SequelSEC

Vireo Growth Inc. VREOF

Pharmaceutical Preparations · CIK 0001771706 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$268.77M
Fiscal year ended 2025-12-31
Operating income
-$1.05M
Fiscal year ended 2025-12-31
Free cash flow
-$24.61M
Fiscal year ended 2025-12-31

Vireo Growth Inc. (VREOF) reported revenue of $268.77M and net income of -$68.11M for the fiscal year ended 2025-12-31. This page shows 6 annual periods of income statement, balance sheet and cash flow figures normalized from Vireo Growth Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.

Income

Vireo Growth Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Revenue$268.77M$99.38M$88.13M$74.63M$54.45M$49.21M
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailable$31.11M
Gross profit$127.10M$50.77M$44.10MUnavailableUnavailable$17.13M
Operating income-$1.05M$13.56M$10.58M-$6.94M-$20.48M-$23.04M
Net income-$68.11M-$28.01M-$25.55M-$42.46M-$33.69M-$22.94M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 734.74Mshares 180.39Mshares 135.24Mshares 128.13Mshares 123.81Mshares 97.55M
Pretax income-$39.91M-$16.89M-$17.82M-$36.56M-$29.57M-$14.15M
Income tax expense$28.23M$11.11M$7.72M$5.89M$4.12M$8.79M
Diluted EPS$-0.09$-0.16$-0.19$-0.33$-0.27$-0.24
Selling, general & administrative$81.19M$28.06M$28.22M$33.82M$33.66M$26.37M
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Vireo Growth Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Cash & equivalentsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total assets$817.20M$278.86M$183.26M$159.16M$166.97M$102.63M
Current assets$305.10M$230.37M$148.85M$46.73M$41.64M$47.04M
Total liabilities$509.80M$223.30M$199.31M$155.72M$123.96M$40.28M
Current liabilities$191.70M$135.47M$179.47M$29.71M$16.41M$19.94M
Total equity incl. NCI$307.40M$55.50M-$16.04M$3.44M$43.01M$62.35M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Inventory$60.00M$21.67M$19.29M$20.51M$20.42M$12.64M
Accounts receivable$12.70M$2.87M$2.26M$4.29M$4.50M$696.99K
Goodwill$87.50M$0$0$183.84K$183.84K$3.13M
Long-term debtUnavailableUnavailableUnavailable$46.25M$27.33M$1.11M
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

Vireo Growth Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Operating cash flow$3.71M-$10.23M-$965.91K-$18.07M-$30.52M-$10.93M
Capital expenditures$28.32M$11.69M$4.96M$5.56M$18.04M$8.45M
Investing cash flow$8.76M-$8.13M-$3.48M-$5.62M-$7.21M$12.94M
Financing cash flow$18.42M$94.01M$5.26M$23.68M$25.78M$15.87M
Net change in cashUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Stock-based compensation$18.66M$3.63M$4.16M$2.69M$5.18M$12.78M
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$16.11M$2.54M$2.87M$3.34M$3.03M$2.48M

Derived

Vireo Growth Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-31
Free cash flow-$24.61M-$21.93M-$5.93M-$23.63M-$48.56M-$19.38M
Gross margin47.3%51.1%50.0%41.4%36.4%34.8%
Operating margin-0.4%13.6%12.0%-9.3%-37.6%-46.8%
FCF margin-9.2%-22.1%-6.7%-31.7%-89.2%-39.4%
SBC / revenue6.9%3.7%4.7%3.6%9.5%26.0%
Current ratio1.59x1.70x0.83x1.57x2.54x2.36x
Revenue YoY growth170.4%12.8%18.1%37.1%10.6%Unavailable
Net margin-25.3%-28.2%-29.0%-56.9%-61.9%-46.6%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue10.5%11.8%5.6%7.5%33.1%17.2%
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailable0.02x
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open VREOF in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-14View SEC filing
10-Q · Filed 2026-05-12View SEC filing
10-K · Filed 2026-03-17View SEC filing
10-Q · Filed 2025-11-12View SEC filing
10-Q · Filed 2025-08-13View SEC filing
10-Q · Filed 2025-05-09View SEC filing

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Reconciliation checks needing review

2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

gross profit bridgeinconsistent2022-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2021-12-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.