Verano Holdings (VRNO) Gross Margin (2021 - 2026)
Verano Holdings (VRNO) posted quarterly 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 reported Gross Margin for 6 consecutive years, with 47.54% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 8.0% year-over-year to 47.54%; the TTM figure through Mar 2026 stood at 50.36% (up 71.0% YoY), while the FY2025 annual figure was 50.33%, down 19.0% from the prior year.
- Gross Margin slipped to 47.54% in Q1 2026 per VRNO's latest filing, from 51.16% in the prior quarter.
- Across five years, Gross Margin topped out at 13227.17% in Q1 2024 and bottomed at 43.87% in Q2 2022.
- Historically, Gross Margin has averaged 824.82% across 5 years, with a median of 49.28% in 2024.
- Annual changes were most pronounced in 2024 — Gross Margin surged 1317908 bps — and 2025, when it sank 1317970 bps.
- Verano Holdings' Gross Margin stood at 45.74% in 2022, then advanced by 8 bps to 49.59% in 2023, then declined by 1 bps to 49.28% in 2024, then gained by 4 bps to 51.16% in 2025, then decreased 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 | Haleon | 43.89 Bn | 42.93 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.01 Bn | 39.35 Bn | 2.15 Bn | 51.98% |
| 3 | Zoetis | 31.52 Bn | 29.84 Bn | 1.05 Bn | 42.63% |
| 4 | Takeda Pharmaceutical | 28.61 Bn | 22.81 Bn | 5.10 Bn | 66.66% |
| 5 | United Therapeutics | 22.17 Bn | 19.51 Bn | 683.80 Mn | 87.30% |
| 6 | Viatris | 18.73 Bn | 17.85 Bn | 1.46 Bn | 38.77% |
| 7 | Neurocrine Biosciences | 15.51 Bn | 15.12 Bn | 935.80 Mn | 97.58% |
| 8 | Elanco Animal Health | 11.75 Bn | 11.22 Bn | 798.00 Mn | 58.33% |
| 9 | Dr Reddys Laboratories | 10.12 Bn | 9.96 Bn | - | - |
| 10 | Verano Holdings | 438.82 Mn | 353.62 Mn | 99.70 Mn | 45.75% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 45.75% |
| 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% |