Verano Holdings Reports Q3 Revenue of $212 Million

The Chicago-based cannabis company saw revenue grow 5% year-over-year in the third quarter of 2026.

Updated on Oct. 29, 2026 in Corporate Finance

Isometric editorial illustration showing a minimalist, modern glass storefront architectural facade in muted teal and oxblood tones. — Verano Holdings Corporation reported $212 million in revenue for the third quarter of 2026, representing a 5% increase year-over-year. AI Illustration. Upload story photo >

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Verano Holdings Corporation announced $212 million in revenue for the third quarter ending September 30, 2026. This figure marks a 5% increase compared to the same period in 2025.

Why it matters

The report provides insight into the company's financial performance as it manages a portfolio of 163 dispensaries across 13 states. Verano continues to balance operational expansion, including a $4 million net loss, against strategic growth in new markets and product categories.

Verano reported $50 million in adjusted EBITDA and $49 million in net cash from operations. The company held $102 million in cash and cash equivalents while carrying $390 million in total debt as of September 30, 2026.

The players

Verano Holdings Corporation

This Chicago-based company is a multi-state operator in the cannabis industry that manages dispensaries and production facilities across the United States.

The details

Verano expanded its retail footprint with the opening of a MÜV dispensary in Florida and entered the cannabis beverage market with its new brand, Easy Landings. The company also raised its 2026 capital expenditures guidance to a range of $54 million to $60 million.

September 30, 2025 served as the end of the prior year third quarter.
September 30, 2026 marked the end of the company's third quarter fiscal reporting period.
October 29, 2026 was the date the company released its third quarter financial results.
October 30, 2026 featured the opening of the Zen Leaf Ephrata dispensary in Pennsylvania.

Market Landscape

Verano is scaling its operations to compete in the highly fragmented U.S. cannabis market. The company continues to navigate the complexities of state-by-state regulation while positioning itself to capitalize on the ongoing expansion of state-legal cannabis markets.

Consumers can expect potential changes in product availability as Verano introduces new categories like cannabis beverages. The company's expansion into new states like Virginia may eventually offer local customers more retail access to legal cannabis products.

The takeaway

Verano is prioritizing capital expenditure to drive long-term growth despite current net losses. Investors and customers should monitor the company's progress in launching adult-use sales in Virginia as a key indicator of future revenue potential.