Monitor Vireo's stock price (VREOF) as it directly determines the value of the merger consideration for Planet 13 shareholders. The earnings beat may provide near-term support for Vireo shares, but the deal remains subject to regulatory and shareholder approvals.
Price Chart
Executive Summary
Vireo Growth Inc. reported Q2 2026 revenue of $209.3M (+335% YoY) and Adjusted EBITDA of $41.5M, driven by recent M&A. The filing also reiterates the pending all-stock merger with Planet 13, which will create the largest U.S. cannabis operator by dispensary count. For Planet 13 shareholders, Vireo's strong financial performance supports the deal's value proposition.
Key Financial Metrics
Key Facts
- Vireo Q2 GAAP revenue $209.3M, up 335% YoY from $48.1M
- Vireo Q2 Adjusted EBITDA $41.5M vs $13.3M YoY
- Vireo closed Q2 with $122.7M cash
- Planet 13 merger announced post-quarter: all-stock, 0.015383618 Vireo shares per PLNH share
- Vireo expects to become largest U.S. cannabis operator by dispensary count with ~270 dispensaries
Financial Impact
Vireo's Q2 revenue of $209.3M and Adjusted EBITDA of $41.5M demonstrate strong operational scale, supporting the combined entity's financial profile post-merger.
Risk Factors
- Regulatory approvals for the merger may be delayed or denied
- Integration risks from Vireo's multiple concurrent acquisitions
- Cannabis industry regulatory uncertainty at federal level
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-093727 |
| Document: vreof-20251112x425.htm | 0001104659-26-093727 |
| Document: 0001104659-26-093727-index-headers.html | 0001104659-26-093727 |
| Document: 0001104659-26-093727-index.html | 0001104659-26-093727 |
| Document: 0001104659-26-093727.txt | 0001104659-26-093727 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | 425 | $0.1300 $0.1300 | · 0.00% | ▲ +0.12% | $0.1139 (−12.38%) |
Aug 25, 2026 5w ago | 425 | $0.1330 $0.1320 | ▼ −0.75% | ▼ −0.21% | $0.1139 (−14.36%) |
Aug 11, 2026 7w ago | 425 | $0.1220 $0.1470 | ▲ +20.49% | ▲ +20.90% | $0.1139 (−6.64%) |
Aug 11, 2026 7w ago | 425 | $0.1220 $0.1470 | ▲ +20.49% | ▲ +20.90% | $0.1139 (−6.64%) |
Jul 27, 2026 9w ago | 425 | $0.1200 $0.1155 | ▼ −3.75% | ▼ −6.26% | $0.1139 (−5.08%) |
Jul 27, 2026 9w ago | 425 / 8-K | $0.1200 $0.1155 | ▼ −3.75% | ▼ −6.26% | $0.1139 (−5.08%) |
May 15, 2026 20w ago | 8-K | $0.1410 $0.1580 | ▲ +12.06% | ▲ +10.44% | $0.1139 (−19.22%) |
May 13, 2026 20w ago | 8-K | $0.1380 $0.1350 | ▲ +2.17% | ▲ +1.46% | $0.1139 (+17.46%) |
US Market Status
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