin data on file, last reported at 47.54% in Q1 2026.
- Gross Margin for Q1 2026 came in at 47.54%, up 8.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 50.36% (up 71.0% YoY), and the FY2025 annual result was 50.33%, down 19.0% from the prior year.
- Gross Margin declined to 47.54% in Q1 2026 per VRNO's latest filing, from 51.16% in the prior quarter.
- Over five years, Gross Margin peaked at 13227.17% in Q1 2024 and troughed at 43.87% in Q2 2022.
- A 5-year average of 824.82% and a median of 49.28% in 2024 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin surged 1317908 bps in 2024, then sank 1317970 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 45.74% in 2022, then gained by 8 bps to 49.59% in 2023, then dropped by 1 bps to 49.28% in 2024, then rose by 4 bps to 51.16% in 2025, then retreated by 7 bps to 47.54% in 2026.
- Business Quant data shows VRNO's Gross Margin at 47.54% in Q1 2026, 51.16% in Q4 2025, and 46.96% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Teva Pharmaceutical Industries | 39.72 Bn | 35.98 Bn | 1.97 Bn | 49.52% |
| 2 | Zoetis | 34.61 Bn | 32.67 Bn | 1.62 Bn | 71.66% |
| 3 | United Therapeutics | 24.07 Bn | 21.91 Bn | 648.10 Mn | 82.93% |
| 4 | Aurora Cannabis | 16.98 Bn | 16.91 Bn | 33.43 Mn | 49.50% |
| 5 | Neurocrine Biosciences | 16.64 Bn | 15.32 Bn | 800.70 Mn | 98.31% |
| 6 | Elanco Animal Health | 12.19 Bn | 11.76 Bn | 785.00 Mn | 57.26% |
| 7 | Alkermes | 7.37 Bn | 6.86 Bn | -116.06 Mn | -293.83% |
| 8 | Hims & Hers Health | 6.62 Bn | 5.87 Bn | 396.79 Mn | 65.25% |
| 9 | Lantheus Holdings | 6.47 Bn | 5.97 Bn | 230.92 Mn | 61.20% |
| 10 | Verano Holdings | - | - | 98.98 Mn | 47.54% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 47.54% |
| Dec 31, 2025 | 51.16% |
| Sep 30, 2025 | 46.96% |
| Jun 30, 2025 | 55.86% |
| Mar 31, 2025 | 47.46% |
| Dec 31, 2024 | 49.28% |
| Sep 30, 2024 | 50.35% |
| Jun 30, 2024 | 51.41% |
| Mar 31, 2024 | 13,227.17% |
| Dec 31, 2023 | 49.59% |
| Sep 30, 2023 | 55.49% |
| Jun 30, 2023 | 49.20% |
| Mar 31, 2023 | 48.09% |
| Dec 31, 2022 | 45.74% |
| Sep 30, 2022 | 54.04% |
| Jun 30, 2022 | 43.87% |
| Mar 31, 2022 | 48.76% |
| Dec 31, 2021 | 51.71% |
| Sep 30, 2021 | 47.56% |
| Jun 30, 2021 | 34.77% |