Alberta cannabis and alcohol company SNDL cut its annual loss in fiscal 2023 in half – to 176.6 million Canadian dollars ($130.5 million) – on strong sales growth.
That was down from SNDL’s 2022 net loss of CA$372.4 million, according to the company’s financial results for the full year and fourth quarter ended Dec. 31, 2023.
ADVERTISEMENT
Net revenue was CA$909 million for the year, a 28% increase from CA$712.2 million a year earlier.
SNDL’s free cash flow for the year was negative CA$60.9 million, two times worse than 2022’s figure of minus CA$31.9 million.
However, the Alberta business said it achieved positive free cash flow in the second half of fiscal 2023, totaling CA$17.7 million.
“2023 was a year of significant financial success
Read full article on Marijuana Business Daily
