SNDL Inc. reported net revenue of $204.9 million for the three months ended March 31, 2025 (Q1 2025), gross profit of $56.6 million, and a net loss of $14.7 million.
The company’s net revenue was up 3.6% compared to the same quarter last year, primarily due to a 16.8% increase in its cannabis business. Gross profit was up 12.4% compared to Q1 2024, while net loss increased 215.9% from a $4.7 million loss in the same quarter in the previous year.
SNDL also collected $28 million in outstanding debt from FIKA Company pertaining to loans previously extended to Delta 9 Cannabis Inc. on July 5, 2024, inclusive of an interest premium settlement.
SNDL Inc.’s net revenue for the Q4 2024 was $257.7 million, while gross profits were $68.8 million, with an operating loss of $76.1 million.
The majority of SNDL’s net revenue came from alcohol sales ($109.5 million), compared to $95.4 million in combined cannabis revenue from $77.5 million in net revenue from the company’s cannabis retail operations and $34.3 million from its cannabis production facilities, minus what SNDL lists as “intersegment elimination” of $16.4 million.
SNDL reported $5.2 million in operating income from its retail cannabis operations and a net loss of $486,000 from its cannabis production facilities, up from a $1 million loss from operating income from its retail cannabis stores in Q1 2024 and $891,000 in net income from its cannabis production facilities.
Of the $34.3 million net revenue from SNDL’s cannabis production facilities, the cost of sales was $25.1 million, with gross profit of $9.2 million and a net loss of $486,000. This compares to $22.4 million for the three months ended March 31, 2024. SNDL states that the $11.9 million increase was mainly due to the impact of sales from the acquisition of Indiva and increased wholesale sales.
SNDL’s operations cultivate cannabis using approximately 380,000 square feet of total space in Atholville, New Brunswick. SNDL’s extraction and manufacturing operations include approximately 84,506 square feet of total space in British Columbia and approximately 65,500 square feet of total space in Ontario.
Following the close of the quarter, on April 9, 2025, the Company announced that it had entered into an arrangement agreement with 1 cm Inc., pursuant to which it would acquire 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis banners in Ontario, Alberta, and Saskatchewan.
SNDL also purchased 5.7% of High Tide, the company behind the largest brand of cannabis stores in Canada, Canna Cabana, on March 10, 2025.
SNDL Inc. reported net revenue of $204.9 million for the three months ended March 31, 2025 (Q1 2025), gross profit of $56.6 million, and a… Read More
