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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss attributable to Verano Holdings Corp. and Subsidiaries $ (257,908) $ (341,859) $ (117,348)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 124,155 139,664 141,133
Right-of-use assets amortization 11,994 11,199 10,493
Loss on disposal of property, plant and equipment 1,950 1,095 1,123
Gain on deconsolidation (4,739) 0 0
(Gain) Loss on debt extinguishment (1,938) 3,068 663
Loss on impairment of intangibles - goodwill 86,591 8,179 37,931
Loss on Impairment of Intangibles, Fixed Assets & Held For Sale Assets 96,677 319,520 13,686
Loss on impairment of investment in associates 0 0 6,571
Decrease in fair value of contingent consideration 0 0 (3,466)
Stock-based compensation 11,506 16,946 13,230
Other, net 18,755 15,671 5,888
Changes in assets and liabilities:      
Accounts receivable, net 5,355 (2,746) (22,675)
Inventory (46,763) (15,890) 23,887
Income tax receivable (6,842) 5,144 0
Accounts payable 5,374 (4,182) (8,881)
Income tax payable (51,784) (195,133) (4,431)
Uncertain tax positions 107,682 267,606 0
Deferred income taxes (37,456) (108,514) (14,258)
Other assets, net (4,276) 9,379 7,120
Other liabilities, net (5,478) (16,952) 19,044
NET CASH PROVIDED BY OPERATING ACTIVITIES 52,855 112,195 109,710
CASH FLOW FROM INVESTING ACTIVITIES      
Acquisition of business, net of cash acquired 0 (35,875) 0
Purchases of property, plant and equipment (41,226) (99,048) (36,330)
Proceeds from disposal of assets 354 64 2,180
Proceeds from deconsolidation 9,071 0 0
Other investing activities (800) 1,608 0
NET CASH USED IN INVESTING ACTIVITIES (32,601) (133,251) (34,150)
CASH FLOW FROM FINANCING ACTIVITIES      
Payment of deferred acquisition price payable (708) (32) (13,250)
Proceeds from issuance of debt 62,000 0 79,088
Principal repayments of debt (77,925) (63,402) (49,868)
Debt issuance costs paid (2,665) 0 (1,616)
Payment of debt extinguishment 0 (1,000) 0
Distributions paid to non-controlling interest holders (4,672) 0 0
Other financing activities (1,351) (1,492) 0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (25,321) (65,926) 14,354
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (5,067) (86,982) 89,914
Effects of exchange rate fluctuations on cash and cash equivalents (5) 18 (5)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 87,796 174,760 84,851
CASH AND CASH EQUIVALENTS, END OF PERIOD 82,724 87,796 174,760
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid, net 48,216 52,565 59,200
Cash paid for taxes 78,188 81,535 166,634
Issuance of shares to relieve liability obligations, net 0 2,730 2,610
NONCASH INVESTING AND FINANCING ACTIVITIES      
Debt extinguishment in connection with deconsolidation 1,146 0 0
Accrued capital expenditures 8,075 20,507 4,916
Issuance of debt for acquisition of business 0 25,776 0
Issuance of shares under business combinations 0 34,453 0
Acquisitions      
Tangible and intangible assets acquired, net of cash 644 83,685 227
Liabilities (2,014) (12,422)  
Liabilities     1,522
Acquisition consideration payable 0 (58,506) 11,367
Goodwill 1,370 23,118 134
Total $ 0 $ 35,875 $ 13,250