Increase in the SQDC's Net Income and Comprehensive IncomeQuébec

The Société québécoise du cannabis (SQDC) reported net and comprehensive income of $31.9 million at the end of its first quarter of fiscal year 2026-2027, which ended on June 20, 2026, compared to $27.7 million for the same quarter of the prior fiscal year. Added to this amount are the tax revenues generated by its operations in the form of consumption taxes and excise taxes, totaling $73.8 million, of which $52.9 million is remitted to the Government of Quebec and $20.9 million to the federal government.

Net income and the Quebec portion of the excise tax are paid in full to the Quebec Minister of Finance and are earmarked, in particular, for cannabis prevention and research, as well as for combating the harms associated with the use of psychoactive substances. Consequently, $65.1 million is paid into the Fund to Combat Addictions.

Quarterly Results at a Glance

• Total sales for this first quarter reached $197.3 million, compared to approximately $181.0 million in the first quarter of fiscal year 2025–2026.
• In terms of volume, these sales represent 39,936 kg of cannabis, compared to 37,114 kg during the same period last year. This increase reflects the shift toward purchases made on the legal market rather than the illegal market and is primarily attributable to the opening of six stores since the first quarter of the prior fiscal year, the responsible marketing of cannabis vaping products, which began in November 2025, and the optimization of operating hours at certain stores.
• The average selling price of cannabis products, including all taxes, was $5.61 per gram, compared to $5.57 in the first quarter of 2025–2026.
• During this quarter, 5.0 million transactions were recorded, compared to 4.6 million in the same quarter of the prior fiscal year.
• Sales from the retail store network totaled $188.9 million, compared to $173.4 million for the same quarter of fiscal year 2025–2026, while online sales reached $8.4 million, compared to $7.6 million for the respective periods.
• For the first quarter, the SQDC’s net expenses totaled $33.9 million, representing 17.2% of sales, compared to $31.7 million and 17.5% of sales for the same period last year.

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