Sundial Growers Inc
NASDAQ:SNDL
Sundial Growers Inc
Sundial Growers, Inc. is a licensed producer that crafts small-batch cannabis using state-of-the-art indoor facilities. The company is headquartered in Calgary, Alberta and currently employs 394 full-time employees. The company went IPO on 2019-08-01. The Company’s segments include Cannabis Operations, Cannabis and Liquor Retail and Investment Operations. Its portfolio brands includes Top Leaf, Sundial Cannabis, Palmetto, and Grasslands. The firm operates the Spiritleaf retail banner. The firm also operates a private-sector retailers of alcohol in North America and Canada by number of stores, operating locations in Alberta and British Columbia. Its investment operations seek to arrange strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry.
Sundial Growers, Inc. is a licensed producer that crafts small-batch cannabis using state-of-the-art indoor facilities. The company is headquartered in Calgary, Alberta and currently employs 394 full-time employees. The company went IPO on 2019-08-01. The Company’s segments include Cannabis Operations, Cannabis and Liquor Retail and Investment Operations. Its portfolio brands includes Top Leaf, Sundial Cannabis, Palmetto, and Grasslands. The firm operates the Spiritleaf retail banner. The firm also operates a private-sector retailers of alcohol in North America and Canada by number of stores, operating locations in Alberta and British Columbia. Its investment operations seek to arrange strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry.
Record Free Cash Flow: SNDL delivered record quarterly free cash flow of $16.7 million and achieved positive cumulative free cash flow for the first nine months of the year.
Revenue Growth: Net revenue reached $244 million, up 3.1% year-over-year, driven mainly by strong performance in the Cannabis segments.
Operating Loss Due to Noncash Items: Reported operating loss of $11 million was mainly driven by $11.9 million in noncash charges, including inventory write-downs and share-based compensation.
Margin and SG&A Improvements: Cannabis Retail segment set new records for revenue, gross profit, and operating income, supported by margin expansion and SG&A efficiencies.
Strong Cannabis Operations Growth: Cannabis Operations revenue grew 50% year-over-year to $37.4 million, with international sales momentum and recent acquisition benefits.
International Expansion: International sales reached $4.2 million in Q3 and are expected to continue growing with increased production capacity.
Solid Balance Sheet: Company maintains a strong balance sheet with no debt and over $240 million in unrestricted cash.
Guidance for Cannabis Margins: Cannabis Operations gross margin, excluding one-time adjustments, is expected to be at least 25% going forward.
