MONTRÉAL, Feb. 12, 2026 – For the third quarter of its 2025-2026 fiscal year, which concluded on January 3, 2026, the Société québécoise du cannabis (SQDC) announced a comprehensive income of $43.6 million, compared to $40.5 million in the same quarter of the prior fiscal year. Additionally, tax revenues generated through its operations—comprising consumer and excise taxes—amounted to $82.3 million, with $58.5 million allocated to the Québec government and $23.8 million to the federal government.

The net income and the Québec share of the excise tax are fully remitted to the Ministre des Finances du Québec and primarily reinvested in cannabis-related prevention initiatives, research, and efforts to combat the harmful effects of psychoactive substances. In total, $76.8 million will be transferred to the Fonds de lutte contre les dépendances.

The quarterly results in brief

• Total sales for the third quarter reached $253.7 million, up from $235.9 million in the third quarter of fiscal 2024-2025.
• Cannabis volume sales totalled 51,732 kg, compared to 47,843 kg in the same quarter last year—a rise largely due to the opening of eight stores over the past year.
• The average sales price, including taxes, for all combined cannabis products was $5.64 per gram, down from $5.67 in the third quarter of fiscal 2024-2025.
• During the quarter, 6.4 million transactions were recorded, compared to 6.0 million in the same quarter of the prior fiscal year.
• Store network sales increased to $243.2 million versus $226.5 million in the same quarter of fiscal 2024-2025, while online sales reached $10.5 million, compared to $9.4 million in the respective prior periods.
• For the third quarter, the SQDC’s net expenses amounted to $40.9 million, or 16.1% of sales, compared to $37.5 million (15.9% of sales) in the same quarter last year.

Prospects

SQDC management is satisfied with the results of the third quarter of its 2025-2026 fiscal year, the final year of its Strategic Plan 2024-2026. By focusing on three pillars—employee engagement, enhancing customer guidance, and promoting its mission within Québec society—the SQDC aims to remain Québec’s trusted destination for purchasing cannabis.

To fulfill its mission by improving accessibility, the SQDC has adjusted the operating hours across its store network. Effective February 1, 2026, this change seeks to optimize operations by better aligning with customer traffic patterns and 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 aligns with the company’s mission to safeguard user health by offering regulated, lower-risk products, encouraging customers to transition to and remain 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: .

About the Société québécoise du cannabis (SQDC)

The SQDC is a government-owned corporation tasked with distributing and selling cannabis in Québec, with a focus on protecting customer health and safety. The company is dedicated to providing quality products and educating consumers on minimizing the health impacts of cannabis. Its goal is to reduce Québec’s illegal cannabis market. The declared dividend, equivalent 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 primarily reinvested in cannabis-related research and harm prevention. For more information, visit .

SOURCE Société québécoise du cannabis