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The SQDC’s third quarter of fiscal 2025-2026: Comprehensive income of $43.6 million

Société québécoise du cannabis
Thursday at 3:55pm AST · February 12, 2026 3 min read

MONTRÉAL, Feb. 12, 2026 /CNW/ – For the third quarter of its 2025-2026 fiscal year, which ended on January 3, 2026, the Société québécoise du cannabis (SQDC) reported comprehensive income of $43.6 million, compared with $40.5 million for the same quarter of the preceding fiscal year. To this can be added the tax revenues generated by its operations in the form of consumer and excise taxes, totalling $82.3 million, with $58.5 going to the Québec government and $23.8 million to the federal government.

The net income and the Québec 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 the fight against the harmful effects of psychoactive substances. In all, $76.8 million will be transferred to the Fonds de lutte contre les dépendances.

The quarterly results in brief

  • Overall sales for the third quarter reached $253.7 million versus $235.9 million for the third quarter of fiscal 2024-2025.
  • Volume sales totalled 51,732 kg of cannabis, compared with 47,843 kg for the same quarter last year, an increase largely attributable to the opening of eight stores in one year.
  • The average sales price, including taxes, for all cannabis products combined was $5.64 per gram as opposed to $5.67 in the third quarter of fiscal 2024-2025.
  • During the quarter, 6.4 million transactions were recorded, compared with 6.0 million in the same quarter of the preceding fiscal year.
  • Store network sales rose to $243.2 million versus $226.5 million for the same quarter in fiscal 2024-2025, while online sales totalled $10.5 million, compared with $9.4 million for the same respective periods.
  • For the third quarter, the SQDC’s net expenses totalled $40.9 million or 16.1% of sales, as opposed to $37.5 million and 15.9% of sales for the same quarter last year.

Prospects

SQDC management is satisfied with the results for the third quarter of its 2025-2026 fiscal year, the final year of its Strategic Plan 2024-2026. By relying on three pillars – the involvement of its teams, optimizing the guidance provided to customers and making known its mission in Québec society – the SQDC intends to remain the trusted destination for buying cannabis in Québec.

To fulfill its mission by improving accessibility, the SQDC has revised the opening hours across its store network. In effect since February 1, 2026, the change is aimed at optimizing operations by being better aligned with traffic patterns and customers’ habits. The company also opened one store during the third quarter and plans to open three more in the coming months.

The SQDC has been selling cannabis vaping products since November 26, 2025. Introducing this new product category is in keeping with the company’s mission to protect users’ health by offering regulated, lower-risk products to encourage customers to migrate to and stay in the legal market.

The financial report for the third quarter of the 2025-2026 fiscal year is now available (in French only) on the SQDC website: SQDC.ca.

About the Société québécoise du cannabis (SQDC)

The SQDC is a government corporation mandated to distribute and sell cannabis in Québec with a focus on protecting customers’ health and safety. The company is committed to offering quality products and informing and advising consumers on how to minimize the health impacts of cannabis. The goal is to shrink the illegal cannabis market in Québec. The declared dividend, equal to the company’s net income, is transferred to the Fonds de lutte contre les dépendances, a fund managed by the Ministère des Finances du Québec, and reinvested primarily in cannabis-related research and the prevention of harmful effects. For more information, visit SQDC.ca.

SOURCE Société québécoise du cannabis

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