SNDL Inc. (NASDAQ: SNDL) released its financial and operational results for the first quarter ended March 31, 2023. The results for the first quarter of 2023 include the operating results of The Valens Company Inc. subsequent to the acquisition on January 17, 2023, and the results for the first quarter of 2022 include one day of Alcanna Inc. operations subsequent to the acquisition closing on March 31, 2022.
Q1 2023 Financial Highlights
Net revenue for the first quarter of 2023 of CA$202.5 million, ($150 million) compared to CA$240.4 million in the fourth quarter of 2022, and CA$17.6 million in the first quarter of 2022, representing a 1,050% increase year-over-year. The increase over the comparative quarter in the prior year is due to the acquisitions of Alcanna, Valens and Zenabis.