# Vireo Growth Inc. (VREOF) · Edgar & Edgarette company card

> Vireo Growth (VREOF) grew revenue 170% in FY2025 to $269 million, operating margin -0.4% against a -3.8% median for pharmaceutical preparations, equity 37.6% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1771706 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/VREOF) · [JSON](https://www.pops4.com/boards/company/VREOF.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $269M |
| Revenue growth, 1 year | 170.4% |
| Revenue growth per year | 49.1% |
| Operating margin | -0.4% (prior year 13.6%) |
| Net margin | -25.3% |
| Operating cash flow | $4M |
| Capital spending | $28M |
| Free cash flow | −$25M |
| Cash | $122M |
| Long-term debt | — |
| Total assets | $817M |
| Total equity | $307M |
| Equity ÷ assets | 37.6% |
| Return on equity | -22.2% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 0.34 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed auditor change in the last 12 months; operating loss: a margin of -0.4% in FY2025; free cash flow was negative: capital spending outran operating cash (-$24.6M in FY2025); revenue is hard to predict: its 80% range is ±45%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $268.8M (FY2025). Experience: revenue up 170.4% on the year, up 49.1% a year over 4 years; operating margin -0.4%, down from 13.6%. Soundness: equity 37.6% of assets, return on equity -22.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $346.0M and $912.3M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $270.7M to $1.2B. A statistical range, not company guidance. Against peers (114 filers, $50M+ revenue, pharmaceutical preparations): operating margin -0.4% against a -3.8% median; growth 170.4% against 13.7%.

Range logged 2026-09-27, receipt 3b450e87155b267f, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 4.01 Auditor change: 1, latest 2026-06-09 ([filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926071886/0001104659-26-071886-index.htm))
- Item 5.02 Director or officer change: 1, latest 2026-04-06 ([filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926039924/0001104659-26-039924-index.htm))

## Recent filings

- 8-K · filed 2026-11-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926124793/0001104659-26-124793-index.htm)
- 8-K · filed 2026-10-08 · 1.01 Entry into a Material Definitive Agreement; 1.02 Termination of a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926114701/0001104659-26-114701-index.htm)
- 8-K · filed 2026-08-26 · 2.01 Completion of Acquisition or Disposition of Assets; 3.02 Unregistered Sales of Equity Securities; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926101481/0001104659-26-101481-index.htm)
- 8-K · filed 2026-08-18 · 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926098337/0001104659-26-098337-index.htm)
- 10-Q · filed 2026-08-14 · [filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926097118/0001104659-26-097118-index.htm)
- 8-K · filed 2026-08-13 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 2.03 Creation of a Direct Financial Obligation; 3.02 Unregistered Sales of Equity Securities; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771706/000110465926095427/0001104659-26-095427-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001771706.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1771706

## Cite

POPS4, Edgar & Edgarette: Vireo Growth Inc. (VREOF) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/VREOF. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.