Research analysts who have asked questions during SNDL earnings calls.
FG
Frederico Gomes
ATB Capital Markets
4 questions for SNDL
Also covers: AAWH, ACB, AYRWF +9 more
YK
Yewon Kang
Canaccord Genuity
3 questions for SNDL
Also covers: CRON, FFNTF, OGI +1 more
Aaron Grey
Alliance Global Partners
1 question for SNDL
Also covers: AFCG, AGFY, CGC +22 more
Pablo Zuanic
Zuanic & Associates
1 question for SNDL
Also covers: ACB, AFCG, CGC +14 more
Recent press releases and 8-K filings for SNDL.
SNDL completes acquisition of 5 retail cannabis stores from 1CM
SNDL
M&A
New Projects/Investments
- SNDL Inc. has completed the acquisition of 5 cannabis retail stores in Alberta and Saskatchewan from 1CM Inc..
- This transaction marks the first closing of an arrangement agreement, with a second closing for 27 additional cannabis retail stores in Ontario anticipated in the first half of 2026, subject to regulatory approvals.
Jan 7, 2026, 9:32 PM
SNDL Completes Acquisition of 5 Cannabis Retail Stores
SNDL
M&A
New Projects/Investments
- SNDL Inc. has completed the acquisition of 5 cannabis retail stores located in Alberta and Saskatchewan from 1CM Inc.
- This transaction represents the first closing pursuant to an amended and restated arrangement agreement dated December 15, 2025.
- The second and final closing is anticipated in the first half of 2026 for an additional 27 cannabis retail stores in Ontario, subject to obtaining required regulatory approvals.
Jan 7, 2026, 9:30 PM
SNDL and 1CM Announce Amended Arrangement Agreement
SNDL
M&A
New Projects/Investments
- SNDL and 1CM entered into an amended and restated arrangement agreement on December 15, 2025, for SNDL to acquire 32 cannabis retail stores for an aggregate purchase price of $32.2 million in cash, with SNDL having paid a $2.0 million non-refundable cash deposit.
- The transaction will now proceed in two stages: a First Closing for 5 stores in Alberta and Saskatchewan for $5.0 million (expected January 2026), and a Second Closing for the remaining 27 stores in Ontario for $27.2 million.
- The outside date for completing the transaction has been extended from December 31, 2025, to May 31, 2026.
- 1CM anticipates a return of capital to shareholders following the Second Closing.
Dec 15, 2025, 9:30 PM
SNDL Announces Renewal of Share Repurchase Program
SNDL
Share Buyback
- SNDL Inc. announced the renewal of its share repurchase program, which was approved by the Canadian Securities Exchange.
- The program authorizes the company to repurchase up to C$100 million of its outstanding common shares.
- A maximum of approximately 24.5 million shares can be repurchased under the program, representing 10% of the public float.
- The renewed Share Repurchase Program commences on November 21, 2025, and is set to expire on November 20, 2026.
- Under the prior share repurchase program, which completed on November 20, 2025, the company repurchased an aggregate of 9,478,671 shares.
Nov 21, 2025, 9:35 PM
SNDL Reports Q3 2025 Financial Results
SNDL
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- SNDL's Cannabis Operations net revenue increased by 50% year-over-year to $37.4 million in Q3 2025, primarily driven by the Indiva acquisition and increased international sales.
- The company achieved a record quarterly Free Cash Flow of +$17 million in Q3 2025, attributed to better working capital management and operational improvements.
- Cannabis Operations' Adjusted Operating Income for Q3 2025 was $(4.8) million, representing a 726% decrease year-over-year, largely impacted by inventory write-offs, valuation adjustments, and fixed asset impairments.
- SNDL also reported 3.6% Cannabis Retail Same Store Sales Growth and +2.9% Wine & Beyond Same Store Sales Growth in Q3 2025.
Nov 4, 2025, 3:00 PM
SNDL Reports Q3 2025 Financial Results
SNDL
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- SNDL reported record quarterly free cash flow of CAD 16.7 million and achieved positive cumulative free cash flow of CAD 7.7 million for the first nine months of 2025, marking a first in the company's history.
- Net revenue for Q3 2025 reached CAD 244 million, a 3.1% increase compared to the prior year, primarily driven by double-digit growth in the combined cannabis segment.
- The company recorded an operating loss of CAD 11 million, mainly due to CAD 11.9 million in non-cash items, including a CAD 6.8 million increase in share-based compensation liability triggered by a 121% share price increase during the quarter.
- Cannabis operations saw 50% revenue growth to CAD 37.4 million, boosted by edibles and CAD 4.2 million in international sales, while cannabis retail achieved 3.6% same-store sales growth.
Nov 4, 2025, 3:00 PM
SNDL Reports Third Quarter 2025 Financial and Operational Results
SNDL
Earnings
New Projects/Investments
Revenue Acceleration/Inflection
- SNDL reported net revenue of $244.2 million in the third quarter of 2025, reflecting a 3.1% growth compared to the same period in the previous year, primarily driven by 13.5% growth in its combined Cannabis business.
- The company achieved a record free cash flow of $16.7 million in Q3 2025, an 80.7% increase year-over-year, and for the first time, positive cumulative free cash flow for the first nine months of the year.
- As of September 30, 2025, SNDL maintained a strong balance sheet with $240.6 million in unrestricted cash and no debt.
- The operating loss for Q3 2025 was $(11.1) million, which was impacted by non-cash items including a $(6.8) million increase in share-based compensation liability and $(3.9) million in inventory-related adjustments.
- Strategic activities included an arrangement to acquire 32 cannabis retail stores from 1CM Inc. for $32.2 million and realizing a $5.3 million gain from the partial sale of its equity position in High Tide Inc. during the quarter.
Nov 4, 2025, 12:05 PM
SNDL Reports Third Quarter 2025 Financial Results
SNDL
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- SNDL reported net revenue of $244.2 million in the third quarter of 2025, representing a 3.1% growth year-over-year, primarily driven by a 13.5% increase in its combined Cannabis business.
- The company achieved a record free cash flow of $16.7 million in Q3 2025, marking the first time it has reached positive cumulative free cash flow for the first nine months of the year.
- SNDL reported an operating loss of $(11.1) million for Q3 2025, which was impacted by non-cash items including a $(6.8) million increase in share-based compensation liability and $(3.9) million in inventory-related adjustments.
- As of September 30, 2025, SNDL maintains a strong balance sheet with no debt and $240.6 million in unrestricted cash.
- Strategic activities during the quarter included the partial sale of its equity position in High Tide Inc., realizing a gain of $5.3 million, and continued progress on the acquisition of 32 cannabis retail stores from 1CM Inc. for $32.2 million.
Nov 4, 2025, 12:00 PM
SNDL Inc. Reports Q3 2025 Financial Results and Strategic Developments
SNDL
Earnings
M&A
Share Buyback
- SNDL Inc. reported a net loss of $(13.3) million for Q3 2025, an improvement from $(19.3) million in Q3 2024, with net revenue increasing 3% to $244.2 million.
- The company's free cash flow significantly increased by 81% to $16.7 million for Q3 2025, and it held $240.6 million in cash and cash equivalents as of September 30, 2025.
- SNDL is expanding its retail footprint through the acquisition of 32 cannabis retail stores from 1CM Inc. for $32.2 million cash, with closing expected in Q4 2025.
- The board approved the renewal of its share repurchase program, having already purchased and cancelled 5.8 million common shares for $15.0 million during the nine months ended September 30, 2025.
- SNDL's common shares commenced trading on the Canadian Securities Exchange (CSE) on April 11, 2025, offering additional flexibility and a Canadian market for transactions.
Nov 3, 2025, 11:10 PM
Quarterly earnings call transcripts for SNDL.
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