SNDL reports Q3 revenue C$236.9M vs. C$237.6M last year.

Operating loss was C$18.5M for the third quarter of 2024, driven by a negative valuation adjustment of equity-accounted investees (SunStream portfolio) of C$13.4M and restructuring charges of C$1.9M. This compares to a loss of C$16.4M in the third quarter of 2023, which included a favorable equity-accounted investees valuation adjustment of C$6.6M. Excluding the volatility of these non-cash valuation adjustments, we continue to see material improvements in profitability. “We are pleased with the substantial progress reflected in our results for the third quarter of 2024 as we advance towards sustainable profitability. Our team delivered a record gross margin, positive cash flow and free cash flow, and closed the quarter with over a quarter billion dollars in unrestricted cash and zero debt. We are materially improving our operational performance while executing multiple strategic initiatives that we believe will solidify our foundation and drive sustained, profitable growth,” said Zach George, Chief Executive Officer of SNDL (SNDL). “Our strong balance sheet serves as a beacon for future opportunities, allowing us to thoughtfully deploy capital into organic and inorganic investments with attractive, risk-adjusted returns. I am more confident than ever that our team – setting new records with each quarter – has the expertise and drive to unlock SNDL’s significant potential.”