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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Vireo Growth
Vireo Growth (VREO) investor relations material
Vireo Growth Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary11 Aug, 2026
Executive summary
Q2 2026 GAAP revenue reached $209.3M, up 335% year-over-year, driven by major M&A activity and a differentiated growth strategy in cannabis and agribusiness.
Closed and announced transformative acquisitions (Hawthorne, Eaze, Bridgewell, PharmaCann, FLUENT, C21, Planet 13, The Cannabist), expanding into new states and strengthening market position.
Pro forma revenue exceeded $1 billion annualized, positioning the company as one of the largest U.S. cannabis operators by dispensary count with ~270 locations.
Ended Q2 with $122.7M in cash, maintaining strong liquidity for continued acquisitions.
Financial highlights
Q2 GAAP revenue was $209.3M, up 335% year-over-year; cannabis segment revenue was $175.8M, up 265.5%; non-cannabis segment contributed $33.5M.
Pro forma Q2 revenue was $254.9M, not including pending acquisitions.
Adjusted EBITDA was $41.5M (19.8% margin), up 212% year-over-year.
Net loss narrowed to $0.1M from $14.9M a year ago.
Cash and cash equivalents at quarter-end: $122.7M; net debt (excluding convertible debt): $176.1M.
Outlook and guidance
Expects to operate approximately 270 dispensaries across 15 states upon completion of pending deals.
Targets building $100M+ revenue businesses in each core state and consistent same-store sales growth through optimization.
Focused on integrating acquisitions to drive further margin expansion and operating leverage.
Anticipates a clearer financial picture of the strategic vision by 2027.
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Latest events from Vireo Growth
- All proposals, including board elections and share consolidation, were approved by majority.VREO
AGM 2026 - Q1 2026 revenue up 333.5% year-over-year to $106.2M, fueled by acquisitions and segment growth.VREOQ1 2026
- Q4 revenue up 318% year-over-year to $104.5M, with strong M&A-driven growth and margins.VREOQ4 2025
- Q2 revenue up 91.4% year-over-year, fueled by mergers, refinancing, and multi-state expansion.VREOQ2 2025
- $397M all-stock acquisitions and $75M raise create a digital-first, multi-state cannabis leader.VREOM&A Announcement
- Q3 revenue up 6.2% year-over-year, with strong Maryland growth and $10M financing secured.VREOQ3 2024
- Q2 revenue up 42.5% year-over-year, gross margin 54%, Maryland retail up 182%.VREOQ2 2024
- Q1 revenue up 1.9% to $24.5M, margin gains, and Q2 mergers expected to boost profitability.VREOQ1 2025
- Record FY24 revenue, margin expansion, and strong cash set up a pivotal 2025.VREOQ4 2024
Next Vireo Growth earnings date
Q3 202611 Nov, 2026
Vireo Growth
Next Vireo Growth earnings date
Q3 202611 Nov, 2026
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Frequently asked questions
Vireo Growth Inc. is a U.S.-based cannabis company focused on the cultivation, manufacturing, processing, and distribution of medical and adult-use cannabis products. The company operates a network of retail dispensaries under the Green Goods brand, as well as other branded locations, primarily in Maryland and Minnesota. The company is headquartered in Minneapolis, Minnesota, and its shares are listed on the Canadian Securities Exchange.