Verano Holdings Cannabis Co. Reports $199M In Q2 2021 Revenue Beating Estimates By $4.79M, Remains Profitable, Free Cash-Flow Positive

Cannabis company Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) reported Tuesday having generated $199 million in revenue during the second quarter of 2021, beating estimates by $4.79 million.

According to the Chicago-based company, that is a quarter-over-quarter improvement of 39% and a 164% spike from the corresponding quarter of 2020.

“This was a very strong quarter, particularly in topline revenue growth, which reflects our proven ability to execute in both the retail and wholesale verticals,” said George Archos, company CEO and founder.

Financial Highlights

  • Net income, including the impact of biological assets, amounted to $7 million.
  • Net income, excluding the impact of biological assets, totaled $32 million versus $8 million in the first three months of 2021.
  • On an unadjusted basis and excluding the impact of …

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