Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 213

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 213
---
 United States of America. Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 Revenue We derived our revenue from cultivating, processing, and distributing cannabis products through our one dispensary and wholesale sales in Utah. For the year ended December 31, 2024, 84% of revenue was generated from retail dispensaries and 16% from the wholesale business. For the year ended December 31, 2023, 90% of revenue was generated from retail dispensaries and 10% from the wholesale business. Revenue for the year ended December 31, 2024 was $47,500,989, an increase of $10,321,206 or 28% compared to revenue of $37,179,783 for the year ended December 31, 2023. The increase was primarily attributable to increased patient count in Utah, increased delivery sales, increased product offerings, and improved product quality. Retail revenue for the year ended December 31, 2024 was $39,937,299, an increase of $6,414,043 or 19% compared to retail revenue of $33,523,256 for the year ended December 31, 2023, primarily due to increased patient count in Utah, increased delivery sales, increased product offerings, and improved product quality. Wholesale revenue for the year ended December 31, 2024 was $7,563,690, an increase of $3,907,163 or 107% compared to wholesale revenue of $3,656,527 for the year ended December 31, 2023. The increase was primarily due increased patient count in Utah, increased delivery sales, increased product offerings, and improved product quality.

|                   |     |                Wholesome 
 Years Ended December 31, |     |             |     |  Change in |     |      |
|:------------------|:----|-------------------------:|:----|------------:|:----|-----------:|:----|:-----|
|                   |     |                     2024 |     |        2023 |     |          $ |     | %    |
| Retail revenue    |     |              $39,937,299 |     | $33,523,256 |     | $6,414,043 |     | 19%  |
| Wholesale revenue |     |                7,563,690 |     |   3,656,527 |     |  3,907