Summary by Moomoo AI
SNDL Inc. reported its financial results for the year ended December 31, 2024, with net revenue increasing 1% to $920.4 million and gross profit rising 26% to $240.3 million. The company achieved a significant improvement in gross margin to 26% from 21% in the previous year, driven by enhanced operational efficiencies and strategic initiatives.The company's operating loss narrowed to $103.8 million from $163.2 million in 2023, reflecting successful cost optimization efforts and improved business performance. SNDL generated positive free cash flow of $8.9 million, compared to negative $60.9 million in 2023, demonstrating strengthened operational execution. Notable achievements included the successful completion of the Indiva acquisition and implementation of a restructuring project expected to deliver over $20 million in annualized cost savings.The company maintained a strong financial position with $218.4 million in cash and cash equivalents as of December 31, 2024. However, SNDL faced challenges in its investment segment, recording a $65.5 million share of loss from equity-accounted investees, primarily due to fair value adjustments in its cannabis investment portfolio. The company continued its share repurchase program, buying back 5.0 million shares during the year.
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