Sundial Growers Posts $25.3M In Q3 Net Revenue

Comments
Loading...

Sundial Growers Inc. SNDL posted net revenue of CA$33.5 million ($25.3 million) in the third quarter, the cananbis company said Wednesday. 

Sundial's harvest has grown from 1,896 kilograms in the first quarter to 11,700 kg in the third, according to the Calgary, Canada-based company. 

The average selling price per gram for Sundial's branded cannabis products was CA$6.34 in the third quarter. 

The company's net loss amounted to CA$97.5 million. The consolidated adjusted EBITDA loss was CA$7.9 million. 

"The increasing scale of our Canadian and new U.K. operations enabled us to significantly grow production and sales this quarter," CEO Torsten Kuenzlen said in a statement. 

"We step-changed production quantities while improving quality and growing a much larger variety of desirable premium cannabis strains. At the same time, we advanced operationally for effectiveness and efficiency and carefully managed our inventory levels. Production expansion went hand-in-hand with geographic expansion, as we increased coverage to additional Provincial boards and stores across Canada."

The stock was down 8.45% at $3.30 at the time of publication Thursday. 

Related Links: 

Female-Focused Cannabis Wellness Co. Kikoko Raises $8M In Series A Funding

Canopy Growth Analysts Parse Q2 Print As Investors Retreat

Photo courtesy of Sundial Growers. 

Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.