Earnings Update: Vireo, Rubicon, Flower, Planet 13, Driven Deliveries, Decibel, Pure Harvest Vireo Health Revenue Spikes, New Stores To Open By Q1 2021 Vireo Health International Inc. (CNSX: VREO) (OTCQX: VREOF ) revealed third-quarter revenue of $13.4 million. That's up by 68% year-over-year. The physician-led cannabis company generated revenue in seven states during the third quarter: New Mexico, Minnesota, Ohio, New York, Maryland, Pennsylvania and Arizona. Its quarterly adjusted EBITDA was a loss of $675,808, which stands against a loss of $5.2 million in the same quarter of the prior year. Net income hovered $122,252, compared to a net loss of $14.6 million in the corresponding period of 2019. Vireo attributes the boost to a gain of $16.4 million on the divestiture of the company’s PAMS subsidiary. "Our third-quarter results demonstrate the improving nature of our business and success of recent initiatives to improve operating and financial performance," chairman and CEO Kyle Kingsley says. "For the past several quarters, we've been focused on positioning our vertically-integrated portfolio of assets to produce sustained and profitable growth, and we believe today's results are an encouraging indicator that we're nearing a critical inflection point in cash flow generation from operations." Current development projects remain on time and budget, Kingsley added.