Vireo Growth Q2 Revenue Hits $209.3M, a 335% Surge; Pro Forma Tops $254.9M
VREOF sits 19% above its 52-week low of $8.91 on elevated volume (2.1× avg).
Summary
Vireo Growth posted Q2 2026 revenue of $209.3 million, a 335% year-over-year leap, with pro forma revenue of $254.9 million reflecting recent acquisitions. The company also unveiled a new $65 million credit facility.
Key Events · Earnings and Guidance · VREOF
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Q2 Revenue Surges 335%
GAAP revenue climbed to $209.3 million from $48.1 million a year ago, propelled by the acquisitions of Eaze, Hawthorne, and Bridgewell.
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Pro Forma Revenue of $254.9M
Pro forma revenue, which assumes Hawthorne, Bridgewell, and PharmaCann were acquired on April 1, 2026, came in at $254.9 million, underscoring the combined entity's scale.
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Adjusted EBITDA of $41.5M
Adjusted EBITDA rose 212% year-over-year to $41.5 million, though margins narrowed to 19.8% from 27.7% due to integration costs and a shift in mix.
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Strong Liquidity Position
Cash and restricted cash stood at $122.7 million at quarter-end, and a new $65 million asset-based revolving credit facility—expandable to $105 million—was announced.
Analysis · VREOF · Life Sciences
Explosive Q2 growth at Vireo Growth was fueled by an aggressive M&A playbook, sending GAAP revenue up 335% to $209.3 million. On a pro forma basis—treating recent acquisitions as if they closed at the quarter's start—the top line reached $254.9 million. Adjusted EBITDA landed at $41.5 million, and the company closed the period with $122.7 million in cash. A new $65 million credit facility further bolsters liquidity. While the results highlight the scale Vireo is assembling in the fragmented cannabis industry, integration risks and the dilutive effect of all-stock deals remain key watchpoints.
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In the 30 days to Oct 2, 2026, 29.6% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, VREOF was trading at $10.64 on OTC in the Life Sciences sector, with a market capitalization of approximately $524.7M. The 52-week trading range was $8.91 to $24.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.