tiprankstipranks
SNDL Posts 11x Revenue Growth in 2022
Market News

SNDL Posts 11x Revenue Growth in 2022

Cannabis and liquor products provider SNDL (NASDAQ:SNDL) has seen its top line surge by 1170%  for the year 2022 to C$712.2 million.

Pick the best stocks and maximize your portfolio:

The jump in revenue came on the back of strength in Liquor Retail, Cannabis Retail, and Cannabis Operations verticals. Additionally, the company generated C$28.6 million from operating activities during Q4, clocking a 233% surge over Q3.

Net loss for the year though, widened to C$372.4 million from C$226.8 million in 2021 primarily due to goodwill impairment charges. Importantly, the company was debt free and had a cash pile of C$207 million as of April 19, 2023.

SNDL shares have declined 30.4% so far this year. At the same time, short interest in the stock remains elevated at about 6.1% at present.

Read full Disclosure

Related Articles
TipRanks Canadian Auto-Generated NewsdeskSNDL Strengthens Leadership for Future Growth
TheFlySNDL appoints new Chief Information Officer and new President, Liquor Division
TheFlyLargest borrow rate increases among liquid names
Go Ad-Free with Our App