$15.7 million for the quarter.
Gross cannabis revenue was
$11.7 million, a decrease of 30% from the prior quarter.
Subsequent to the quarter end, announced an agreement to acquire Inner Spirit Holdings and Spiritleaf retail cannabis network. We are pleased to announce Sundial s first-ever quarter with positive earnings from operations and adjusted EBITDA, said
Zach George, Chief Executive Officer of Sundial. This result reflects our continued efforts to build a platform targeting attractive capital deployment opportunities while we focus on the continued improvement of our cultivation practices in an immature and rapidly changing industry. The sustained decline in Canadian cannabis flower pricing has prompted Sundial to liquidate certain inventory in the first quarter and we are now limiting the offering of discount products in markets where we view the economics as neither attractive nor sustainable. We do not plan to pursue top line advancement without profitability nor t
Sundial Reports First Quarter 2021 Financial and Operational Results
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First positive quarterly earnings from operations in the Company s history
CALGARY, AB, May 11, 2021 /CNW/ - Sundial Growers Inc. (NASDAQ: SNDL) ( Sundial or the Company ) reported its financial and operational results for the first quarter ended March 31, 2021. All financial information in this press release is reported in millions of Canadian dollars and represents results from continuing operations, unless otherwise indicated.
FIRST QUARTER 2021 FINANCIAL AND OPERATIONAL HIGHLIGHTS
Earnings from operations of $1.7 million compared to a loss from operations of $32.7 million in the prior quarter.
Net loss of $134.4 million as a result of $130.0 million of non-cash amounts reflecting the impact of share price volatility on accounting valuation of derivative warrants.
Sundial Reports First Quarter 2021 Financial and Operational Results
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First positive quarterly earnings from operations in the Company s history
CALGARY, AB, May 11, 2021 /PRNewswire/ - Sundial Growers Inc. (NASDAQ: SNDL) ( Sundial or the Company ) reported its financial and operational results for the first quarter ended March 31, 2021. All financial information in this press release is reported in millions of Canadian dollars and represents results from continuing operations, unless otherwise indicated.
FIRST QUARTER 2021 FINANCIAL AND OPERATIONAL HIGHLIGHTS
Earnings from operations of $1.7 million compared to a loss from operations of $32.7 million in the prior quarter.
Net loss of $134.4 million as a result of $130.0 million of non-cash amounts reflecting the impact of share price volatility on accounting valuation of derivative warrants.