Verano, Green Thumb & MariMed’s Strong Q2: Unpacking The Cannabis Earnings Surge
In a recent series of equity research reports, Pablo Zuanic of Zuanic & Associates provided a detailed analysis of the Q2 2024 performance for three major players in the cannabis industry: Verano Holdings (OTCQX:VRNOF), Green Thumb Industries (OTCQX:GTBIF) and MariMed Inc. (OTCQX:MRMD).
Verano Holdings: Strategic Acquisitions And Stable Growth
Verano Holdings achieved a 6% quarter-over-quarter revenue increase, reaching $233 million. The company partly attributes this growth to its ongoing expansion in key markets, including recent agreements to acquire operations in Virginia and Arizona from The Cannabist Company. Zuanic highlighted that these acquisitions, expected to close in 2025, will further strengthen Verano’s market position.
The report highlighted that Verano’s adjusted EBITDA margin slightly improved from 35.6% in Q1 2024 to 36.2% in Q2, driven by cost efficiencies and a favorable product mix. Despite these …