SNDL cannabis operations margin falls to 1.8% in Q2 amid Jeeter ramp

Published Jul 28, 2026

SNDL reported C$101.1 million in total cannabis revenue for the second quarter, down 1.7% year over year, while cannabis operations gross margin fell to 1.8% from 25.8% and the segment’s adjusted operating loss widened to C$9.0 million amid Jeeter launch inefficiencies. For Oklahoma operators and investors, the public company’s results show how branded-product ramp costs and soft demand can erase manufacturing economics even while retail gross margin improves.