Press release
SNDL Reports Fourth Quarter and Full Year 2024 Financial and Operational Results
The Company reports Record Full Year Net Revenue, Gross Profit and Gross Margin, as well as positive Cash Flow and Free Cash Flow CALGARY, AB, March 18, 2025
About this update from Sndl Inc.
[{"type":"text","content":"The Company reports Record Full Year Net Revenue, Gross Profit and Gross Margin, as well as positive Cash Flow and Free Cash Flow \nCALGARY, AB, March 18, 2025 /PRNewswire/ - SNDL Inc. (NASDAQ: SNDL) (\"SNDL\" or the \"Company\") reported its financial and operational results for the full year and fourth quarter ended December 31, 2024. All financial information in this press release is reported in millions of Canadian dollars unless otherwise indicated.\n\n \n \n \n \n \n \n\n \nSNDL has also posted a supplemental investor presentation and shareholder letter on its website, found at https://sndl.com.\nThe Company will hold a conference call and webcast presentation at 10:00 a.m. EDT (8:00 a.m. MDT) on Tuesday, March 18, 2025. The conference call details can be found below.\nMANAGEMENT HIGHLIGHTS\nNet revenue for the fourth quarter of 2024 was $257.7 million, and $920.4 million for the full year of 2024, representing growth of +3.7% and +1.3%, respectively, when compared to the same periods of the previous year. Both the quarter and the full year represent new records for the corporation, driven by strong growth from our combined Cannabis business of +16.5% in the fourth quarter and +10.6% over the full year.Gross profit also reached new records, with $68.8 million in the fourth quarter of 2024, and $240.3 million for the full year, representing growth of +20.0% and +26.2%, respectively, when compared to the same periods of the previous year.Gross margin (1) of 26.7% in the fourth quarter of 2024 and 26.1% for the full year are also new records, representing improvements of +3.6 and +5.2 percentage points, respectively, when compared to the same periods of the previous year.Operating loss was $(76.1) million for the fourth quarter of 2024, driven by a negative valuation adjustment of the SunStream portfolio of $(65.7) million, a Spiritleaf intangible write-off of $(15.0) million, and restructuring charges of $(0.6) million. Excluding these exceptional items adding up to $(81.3) million, our underlying Operating Income would have been positive for the quarter. These exceptional items largely contributed to the full year reported Operating loss of $(103.8) million.Cash flow was negative by $(44.6) million in the fourth quarter of 2024, driven by the acquisition of Nova's minority equity interest, as well as the repurchase of SNDL'...