SNDL
Runs cannabis products, retail, liquor retail, and strategic investments.
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Profile
Cannabis brands, retail stores, liquor stores, manufacturing, and strategic investments make up the operating platform. Growth has come through acquisitions, while direct consolidation of Parallel's U.S. assets remains subject to legal, regulatory, accounting, and Nasdaq requirements.
Cannabis operations span branded products, manufacturing, and a retail network built through the Spiritleaf, Valens, Nova, and Indiva transactions. Brands include Top Leaf, Contraband, Palmetto, and Bhang Chocolate.
Liquor retail adds a distinct consumer channel alongside cannabis retail, while the investments segment deploys strategic capital through direct and indirect investments and partnerships across the North American cannabis industry.
Acquisitions have expanded the platform beyond its earlier cultivation business. The Parallel asset transaction provides indirect majority economic exposure to operations in Florida, Texas, and Massachusetts, but direct consolidation depends on legal, regulatory, accounting, and Nasdaq requirements.
Company facts
Categories
Key statistics
Year to date −21.8% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Jul 28, 2026 | Industrial Alliance Securities | Target | $3.50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.00 | −$0.02 | — | $166.3M | $166.0M | −0.2% | −1.64% |
| Apr 29, 2026Q1 FY26 | −$0.03 | −$0.03 | 0.0% | $151.2M | $140.8M | −6.8% | +3.03% |
| Mar 12, 2026Q4 FY25 | $0.01 | $0.03 | +200.0% | $187.9M | $183.9M | −2.1% | −3.21% |
| Nov 4, 2025Q3 FY25 | $0.00 | −$0.04 | — | $258.0M | $175.1M | −32.1% | −0.54% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $147.4M | $176.1M | $175.7M | $181.6M | $140.9M | $169.6M | |
| Gross profit | $40.7M | $48.6M | $46.2M | $50.5M | $38.0M | $40.5M | |
| Operating income | −$5.9M | $2.1M | −$6.7M | $7.4M | −$8.1M | −$3.9M | |
| Net income | −$10.6M | $2.1M | −$9.6M | $6.7M | −$7.1M | −$5.6M | |
| Diluted EPS | −$0.04 | $0.01 | −$0.04 | $0.02 | −$0.03 | −$0.02 | |
| Gross margin | 27.6% | 27.6% | 26.3% | 27.8% | 27.0% | 23.9% | |
| Operating margin | -4.0% | 1.2% | -3.8% | 4.1% | -5.7% | -2.3% |
Fiscal years (4-quarter sums)FY21 $40.4M · FY22 $512.3M · FY23 $653.9M · FY24 $662.1M · FY25 $680.8M
Balance sheet, Jun 30, 2026Cash & short-term investments $134.2M · Total debt $119.7M · Total assets $923.6M · Shareholders' equity $765.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 260.30M · Float 214.18M · 82.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Morgan Stanley | 10.21M | 3.92% | 13F | Aug 13, 2026 |
| Cannell Capital LLC | 8.64M | 3.32% | 13F | Aug 18, 2026 |
| Toroso Investments, LLC | 5.33M | 2.05% | 13F | Aug 13, 2026 |
| Arrowstreet Capital, Limited Partnership | 2.36M | 0.91% | 13F | Aug 13, 2026 |
| Citadel Advisors LLC | 2.17M | 0.83% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- High Tide
Canadian cannabis retail overlap through Canna Cabana
- Canopy Growth
Canadian adult-use cannabis brands and product formats
- Tilray Brands
Canadian cannabis brands and international medical cannabis
- Organigram Global
Canadian adult-use cannabis brands, cultivation, and processing
- Village Farms International
Canadian cannabis cultivation, brands, and export supply
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SNDL | $1.36 | 0.00% | $352.7M | — | — | 0.5 | −7.6% |
| High Tide | $2.53 | +0.71% | $220.6M | — | 31.9 | 0.5 | +32.2% |
| Canopy Growth | $0.9900 | −1.88% | $421.9M | — | — | 0.8 | +8.4% |
| Tilray Brands | $4.59 | +0.17% | $513.3M | — | — | 0.4 | +25.5% |
| Organigram Global | $1.20 | −1.99% | $171.0M | 2.7 | 49.6 | 0.7 | +43.3% |
| Village Farms International | $2.95 | +1.90% | $354.5M | 15.5 | 14.6 | 1.5 | +6.8% |
| Median | 9.1 | 31.9 | 0.7 | +25.5% |