SNDL Inc. announced that it will release its financial results for the third quarter of fiscal year 2026 on Tuesday, October 27, 2026. The report covers the period ended September 30, 2026.

The company stated that the results will be made available before markets open on the scheduled date. This announcement follows the standard reporting cycle for the vertically integrated cannabis and liquor retailer.

Conference Call Details

Following the release of the quarterly results, SNDL will host a conference call and webcast to discuss the performance. The session is scheduled for 10:00 am EDT (8:00 am MDT) on October 27, 2026.

Investors and analysts can access the live webcast via the company’s investor relations portal. The company has not disclosed specific financial metrics or guidance in this preliminary notice.

Company Profile

SNDL operates as one of the largest vertically integrated cannabis companies and the largest private-sector liquor and cannabis retailer in Canada. Its retail banners include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf.

The company’s consumer-facing cannabis brands include Top Leaf, Contraband, Palmetto, Bon Jak, La Plogue, Versus, Value Buds, Grasslands, Vacay, Pearls by Grön, No Future, and Bhang Chocolate. SNDL also maintains an investment portfolio focused on strategic capital deployment within the North American cannabis industry.

SNDL Inc. reported its financial and operational results for the second quarter ended June 30, 2026, reflecting continued market softness across its core operating segments and temporary production inefficiencies. All financial figures are expressed in millions of Canadian dollars unless otherwise indicated. Net revenue for the quarter was $235.8 million, a decline of 3.7% compared to the same period of the prior year, while the company recorded an operating loss of $(7.8) million against operating income of $5.0 million in the year-ago quarter.

Key Financial Highlights — Q2 2026

The following table summarises SNDL's consolidated financial performance for the three and six months ended June 30, 2026 and 2025 (in $000s):

Gross profit of $56.3 million in the second quarter of 2026 represents a decline of $(11.3) million, or -16.6%, compared to the same period of the prior year, driven by lower revenue across all segments and Jeeter production ramp-up costs in Cannabis Operations. Gross margin of 23.9% represents a reduction of -3.7 percentage points compared to the same period of the prior year, mainly driven by the Cannabis Operations and Liquor Retail segments, partially offset by margin expansion in Cannabis Retail.

Cash flow was negative by $(30.2) million in the second quarter of 2026, partly driven by cash outflows of $23.5 million related to share repurchases. Free cash flow was negative $(6.7) million, primarily driven by the $6.9 million annual payment of the 2025 management incentive and a $2.7 million increase in cash-in-transit, representing an improvement of $1.2 million compared to the same period in the prior year.

Business Segment Performance

SNDL operates through four segments: Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments. The following table presents net revenue and operating income by segment for the three and six months ended June 30 (in $000s):

Liquor Retail

SNDL is Canada's largest private sector liquor retailer, operating at July 27, 2026 in 165 locations, predominantly in Alberta, under three retail banners: "Wine and Beyond" (16), "Liquor Depot" (19), and "Ace Liquor" (130). Liquor Retail net revenue was $134.7 million in the second quarter, down 5.1% year-over-year, as persistent softness in market demand continued to impact same-store sales, which decreased by -6.2% compared to the same period in the prior year. Gross profit declined 7.4% to $33.8 million, with gross margin at 25.1% compared to 25.7% in the prior year period. Operating income of $3.0 million declined significantly from $6.7 million in the prior year period, driven by lower revenue, increased promotional support, and higher SG&A expenses associated with recent Wine & Beyond store openings.

Cannabis Retail

SNDL is one of Canada's largest private-sector cannabis retailers, operating at July 27, 2026 in 192 locations under three retail banners: "Value Buds" (127), "Spiritleaf" (60, of which 4 are corporate stores and 56 are franchise stores), and "Cost Cannabis" (5). Cannabis Retail net revenue was $83.2 million in the second quarter, down 1.4% year-over-year, driven by a -4.6% decline in same-store sales reflecting market contraction in Alberta and Ontario, partially offset by incremental revenue from new stores and Value Buds store conversions. Gross profit of $22.0 million was broadly flat year-over-year (+0.5%), with gross margin improving 0.5 percentage points to 26.4%. Operating income declined to $3.0 million from $4.2 million in the prior year period, primarily due to the absence of a $1.1 million impairment reversal recorded in the second quarter of 2025.

Cannabis Operations

Cannabis Operations net revenue was $32.2 million in the second quarter, down 10.1% year-over-year, driven by overall softening market demand and the absence of flower business-to-business deliveries. These declines were partially offset by growth in international sales, which increased from $3.8 million in the second quarter of 2025 to $5.0 million in the second quarter of 2026. Gross profit fell sharply to $567 thousand from $9.2 million in the prior year period (-93.9%), with gross margin contracting 24.0 percentage points to 1.8%, primarily due to significant production ramp-up inefficiencies associated with the Jeeter launch. Operating loss widened to $(9.2) million from $(3.1) million in the same period of the prior year. In May, the Company received net cash proceeds of $1.7 million from the sale of the idle Stellarton facility, resulting in a loss on disposition of $0.2 million.

Investments and Balance Sheet

As of June 30, 2026, SNDL had deployed capital to a portfolio of cannabis-related investments with a carrying value of $415.2 million, including $400.4 million to SunStream Bancorp Inc. The carrying value was increased by $5.0 million during the second quarter, primarily due to an increase in the USD to CAD exchange rate from 1.3939 on March 31, 2026 to 1.4210 on June 30, 2026, partially offset by a $(2.3) million reduction in net asset value driven in part by declines in the value of Cannabist Co.'s notes and equity interest following that company's entry into Chapter 15 restructuring proceedings. As a result, the investment portfolio generated operating losses of $(1.6) million in the second quarter of 2026.

The company reported total assets of $1,283,928 thousand as at June 30, 2026, compared to $1,335,917 thousand as at December 31, 2025. Cash and cash equivalents stood at $183,208 thousand at June 30, 2026, with no outstanding debt. Total shareholders' equity was $1,063,693 thousand at June 30, 2026.

Share Repurchase Program and Equity Position

SNDL held $598.5 million of unrestricted cash, marketable securities and investments, including investments in equity-accounted investees, and no outstanding debt at June 30, 2026, resulting in a net book value of $1.1 billion. During the three months ended June 30, 2026, the Company purchased for cancellation 11,747,395 common shares at a weighted average price, excluding commissions, of US$1.43 per share. Since the fourth quarter of 2024, the Company has repurchased 29,005,622 common shares for cancellation as of July 23, 2026.

Parallel Restructuring — A Strategic Milestone

On July 27, 2026, the restructuring of Parallel (Surterra Holdings, Inc. and certain of its affiliates) was completed. Subject to satisfying the remaining legal, regulatory, accounting, and NASDAQ requirements, SNDL expects to gain direct control of Parallel's medical cannabis operations in Florida, Texas, and Massachusetts in the coming months. With 56 retail locations and three cultivation and manufacturing facilities, Parallel is expected to generate annualized revenue of approximately US$150 million in the near term. The Investments segment also noted that on April 23, 2026, the United States Department of Justice and the United States Drug Enforcement Administration issued an order placing Food and Drug Administration-approved cannabis products and state-regulated medical cannabis in Schedule III of the United States Controlled Substances Act, while initiating an expedited administrative hearing process to consider rescheduling all cannabis from Schedule I to Schedule III.

Adjusted EBITDA

Adjusted EBITDA for the second quarter of 2026 was $12,526 thousand, compared to $19,446 thousand in the same period of the prior year. For the six months ended June 30, 2026, Adjusted EBITDA was $18,353 thousand, compared to $28,403 thousand in the same period of the prior year.