The Société québécoise du cannabis (SQDC) recently published its second quarterly results of the 2021-2022 fiscal year (June 20 to September 11, 2021), with sales of $142 million, bringing in $19 million in revenue for the province.
This was nearly a $22 million increase in sales from the second quarter of the previous fiscal year and nearly a $4 million increase in revenue.
This SQDC says this amount will be invested in cannabis research and prevention as well as in the fight against the harms associated with the use of psychoactive substances.
In addition to revenue from sales, the province also brought in $53.5 million in tax revenue from cannabis sales, with another $13.9 going to Ottawa. The provinces received 75% of the federal excise tax.
The SQDC had 77 retail stores at the end of the quarter, up from 45 in the same quarter for the previous year. The province sold 25,857 kg of cannabis in Q2 2021-2022, with about 94% of sales (24,464 kg) coming from retail stores and about 6% (1,393 kg) coming from online sales. The average price per gram is about $6.32, tax included.
Sales from dried flower were just over $140 million, while all other products were just under $1.8 million. The Interim Financial Report for the 12-week quarter ended September 11, 2021 is available here.