SNDL (SNDL) financial statements

· Market cap $318M

SNDL reported revenue of 946M CAD in fiscal 2025, up 56.8% a year over 6 years.

Net income was -16M CAD.

Free cash flow was 58M CAD, and the company returned 15M CAD in net buybacks.

The diluted share count rose 4533367% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CAD).

-0.500.5120182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CAD, from SNDL's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Revenue—64M CAD61M CAD56M CAD712M CAD909M CAD920M CAD946M CAD
Cost of revenue—56M CAD———719M CAD680M CAD688M CAD
Gross profit—36M CAD-50M CAD-9M CAD140M CAD190M CAD240M CAD259M CAD
Research and development413,000 CAD2M CAD488,000 CAD2M CAD2M CAD324,000 CAD346,000 CAD489,000 CAD
Selling, general and admin3M CAD49M CAD32M CAD38M CAD140M CAD200M CAD187M CAD182M CAD
Operating income-13M CAD-52M CAD-185M CAD-134M CAD-348M CAD-163M CAD-104M CAD-6M CAD
Interest expense75,000 CAD14M CAD8M CAD40,000 CAD178,000 CAD81,000 CAD7M CAD7M CAD
Pre-tax income-13M CAD-146M CAD-206M CAD-235M CAD-380M CAD-172M CAD-106M CAD-16M CAD
Net income-13M CAD-271M CAD-233M CAD-227M CAD-335M CAD-173M CAD-95M CAD-16M CAD
EPS (diluted)————-1.46 CAD-0.67 CAD-0.36 CAD-0.06 CAD
Diluted shares0M0M0M0M230M259M264M258M
Gross margin—57.4%-81.9%-16.0%19.7%20.9%26.1%27.3%
Operating margin—-82.4%-304.4%-239.4%-48.8%-18.0%-11.3%-0.7%
Net margin—-427.1%-382.9%-404.4%-47.1%-19.0%-10.3%-1.7%

Balance sheet

Fiscal years, in CAD, from SNDL's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Cash and short-term investments8M CAD45M CAD60M CAD561M CAD286M CAD198M CAD246M CAD253M CAD
Inventory—60M CAD26M CAD30M CAD128M CAD129M CAD128M CAD127M CAD
Total current assets—173M CAD118M CAD728M CAD501M CAD407M CAD462M CAD450M CAD
Property, plant and equipment—282M CAD117M CAD56M CAD143M CAD153M CAD146M CAD152M CAD
Goodwill—11M CAD—72M CAD67M CAD119M CAD124M CAD124M CAD
Total assets—510M CAD295M CAD1.4B CAD1.6B CAD1.5B CAD1.3B CAD1.3B CAD
Total current liabilities—269M CAD24M CAD66M CAD89M CAD103M CAD91M CAD92M CAD
Total liabilities—289M CAD25M CAD98M CAD232M CAD244M CAD216M CAD235M CAD
Shareholders' equity14M CAD216M CAD272M CAD1.3B CAD1.3B CAD1.2B CAD1.1B CAD1.1B CAD
Net debt-8M CAD-45M CAD-60M CAD-558M CAD-280M CAD-195M CAD-218M CAD-252M CAD

Cash flow

Fiscal years, in CAD, from SNDL's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Operating cash flow-5M CAD-113M CAD-57M CAD-156M CAD-7M CAD-17M CAD55M CAD71M CAD
Capital spending8M CAD110M CAD3M CAD4M CAD11M CAD8M CAD11M CAD13M CAD
Free cash flow-13M CAD-223M CAD-61M CAD-160M CAD-18M CAD-25M CAD44M CAD58M CAD
Stock-based compensation5M CAD39M CAD9M CAD12M CAD10M CAD15M CAD20M CAD14M CAD
Share buybacks (net)——0 CAD0 CAD-13M CAD-2M CAD-13M CAD-15M CAD
Net borrowing—50M CAD-84M CAD0 CAD-10M CAD0 CAD——
Free cash flow margin—-350.8%-99.6%-284.3%-2.5%-2.7%4.8%6.1%
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Questions

What was SNDL's revenue in 2025?

946M CAD in fiscal 2025, from its 10-K filing.

How much free cash flow does SNDL generate?

58M CAD in fiscal 2025 (operating cash flow minus capital spending).

From SNDL's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.