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SNDL Q2 Revenue Drops 1.6% YoY Due To Liquor Segment, Cannabis Operations Still Strong, Gross Margin Hits All-Time Record

Benzinga ·  Aug 2 20:51

Cannabis companySNDL Inc.(NASDAQ:SNDL) reportedits financial andoperational results Thursday for the second quarter ended June 30, 2024,reporting revenue of CA$228.1 million($164.35 million),down by 1.6% from CA$231.9 million in the second quarter of 2023.

Year-over-year quarterly decrease was driven by market softness in the liquor retail segment, noted the Alberta-based company, while cannabis retail and operations had strong growth. Sequentially, net revenue grew 15.4%.

"The second quarter of 2024 confirms our progress and path to profitability, including an all-time record gross margin of 25.5%", statedZach George, CEO of SNDL. "As we continue making progress on our long...

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