Cannabis Co. Verano Posts Strong 2020 Financials, Expects To Close Accretive Acquisitions In 2021

Verano Holdings Corp. (CSE:VRNO) (OTCQX: VRNOF) reported Thursday its amounted to $355 million in fiscal 2020, representing a 196% year-over-year increase.

On an unadjusted basis and not including the impact of biological assets, gross profit was $224 million. It accounted for 63% of 2020 revenue, compared to a gross profit of $51 million, or 43% of revenue, in 2019.

Selling, general and administrative expenses for the full year were $85 million, compared to $56 million in the year before, or 24% and 46% of revenue, respectively.

The Chicago-based company posted a net income of $245 million in …

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