Vireo Growth Q1 revenue jumps on acquisitions


Overview

  • U.S. cannabis operator's Q1 revenue rose 334% yr/yr, driven by recent acquisitions

  • Adjusted EBITDA for Q1 climbed yr/yr as margins improved

  • Company closed Schwazze deal, completed Eaze and Hawthorne acquisitions after quarter end


Result Drivers

  • ACQUISITIONS - Co said Q1 revenue and profit growth were driven by recently closed M&A transactions, including Schwazze, Eaze, and Hawthorne

  • INTEGRATION FOCUS - Co said it is focused on integration and optimization across the platform following recent acquisitions

  • NON-CANNABIS DECLINE - Pro forma non-cannabis revenue fell 14% yr/yr


Company press release: ID:nGNX9fd1sp


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$106.20 mln

Q1 Gross Profit

$59.30 mln


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