Written June 5, 2025 | David Brown. Posted in Stratcann
The Société Québécoise Du Cannabis (SQDC) recorded $741.5 million in sales for the fiscal year ending March 29, 2025.
The 149,223 kg of cannabis sold in provincial stores and on SQDC.ca in 2024-2025 resulted in $118.1 million net profit. This, combined with additional taxes, resulted in $295.9 million going back to the provincial government.
This was an increase from $662.1 million in sales and net income of $104.1 million in the previous year, with $258 million going back to the province. The amount of cannabis sold in the province also increased by 21.8%, from 122,478 kg in 2023-2024.
The corporation generated $243.2 million in gross profit, up from $214.0 million in 2023–2024. Net expenses in the most recent fiscal year were $125.1 million, while staff compensation totalled $67.1 million.
The SQDC attributes the increase in sales to the addition of new retail locations. At the end of the 2024-2025 fiscal year, there were 104 such retail locations. Seven branches were opened during the year, and six were renovated to provide a better consumer experience. The most recent fiscal year also had one less week than the previous year.
The average selling price in the most recent fiscal year was $5.71 per gram, including taxes and for all cannabis products combined. This is down from $6.22 per gram in 2023-2024.
While most sales were in brick-and-mortar stores, sales through the SQDC’s website were $32.8 million. This was down from $40.0 million in 2023–2024. A postal strike in the third quarter of the most recent fiscal year could explain all or some of the decline in online sales.
The Société québécoise du cannabis was recently listed as one of 14 winners of the Retail Council of Canada’s 2025 Excellence in Retailing Awards for its 90-minute delivery service from orders placed online.
Launched in 2022, the service accounts for 43% of all online orders from SQDC. There were 133,640 orders with this delivery type during the 2024-2025 fiscal year. Two new territories were added during the year, Drummondville and Saint-Hyacinthe, bringing the number of regions where the service is now offered to nine.
For products sold in the dried flower, pre-rolls, ground cannabis, hashish, and kief categories, 381 certified products were grown in Quebec, representing 61.4% of the total product listings in the province. The SQDC sells these under the “Cultivé Québec” label.
Cannabis vapes are still expected in the fall of 2025, and in 2024, the SQDC also expanded its range of available accessories, including water pipes and torches, pipe screens, and adapters for concentrates.
“With a view to expanding its market coverage and being even more accessible, the Corporation plans to open new points of sale during the next fiscal year,” said President and CEO Suzanne Bergeron. “With customer satisfaction at the heart of its priorities, the SQDC will continue to take advantage of the opening of its new branches to optimize the experience with better adapted customer journeys and an improved product offering.”
View other cannabis industry news – Click Here