Summary by Moomoo AI
SNDL reported Q2 2024 net revenue of $228.1M, slightly down from $231.9M in Q2 2023, with a gross profit increase to $58.2M from $51.9M YoY. The company's liquor retail segment generated $140.6M in revenue, while cannabis retail and operations contributed $76.1M and $25.6M respectively.The company completed strategic acquisitions including four Dutch Love cannabis retail stores and strengthened its position in the cannabis sector by becoming Delta 9's senior secured creditor with total indebtedness of $40.7M. Additionally, SNDL entered into a purchase agreement to acquire Indiva's assets through a credit bid in CCAA proceedings.Financial position remained stable with cash and cash equivalents of $182.9M as of June 30, 2024. The company's investment portfolio through SunStream joint venture showed positive performance with a share of net earnings of $14.4M for the first half of 2024.
