Market Overview

Sundial Growers Posts $25.3M In Q3 Net Revenue

Sundial Growers Posts $25.3M In Q3 Net Revenue

Sundial Growers Inc. (NASDAQ: SNDL) posted net revenue of CA$33.5 million ($25.3 million) in the third quarter, the cananbis company said Wednesday. 

Sundial's harvest has grown from 1,896 kilograms in the first quarter to 11,700 kg in the third, according to the Calgary, Canada-based company. 

The average selling price per gram for Sundial's branded cannabis products was CA$6.34 in the third quarter. 

The company's net loss amounted to CA$97.5 million. The consolidated adjusted EBITDA loss was CA$7.9 million. 

"The increasing scale of our Canadian and new U.K. operations enabled us to significantly grow production and sales this quarter," CEO Torsten Kuenzlen said in a statement. 

"We step-changed production quantities while improving quality and growing a much larger variety of desirable premium cannabis strains. At the same time, we advanced operationally for effectiveness and efficiency and carefully managed our inventory levels. Production expansion went hand-in-hand with geographic expansion, as we increased coverage to additional Provincial boards and stores across Canada."

The stock was down 8.45% at $3.30 at the time of publication Thursday. 

Related Links: 

Female-Focused Cannabis Wellness Co. Kikoko Raises $8M In Series A Funding

Canopy Growth Analysts Parse Q2 Print As Investors Retreat

Photo courtesy of Sundial Growers. 

Posted-In: Cannabis Earnings News Markets


Related Articles (SNDL)

View Comments and Join the Discussion!

Cannabis Movers

Sign up for our secret cannabis newsletter!
Never miss out on the breaking news in the Cannabis Industry!

Cannabis Ads Finally Hitting BuzzFeed, Thrillist And USA Today

Freight Futures Dily Curve: 11/14