Société québécoise du cannabis Reports C$40.5 Million in Third Quarter Income

LOS ANGELES- The Société québécoise du cannabis (SQDC), Quebec’s government-operated cannabis retailer, announced a comprehensive income of C$40.5 million for the third quarter of its fiscal year ending January 4, 2025. This represents an increase from the C$33 million reported during the same period in the previous year.

Total sales for the quarter reached C$235.9 million, up from C$201.6 million in the corresponding quarter of the prior fiscal year. The SQDC sold 47,843 kilograms of cannabis across six million transactions, compared to 37,215 kilograms sold in the same quarter the previous year.

The increase in sales is partly attributed to the growing popularity of cannabis concentrates. Additionally, the resolution of a labor dispute during the quarter contributed to increased customer traffic during the holiday period.

As a government corporation, the SQDC remits its profits to the Quebec government. In this quarter, it contributed C$113.1 million, including C$92 million allocated to the Quebec Treasury for cannabis-related prevention efforts and research. Sales also generated C$72.6 million in tax revenue.

The SQDC operated 101 retail locations during the quarter, an increase of three stores over the past year, and plans to continue expanding its presence and delivery services in the province.