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Friends,
Every quarter, I refresh the Cannabis Stock Index, which covers active cannabis shares. The index returns at the end of 2012 and developed as the cannabis industry developed. I will share the full update next week, when Q3 is over, but I want to discuss a change in the index on the upcoming re-elexatization, which was based on data on 09/23.
The last quarter, I refreshed that the figure would again have 23 members, which is a typical type of shares. What surprised me about changes was that the MSOS in the index went down 6 to only 3. It is possible that the removal of its low trade in June may have been more shocking. 3 MSOS presented only 13% of the index at 6/30.
This next quarter, the number of shares, which qualifies 28, four new or returning members, are given to MSOS. Returning the indicator will be CRESCO LABS, CURALAF, TERRASCEND and VERANO HOLDINGS. On 7/30, on 7/30, 25% of the 7s index will be presented. Although MSOS’s share has sharply increased, this is not a high percentage. At the end of April 2024, only only only MSOS was 38% of the index when there were 11 MSOS 29.
I have constantly discussed how cannabels and investors can extend their concentration beyond only one part of the cannabis, so “only 25%” do not stand out to me. It’s the same percentage of what Canadian LPS is holding and it is inferior to 39% of assistance. MSOS has a great drawback because they trade on OTC, but they also face 280e taxation, which is combined with the debt of the balance sheet sheet.
The Rebalanced index will include all 5 of the largest MSOS, plus two people. The most interesting thing for me is what will not include. Of course, the heart is no longer in the figure, but there are several msos that are not yet in it, despite their mass income. The one who stands out is Vireo’s growth, which is not described due to its trading volume, which has not increased enough.
The growth of Varo first started trading in early 2019. For some time, it was an increase of kindness, but last summer became a virus. Originally, it was a medical canpian company based in Minnesota and operates in New York before I expanded Maryland. The company had to be united with the review, but the deal was distinguished and remained in court. Bengal Bengal Capital Josh Rosen joined as an interim executive director in early 2023 and became General Director in the summer of 2024 before leaving for October. The current CEO of the company, John Mazarakis, who joined Chicago Atlantic, at the end of 2024 as a company announced a big plan Buy 4 single state operators and collect $ 75 million for one share for $ 0.625. Company actually raised $ 81 millionA number of this was quite impressive.
There have been some people who are discussing Vireo growth, including multiple jacket Aaron Edelheit in many articles, as well as Pablo Zuanic. The company has already closed most of the achievements announced in December and caused $ 48 million, completing the quarter for $ 106 million in cash. Still, it seems that a lot of analyst does not seem coverage. In the past month, the shares on average made a daily trading shares that are lower than $ 400k minimum required.
Perhaps more disappointing than the lack of interest in investors has been the price of prices. At the end of 2024, the shares are currently kept by 10.7% when the company announced that it sold $ 81 million worth $ 0.625. MSOS gathered by 22%, and Cannabis Global Index has purchased 4.9% as of 9/25. Since the company announced transactions, it doubled at prices by 22% with MSOS. While the return of a year in MSOS is a lot, the vodge has been a little advanced.
Of course, Varo’s growth has seen a lot over the past few years. In 2023, it took the low level of all time, but the shares were falling since August. Cannabis investors should consider it. Big capital raising is underwater, and the volume of trade is small compared to the size of its actions.
Commercial volumes have expanded, especially for MSOS, and Varo’s growth has been transformed into itself. Investors, however, seem to be not yet. I continue to control the company’s evolution, but still do not include it in my focus of 19 shares. I want the growth of Viro to the best and hope that the buyers of his shares are approaching the end of the year, now 20%, do not stay in the red.
Frankly,
Alan
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Vireo Growth Inc. Announces Fourth Quarter 2025 Results
Q4 GAAP revenue of $104.5 million was up 317.7% year-over-year, driven by recently closed M&A deals.
In Q4, same-store sales were up 22% year-over-year and wholesale revenue was up 55% year-over-year; Excluding Minnesota, same-store sales rose 11.3% year-over-year
Announced pending acquisitions of Eaze, Schwazze and PharmaCann retail assets in Colorado, as well as an MOU for the Hawthorne acquisition, all of which are expected to close in the first half of 2026.
The company closed the fourth quarter with $122.5 million in cash; expects to remain obtainable
MINNEAPOLIS, March 17, 2026 (GLOBE NEWSWIRE) — Vireo Growth Inc. (“Vireo” or the “Company”) (CSE: VREO; OTCQX: VREOF), today reported financial results for its fourth fiscal quarter ended December 31, 2025. Key financial results are presented below in summary form, with accompanying commentary and from management of certain key operating metrics that the Company uses to evaluate its performance. All currency figures shown here are in US dollars.
Management Commentary
Chief Executive Officer John Mazarakis commented: “Fourth quarter performance remained in line with our expectations and reflected same-store sales growth excluding Minnesota’s 11.3% increase and wholesale’s 55% increase in the year-ago quarter. As we begin the new year, we will continue to optimize all areas of our business while maintaining opportunities for further growth.
Recent developments
On December 16, 2025, the Company entered into an asset purchase agreement through a wholly-owned subsidiary to acquire certain assets and property used in a cannabis dispensary operating in the state of Colorado owned by PharmaCann Inc. (“PharmaCann”). Under the terms of the agreement, the Company expects to issue subordinated voting stock with an estimated value of $49,000,000 and assume certain liabilities in exchange for the assets acquired. Stock compensation is subject to certain adjustments.
On December 22, 2025, the Company entered into a merger agreement and plan to acquire Eaze Inc. (“Eaze”) in a business combination transaction. Pursuant to the agreement, following the closing of the transaction, the Company expects to issue subordinate voting shares as consideration for the issued and outstanding shares of Eaze. The estimated closing consideration is approximately $47,000,000, subject to customary post-closing adjustments. The merger agreement also provides for the payment of potential earnings payable in subordinated voting shares of the Company based on Eaze’s future financial performance, subject to contractual restrictions.
On January 15, 2026, the Company entered into a non-binding memorandum of understanding (“MOU”) with ScottsMiracle-Gro regarding the potential acquisition of The Hawthorne Gardening Company LLC (“Hawthorne”).
At the end of the fourth quarter, the Company completed the integration of its recent acquisitions from Deep Roots, Proper, and Wholesome, including streamlined accounting, finance, human resources, insurance and procurement operations, and the implementation of a new enterprise resource planning system across the organization. As a result, the Company has already implemented corporate synergies.
Balance sheet and liquidity
As of December 31, 2025, total current assets, excluding Medicine Man Technologies Inc. (dba Schwazze) (“Schwazze”) receivables, assets held for sale and income taxes receivable, were $204.1 million, including cash of $122.5 million. Total current liabilities, excluding uncertain tax liabilities, were $71.6 million. As of December 31, 2025, the Company had a total of 1,177,624,278 shares of subordinate voting stock outstanding on a treasury method basis at a par value of $0.60 per share.
Conference call and webcast information
Vireo’s management will hold a conference call with research analysts today, March 17, 2026 at 8:00 a.m. ET (7:00 a.m. CT) to discuss its financial results for the fourth quarter ended December 31, 2025. 1-646-307-1963 (Toll Free) (International) and the conference ID number is 9471311.
A live audio webcast of this event will also be available on the Events and Presentations section of the Company’s Investor Relations website and via the following link: https://events.q4inc.com/attendee/171708452.
About Vireo Growth Inc
Vireo was founded in 2014 as a leading medical cannabis company. Vireo is building a disciplined, strategically aligned and execution-focused platform in the industry. This strategy drives our intense local market focus while leveraging the strength of the national portfolio. We are committed to hiring industry leaders and deploying capital and talent where we believe it will deliver the most value. Vireo operates with a long-term mindset, an action bias, and an unwavering commitment to its customers, employees, shareholders, industry partners, and the communities it serves. For more information about Vireo, visit www.vireogrowth.com.
New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.
Michigan hemp sales for february decreased compared to a year ago, as they increased sequentially by 3.4%. Sales of $234.6 million decreased by 3.0% compared to last year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 38.6% year over year to $0.4 million, down 3.8% sequentially, and adult use sales down 3.0% year over year to $234.2 million, down 3.4% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For Adults – Use
Medical
As supply continues to expand, prices for adult flowers have plummeted. The average price of $945 a pound in January was up 1.3 percent sequentially from a record low in December and down 8.2 percent from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion In 2026, Michigan cannabis sales decreased by 5.7%.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
Verano Announces Fourth Quarter and Full Year 2025 Financial Results
The company delivered sequential revenue and margin improvement within guidance in the fourth quarter; closes 2025 with the top three market share positions1 in all competing categories
The newly announced $195 million credit facility demonstrates the Company’s ability to access lower cost capital and secure some of the industry’s most favorable terms, including maturity and prepayment flexibility and an initial interest rate of 9.5% per annum.
CHICAGO, March 12, 2026 (GLOBE NEWSWIRE) — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO) (“Verano” or the “Company”), a leading multinational cannabis company, today announced its financial results for the fourth quarter and full year ended December 31, 2025, prepared in accordance with US Generally Accepted Accounting Principles (“US GAAP”).
Financial highlights for the fourth quarter and full year of 2025
New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.
