{"url_path":"/sec/vreof/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1771706/0001104659-26-059455-index.html","accession_number":"0001104659-26-059455","cik":"0001771706","ticker":"VREOF","issuer_name":"Vireo Growth Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1771706/0001104659-26-059455-index.html","primary_entity_key":"0001771706","primary_entity_name":"Vireo Growth Inc."},"word_count":700,"has_tables":true,"body_markdown":"VIREO GROWTH INC._March 31, 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of Contents](#TOC)\n\n​\n\n​\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\n​\n\n☑\n\n  ​ ​\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n​\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n​\n\n☐\n\n  ​ ​\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n​\n\nFor the transition period from                      to                     \n\nCommission File Number: 000-56225\n\nVIREO GROWTH INC.\n\n(Exact name of registrant as specified in its charter)\n\n​\n\n​\n\n​\n\n​\n\nBritish Columbia, Canada\n\n  ​ ​ ​\n\n82-3835655\n\n(State or other jurisdiction of\nincorporation or organization)\n\n​\n\n(I.R.S. Employer\nIdentification No.)\n\n​\n\n​\n\n​\n\n207 South 9th Street, Minneapolis, MN\n\n​\n\n55402\n\n(Address of principal executive offices)\n\n​\n\n(Zip Code)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n(612) 999-1606\n\n​\n\n​\n\n(Registrant’s telephone number, including area code)\n\n​\n\n​\n\n                                     N/A                               \n\n(Former name, former address and former fiscal year, if changed since last report)\n\n​\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nTitle of each class\n\n  ​ ​ ​\n\nTrading Symbol(s)\n\n  ​ ​ ​\n\nName of each exchange on which registered\n\nNone\n\n​\n\nNone\n\n​\n\nNone\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes  þ    No  ◻\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).   Yes  þ    No   ◻\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\nLarge accelerated filer\n\n◻\n\n  ​ ​ ​\n\nAccelerated filer\n\n◻\n\nNon-accelerated filer\n\nþ\n\n​\n\nSmaller reporting company\n\nþ\n\n​\n\n​\n\n​\n\nEmerging growth company\n\nþ\n\n​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes  ◻    No  þ\n\n​\n\nAs of May 11, 2026, the registrant had the following number of shares of each of its classes of registered securities outstanding: Subordinate Voting Shares –1,360,581,362; Multiple Voting Shares –232,490; and Super Voting Shares – 0.\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\n**VIREO GROWTH INC.**\n\n**TABLE OF CONTENTS**\n\n[**PART I - FINANCIAL INFORMATION**](#PARTIFINANCIALINFORMATION_317852)\n\n3\n\n[ITEM 1 – FINANCIAL STATEMENTS](#Item1FinancialStatements_475852)\n\n3\n\n[Condensed Interim Consolidated Balance Sheets – March 31, 2026 (unaudited) and December 31, 2025](#CondensedConsolidatedBalanceSheets_92136)\n\n3\n\n[Condensed Interim Consolidated Statements of Net Loss and Comprehensive Loss – Three Months Ended March 31, 2026 and 2025 (unaudited)](#ConsolidatedStatementOfNetLoss)\n\n4\n\n[Condensed Interim Statements of Changes in Stockholders’ Equity (Deficiency) - Three Months Ended March 31, 2026 and 2025 (unaudited)](#CondensedConsolidatedStatementsofShareho)\n\n5\n\n[Condensed Interim Consolidated Statements of Cash Flows - Three Months Ended March 31, 2026 and 2025 (unaudited)](#CondensedConsolidatedStatementsofCashFlo)\n\n6\n\n[Notes to Unaudited Consolidated Financial Statements](#a1DescriptionofBusinessandSummary_634670)\n\n7\n\n[ITEM 2 - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#Item2ManagementsDiscussionandAnalysisofF)\n\n33\n\n[ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](#_Item_3._Quantitative)\n\n41\n\n[ITEM 4 - CONTROLS AND PROCEDURES](#Item4ControlsandProcedures_327182)\n\n41\n\n[**PART II – OTHER INFORMATION**](#PARTIIOTHERINFORMATION_31296)\n\n41\n\n[ITEM 1 - LEGAL PROCEEDINGS](#Item1LegalProceedings_620752)\n\n41\n\n[ITEM 1A – RISK FACTORS](#Item1ARiskFactors)\n\n41\n\n[ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](#Item2UnregisteredSalesofEquitySecurities)\n\n41\n\n[ITEM 5 - OTHER INFORMATION](#Item_5_OtherInformation)\n\n42\n\n[ITEM 6 - EXHIBITS](#Item6Exhibits_110033)\n\n42\n\n[SIGNATURES](#SIGNATURES_671154)\n\n43\n\n​\n\n​\n\n2\n\n[Table of Contents](#TOC)\n\nPART I - FINANCIAL INFORMATION"}