VIREO GROWTH INC

Q2 FY2026 EarningsQ2 FY26 results significantly beat consensus expectations on the top line, with GAAP revenue of $209.3M exceeding the $167.4M estimate by 25.1%. Adjusted EBITDA of $41.5M was driven by aggressive M&A, including the Hawthorne and Eaze transactions. However, gross margin of 45.5% missed the 50.5% mean estimate due to the lower-margin profile of new non-cannabis agribusiness segments. Proforma revenue reached $254.9M, signaling significant forward scale as the company moves toward becoming one of the largest U.S. cannabis operators.