Could SNDL's Sales Top $1 Billion Next Year?
SNDL (NASDAQ: SNDL) has been an underwhelming investment to hang on to this year, with its shares down 46% since Jan. 1. However, the company has been attempting to win over investors by diversifying its business to more lucrative areas via acquisitions. These moves have significantly increased its revenue.
If management continues on this trajectory, the company could potentially hit the $1 billion mark in revenue next year. That could make the business a more tenable investment, provided it also leads to profitability. The question is: Can SNDL reach $1 billion in revenue next year, and if it does, will that be enough for things to turn around for the troubled pot stock?
SNDL last reported earnings on Nov. 14, when it posted revenue of 230.5 million Canadian dollars ($170 million) for the period ending Sept. 30. On a year-over-year basis, that represented a jump of 1,501% from the prior-year period. SNDL didn't include the results of the recently acquired Alcanna, a top liquor retailer in Canada. That transaction only closed on March 31. Nevertheless, the acquisition of Nova Cannabis -- specifically sales from the Value Buds brand -- drove the bulk of the revenue growth.
Source Fool.com
