SNDL Q2 Revenue Soars 2344% YoY

$SNDL Inc (SNDL.US)$
Q2 2022 Financial Highlights
Gross margin grew to CA$43.1 million, a record since its inception, up 1,627% from its second quarter of 2021 loss of CA$2.8 million.
Net loss of CA$74.0 million for the second quarter of 2022, compared to a CA$52.3 million net loss in the second quarter of 2021, a 41% increase.
Adjusted EBITDA loss of CA$25.9 million for the second quarter of 2022, including an adjusted EBITDA loss of CA$35.5 million from the investments segment, compared to adjusted EBITDA loss of CA$0.2 million in the second quarter of 2021.
CA$900 million of cash, marketable securities, and long-term investments and no outstanding debt at June 30, 2022; CA$334.9 million of unrestricted cash at August 11, 2022.
Liquidity Position
Effective July 25, 2022, the company's common shares were consolidated on a one share for each ten shares outstanding basis pursuant to shareholder approval at the company's annual and special meeting of shareholders.
As at June 30, 2022, and August 11, 2022, the company had an unrestricted cash balance of CA$363 million and CA$334.9 million, respectively, and a total of 238 million post-consolidation shares outstanding as at August 11, 2022.
For the six months ended June 30, 2022, the company purchased and cancelled 0.5 million common shares at a weighted average price of CA$3.86 ($2.98) per common share for a total cost of CA$2.0 million. SNDL has CA$98 million remaining under its current buyback program allowing the company to repurchase from time to time at prevailing market prices, enabling SNDL to opportunistically return value to shareholders. The share repurchase program expires on November 19, 2022.