Increase in net income and comprehensive income for the SQDCDaily news

For the first quarter of its 2025-2026 fiscal year, which ended on June 21, 2025, the Société québécoise du cannabis (SQDC) reported comprehensive income of $27.7 million, compared with $23.9 million for the same quarter of its preceding fiscal year. To this can be added the tax revenues generated by its operations in the form of consumer and excise taxes, estimated at $68.0 million, with $48.8 million going to the Québec government and $19.2 million to the federal government.

The dividend and the Québec portion of the excise tax are remitted in full to the Ministre des Finances du Québec and reinvested primarily in cannabis-related prevention efforts and research and in the fight against the harmful effects of psychoactive substances. In all, $76.5 million will be transferred to the Fonds de lutte contre les dépendances.

The quarterly results in brief

• Overall sales for the first quarter reached $181.0 million versus $162.9 for the first quarter of the 2024-2025 fiscal year.
• Volume sales totalled 37,114 kg of cannabis, compared with 32,098 kg for the same quarter last year. Growing demand for concentrates category products and the opening of eight new stores influenced the rise in volume sales.
• The average sales price, including taxes, for all cannabis products combined was $5.61 per gram, as opposed to $5.84 in the first quarter of fiscal 2024-2025.
• During the quarter, 4.6 million transactions were recorded, compared with 4.1 million in the same quarter of the preceding fiscal year.
• Store network sales rose to $173.4 million, compared with $155.0 million for the same quarter of fiscal 2024-2025, while online sales reached $7.6 million versus $7.9 million for the same respective periods.
• For the first quarter, the SQDC's net expenses totalled $31.7 million or 17.5% of sales, compared with $28.8 million and 17.7% of sales for the same quarter last year.

Prospects

SQDC management is satisfied with the results for its first quarter of fiscal 2025-2026. The company ended the quarter with 106 stores in operation, including those in Amqui and Pierrefonds, which opened their doors between March 31 and June 21, 2025, compared with 98 stores at the end of the same quarter of the preceding fiscal year. The opening of new points of sale during the first quarter and throughout the fiscal year is aligned with the strategic plan objective to improve accessibility and thus enable the SQDC to carry out its mission. The company is also making good on its commitment to offer products that are lower risk than those available on the illegal market. Accordingly, the SQDC is preparing to begin selling vaping products responsibly in the late fall of 2025.

To read the full report: SQDC