MONTRÉAL, Sept. 10, 2026 /CNW/ -- For the first quarter of its 2026-2027 fiscal year, which ended on June 20, 2026, the Société québécoise du cannabis (SQDC) reported comprehensive income of $31.9 million, compared with $27.7 million for the same quarter of the preceding fiscal year. To this can be added the government revenues generated by the company's operations in the form of consumer and excise taxes, totalling $78.3 million, with $52.9 million going to the Québec government and $20.9 million to the federal government.
The net income and the Quebec portion of the excise tax are remitted in full to the Ministre des Finances du Québec and reinvested primarily in cannabis-related prevention efforts and research and in countering the harmful effects of psychoactive substances. In all, $65.1 million will be transferred to the Fonds de lutte contre les dépendances, the fund to combat addiction.
Quarterly results in brief
- Overall dollar sales for the first quarter reached $197.3 million versus $181.0 million for the first quarter of fiscal 2025-2026.
- Volume sales totalled 39,936 kg of cannabis, compared with 37,114 kg for the same quarter last year. This increase reflects the growth of sales made on the legal market instead of the illegal market and is attributable notably to the opening of six stores since the first quarter of the preceding fiscal year, the responsible sale of cannabis vaping products, which began in November 2025, and optimized opening hours at certain stores.
- The average sales price, including taxes, for cannabis products was $5.61 per gram as opposed to $5.57 in the first quarter of fiscal 2025-2026.
- During the quarter, 5.0 million transactions were recorded, compared with 4.6 million in the same quarter of the preceding fiscal year.
- Store network sales rose to $188.9 million versus $173.4 million for the same quarter in fiscal 2025-2026, while online sales totalled $8.4 million, compared with $7.6 million for the same respective periods.
- For the first quarter, the SQDC's net expenses totalled $33.9 million or 17.2% of sales in comparison to $31.7 million and 17.5% of sales for the same quarter last year.
Prospects
SQDC management is satisfied with the company's results for the first quarter of its 2026-2027 fiscal year, which saw the implementation of its new Strategic Plan 2027-2029. By relying on two pillars – reducing obstacles to integrating and retaining users in the legal market and strengthening its organizational foundations – the SQDC intends to remain the trusted destination for buying cannabis in Québec.
With a view to improving accessibility in order to better carry out its mission, the company will focus on optimizing its store network while also opening a few new points of sale in areas that are not yet served. The SQDC is also maintaining its commitment to offering products with lower risk than those found on the unregulated illegal market, particularly through ongoing follow-up on the responsible sale of cannabis vaping products.
The financial report for the first quarter of the 2026-2027 fiscal year is now available (in French only) on the SQDC website: SQDC.ca.
About the Société québécoise du cannabis (SQDC)
With more than 1,300 employees, the SQDC is a Québec government corporation mandated to distribute and sell cannabis while prioritizing customers' health and safety. The SQDC is the only legal venue for buying cannabis in Québec, whether in one of its more than 110 stores or online at SQDC.ca. The goal is to transition users to the legal market and retain them there without encouraging use. The company's dividend and Québec's share of the excise tax are remitted in full to the Fonds de lutte contre les dépendances (fund to combat addiction), which is managed by the Ministère des Finances. Since opening for business in 2018, the SQDC has contributed more than $2 billion to the provincial and federal governments. For more information, visit SQDC.ca.
SOURCE Société québécoise du cannabis
Media inquiries: Chu Anh Pham, Public Affairs Advisor and Spokesperson, 438 884-1693, [email protected]
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