SNDL, Inc. (NASDAQ:SNDL) Q1 2023 Earnings Conference Call May 15, 2023 1:00 PM ET
Company Participants
Zachary George - CEO
James Keough - CFO
Tank Vander - President, Liquor Retail
Tyler Robson - President, Cannabis
Conference Call Participants
Andrew Partheniou - Stifel, Nicolaus & Company
Matt Bottomley - Canaccord Genuity
Frederico Gomes - ATB Capital Markets
Sahil Dhingra - RBC Capital Markets
Operator
Good morning, and welcome to SNDL's First Quarter 2023 Financial Results Conference Call. This morning, SNDL issued a press release announcing their financial results for the first quarter ended on March 31, 2023. This press release is available on the company's website at sndl.com and filed on EDGAR and SEDAR as well. The webcast replay of the conference call will also be available on sndlgroup.com website. SNDL has also posted a supplemental investor presentation on its website.
Presenting on this morning's call, we have Zach George, Chief Executive Officer; Jim Keough, Chief Financial Officer; Tank Vander, President, Liquor Retail; and Tyler Robson, President Cannabis.
Before we start, I would like to remind investors that certain matters discussed in today's conference call or answers that may be given to questions could constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect results are detailed in the company's financial reports and other public filings that are made available on SEDAR and EDGAR.
Additionally, all financial figures mentioned are in Canadian dollars unless otherwise indicated. We will now make prepared remarks, and then we'll move on to analyst questions.
I would now like to turn the call over back Zach George, Chief Executive Officer.
Zachary George
Hello, everyone, and thank you for joining us on our first quarter 2023 earnings call. This past quarter was transformative for SNDL, as we successfully closed the acquisition of Valens in January. This strategic move establishes SNDL as one of Canada's largest vertically integrated cannabis companies. With this capstone acquisition, SNDL now possesses robust capabilities in low-cost biomass sourcing, premium indoor cultivation, innovative product development and efficient manufacturing facilities. We are confident that these capabilities will allow us to deliver high-quality products and services that meet the evolving needs of our customers and stakeholders.
During the last 2 years, our team has diversified SNDL's capital and operating base and transformed our business model through a series of strategic acquisitions, including both cannabis and liquor retail operations, as well as the credit portfolio that generates cash interest and creates optionality related to U.S. market exposure. Our top priority is to maintain our focus on the consumer, while working to drive sustainable profitability by optimizing each of our operating segments and benefiting from new cash flow streams.