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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOW FROM OPERATING ACTIVITIES    
Net income (loss) attributable to Verano Holdings Corp. and Subsidiaries $ (4,822) $ (9,237)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 35,552 35,056
Right of use assets amortization 2,934 2,609
Non-cash interest expense 112 593
(Gain) Loss on disposal of property, plant and equipment 143 (67)
Loss on debt extinguishment 0 663
Unrealized (gain) loss on marketable securities (693) 256
Decrease in fair value of contingent consideration 0 (3,466)
Stock based compensation 3,928 544
Other, net 1,778 1,193
Changes in operating assets and liabilities:    
Accounts receivable (3,232) (1,670)
Inventory (9,998) 10,885
Accounts payable (4,031) (11,316)
Income tax payable 9,597 (5,018)
Other assets, net 10,065 1,023
Other liabilities, net (10,292) (5,186)
NET CASH PROVIDED BY OPERATING ACTIVITIES 31,041 16,862
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (9,699) (8,555)
Proceeds from disposal of assets 0 1,830
NET CASH USED IN INVESTING ACTIVITIES (9,699) (6,725)
CASH FLOW FROM FINANCING ACTIVITIES    
Acquisition of business, net of cash acquired (32) (500)
Proceeds from issuance of debt 0 23,710
Principal repayments of debt (2,150) (22,759)
Debt issuance costs paid 0 (309)
Other financing activities (136) 0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (2,318) 142
NET INCREASE IN CASH AND CASH EQUIVALENTS 19,024 10,279
Effects of exchange rate fluctuations on cash and cash equivalents 15 (1)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 174,760 84,851
CASH AND CASH EQUIVALENTS, END OF PERIOD 193,799 95,129
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid, net 15,002 15,313
Issuance of shares to relieve liability obligations, net $ 0 $ 3,653