The Société québécoise du cannabis (SQDC) posted net and comprehensive income of $30.5 million at the end of its second quarter of fiscal year 2025-2026, which ended on September 13, compared to $29.4 million for the same quarter of the previous fiscal year. Added to this amount are the tax revenues generated by its operations in the form of consumption taxes and excise taxes, which represent $67.6 million, of which $48.3 million is paid to the Quebec government and $19.3 million to the federal government.
The net income and the Quebec portion of the excise tax are paid in full to the Quebec Minister of Finance and are earmarked for cannabis prevention and research, as well as for combating the harms associated with the use of psychoactive substances. A total of $59.9 million is therefore paid to the Addiction Fund.
Quarterly results at a glance
- Total sales for the second quarter reached $189.4 million, compared to $173.7 million in the second quarter of fiscal year 2024-2025.
- In terms of volume, these sales represent 38,957 kg of cannabis, compared to 34,668 kg in the same period last year. Sustained demand for products in the concentrates category and the opening of eight stores over the past year have contributed to the increase in sales volume.
- The average selling price was $5.59 per gram, including all taxes, for all cannabis products, compared to $5.76 in the second quarter of 2024-2025.
- During this quarter, 4.8 million transactions were recorded, compared to 4.4 million in the same quarter of the previous fiscal year.
- Sales from the retail network amounted to $181.9 million, compared to $166.0 million for the same quarter of fiscal 2024-2025, while online sales reached $7.5 million, compared to $7.7 million for the same respective periods.
- For the second quarter, the SQDC's net expenses reached $31.9 million, corresponding to a ratio of 16.9% of sales, compared to $27.5 million and a ratio of 15.8% of sales for the same period last year.
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