SNDL reported strong third-quarter results, achieving record free cash flow and significant growth in its Cannabis business, despite a decline in the Liquor retail segment. The company maintained a strong balance sheet with no debt and substantial unrestricted cash.

SNDL Inc. delivered a strong performance in Q2 2025, with net revenue increasing by 7.3% year-over-year to $244.8 million, driven by significant growth in its Cannabis business and a return to growth in Liquor Retail. The company achieved positive operating income of $5.0 million and net earnings of $2.9 million, marking a pivotal milestone. Gross profit rose by 16.2% to $67.6 million, with gross margin improving to 27.6%.

SNDL's Q1 2025 results indicate a positive trend with a 3.6% increase in net revenue to $205 million and a significant 12.4% rise in gross profit to $56.6 million. The Cannabis segment was a key driver of revenue growth, consistently expanding over the past thirteen quarters, while the Liquor Retail segment experienced a slight decline.

SNDL delivered record net revenue and gross profit in Q4 2024, driven by strong growth in cannabis operations. Despite this, the company reported an operating loss primarily due to one-time valuation adjustments and impairments. Free cash flow was positive, and the company ended the quarter with a strong cash position.