Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 215

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 215
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 the taxable income for the year, using tax rates enacted or substantively enacted at year-end. For the year ended December 31, 2024, Federal and State income tax expense totaled $5,185,802 compared to income tax expense of $3,024,340 for the year ended December 31, 2023. The increase in income tax expense is primarily attributable to increased gross profit. Non-GAAP Measures EBITDA is a non-GAAP measure that does not have a standardized definition under GAAP. The following information provides reconciliations of the supplemental non-GAAP financial measure EBITDA presented herein to the most directly comparable financial measures calculated and presented in accordance with GAAP. We have provided these non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. These supplemental non-GAAP financial measures are presented because management has evaluated the financial results both including and excluding the adjusted items and believes that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. This supplemental non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented.

|                                                  |     | Years Ended December 31, |     |            |
|                                                  |     |                     2024 |     |       2023 |
| Net income (loss)                                |     |               $5,025,784 |     |    $91,305 |
| Net loss attributable to noncontrolling interest |     |                  370,759 |     |          — |
| Interest expense, net                            |     |                1,729,713 |     | -2,131,626 |
| Income taxes                                     |     |                5,185,802 |     |  3,024,340 |
| Depreciation & Amortization                      |     |                1,634,395 |     |  1,489,623 |
| EBITDA (GAAP)                                    |     |               13,946,453 |     |  2,473,642 |
| Stock-based compensation                         |     |                  192,849 |     |     98,749 |
| Arches net loss included in consolidated results |     |                1,400,293 |     |