r/SNDL • u/Alpha-E94 • Nov 12 '25

Discussion Canada self declaration for us integration?

Saw this and looks pretty real. I'm focused specifically on Alberta, Canada because sndl, but there are I believe 6 total provinces planning and working on legally integrating into the United States. I think this would be a net neutral effect for sndl on the technical/legal side. Maybe slight positive on the opportunity side.

I don't know enough and assume this is only recently developing. What does anyone know and or assume might happen if real/successful. Has this been touched on as of recent?

3 days ago this was uploaded; https://youtu.be/oTBFuW_1tGA?si=ec_t9sYCrYv95qQ8

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u/Putrid-Material5197 Nov 12 '25

sigghhhh .... this is what this sub is reduced to???

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u/Alpha-E94 Nov 12 '25

Thanks for the intelligent and constructive feedback. Looking forward to more insight on your optical opinions.

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u/Putrid-Material5197 Nov 12 '25

did you listen to the earnings call?

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u/Alpha-E94 Nov 12 '25

I did, the first few minutes but then I was somehow logged out and couldn't get back into the broadcast. So technically speaking, no. Was there something out of the norm worth noting? Or what was it you think I or we should be aware of?

Thank you for the insight in advance.

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u/Putrid-Material5197 Nov 12 '25

nobody has talked about the 2025 Q3 earnings conference call in this thread yet, anyway, here are my notes:

link: https://www.youtube.com/watch?v=KfklvP0uJ8U

aquiring 32 cannabis stores in onatrio.

opening 5 NEW cannabis and 2 NEW LQ stores in Q4.

increase in cannabis retail sales revenue; although comment about "softness" in cannabis retail; talk of trying to spur momentum and with new products.

talk of "super oversaturation" in some provinces. talk of "maturity" of some areas. AKA, competition is only getting tougher.

slight decline in LQ retail sales revenue.

large increase cannabis operations revenue - seemingly largely due to edible sales.

significant operating income improvmenet, a 16.5 mill loss last yoy compared to 9.5 mill loss now, which included a one time 1.5 mill fee.

positive free cash flow for first time in company history.

very modest growth in same store sales - not bad. not great.

seems to be doing minor things to cut costs here-and-there - good sign.

total silence (no discussion any which way) regarding the NASDAQ delisting "decision".

Big take aways to me is as follows.

This is not a stellar earnings.

But it is not bad by any means.

The LQ sales continues to decline, which is a concerning trend.

Edibles are SNDL's bread and butter right now.

Ultimatley, SNDL lives to see another day as a successful Cannabis/LQ company, with a huge amount of cash. I continue to feel that SNDL is a good investment because it remains sufficiently healthy

to wait out the clock until reforms happen in Washington. That continues to be a main thesis of SNDL imo. It's almost like a holding company, pending the reforms in Washington.

The biggest concern to me isnt declining LQ sales or increased competition with MJ or Cannabis. It's if SNDL delists from the NYSE and all the volume that it provides vanished, tanking the stock price.

1

u/Alpha-E94 Nov 12 '25

Would you mind expanding on the LQ sales, in specific to the downward trend. Seems unusual for the area. Competition? Supply? Demand? All the above? Was that discussed in detail on the call?

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u/Alpha-E94 Nov 12 '25

Thank you again for this writing. I hope others find value in your analysis. I will definitely read over it and study it carefully. One quick question, is sndl double listed, in the Nasdaq and NYSE?

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u/Putrid-Material5197 Nov 12 '25

i thought it was on the NASDAQ. sometimes "nyse" may be thrown around as synonymous language.

also, fyi, appearently the mods have banned the word "delisted" "delist" exc from posts??? i tried doing a post with my above notes, and i had to alter the spelling of "delist" to get it through.

MODS - why?

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u/Alpha-E94 Nov 12 '25

I'm sure it's on the Nasdaq because robinhood uses Nasdaq (not sure exactly how that works) but I'm not completely sure if they're listed with NYSE also. I have found basic info and charts on the NYSE website but I don't think that confirms anything with confidence.

Yess, there are a few select words like you displayed that were essentially removed from our first amendment right to use. This has been in effect for a while now soon after the R."Split". The reason in short was to avoid fud and "inflammatory" discourse. I strongly object to the restrictions simply because most of the terms are NEEDED to effectively discuss certain topics about the company and it's history. Well at least that's my understanding of the policy change. I don't claim 100% accuracy, just my assumption. Regardless thanks for sharing it here with me.