SNDL Inc. (SNDL) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to SNDL's fourth quarter 2025 financial results conference call. This morning, SNDL issued a press release announcing their financial results for the fourth quarter of 2025 ended on December 31st, 2025. This press release is available on the company's website at SNDL.com and filed on EDGAR and CDAR as well. The webcast replay of the conference call will also be available on the SNDL.com website. SNDL has also posted a supplemental investor presentation. In addition to the conference call presentation, we will be reviewing today on its SNDL.com website. Presenting on this morning's call, we have Zach George, Chief Executive Officer, and Alberto Peredero, Chief Financial Officer. Before we start, I would like to remind investors that certain matters discussed in today's conference call or answers that may be given to questions could constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect results are detailed in the company's financial reports and other filings that are made available on CDER and EDGAR. Additionally, all financial figures mentioned are in Canadian dollars unless otherwise indicated. We will now make prepared remarks and then we'll move on to analyst questions. I would now like to turn the call over to Zach George. Please go ahead. Welcome to S&DL's Q4 and full year 2025 financial and operational results conference call. 2025 marked another step forward in our performance with multiple new records achieved throughout the year, including record full year net revenue, gross profit, adjusted operating income, and free cash flow. Beginning with free cash flow, our most important KPI for assessing financial health We are pleased to report that following our f...