The SQDC exceeded $800 million in cannabis sales in 2025

The Société québécoise du cannabis (SQDC) reported another year of growth in 2025–2026, with sales reaching 809.5 million Canadian dollars (just over 500 million euros), representing a 9% increase compared to the previous fiscal year. According to its annual report published on June 11 and reported by StratCann, the state-owned company also generated a net profit of $132.4 million, up 12% year-over-year.

In total, the SQDC’s operations have generated $331.3 million for the Government of Quebec in dividends, taxes, and excise duties. Since its launch in 2018, Quebec’s cannabis monopoly claims to have generated more than 2 billion Canadian dollars in financial benefits for the government.

Growth driven by new stores and vape products

The total volume of cannabis sold reached 165,169 kilograms, compared to 149,223 kilograms a year earlier, representing an 11% increase. The SQDC attributes this increase primarily to the opening of six new branches as well as the introduction of a new product category: cannabis vape cartridges, authorized since November 2025.

In just a few months, vaping products accounted for 6.5% of the organization’s total sales. The 1-gram cartridges are priced between 34 and 53.70 Canadian dollars, with an average price of 41.15 dollars.

The SQDC network now comprises 110 retail locations, in addition to its online platform. The company recorded 20.5 million transactions over the course of the year, compared with 18.8 million in the previous fiscal year.

Quebec cannabis is well represented

The product lineup continues to prioritize locally grown products. The SQDC reports that 64% of the products sold carry the “Cultivé Québec” certification, guaranteeing that they were grown in the province.

Dried flowers remain by far the dominant category, accounting for approximately 77% of sales, while processed products, extracts, and other formats make up the rest of the market.

At the same time, the average retail price of cannabis declined slightly. Across all products, a gram sold for an average of $5.63, including taxes, compared to $5.71 the previous year. This moderate decline is part of a strategy aimed at maintaining the competitiveness of the legal market against unregulated operators.

Hundreds of millions invested in prevention

Tax revenue generated by cannabis sales reached $278.8 million, of which $198.9 million went to the Quebec government and $79.9 million to the Canadian federal government.

The net profit of $132.4 million, along with Quebec’s share of excise duties, is paid in full to the Quebec Ministry of Finance. According to the SQDC, this represents $250.6 million allocated to the Addiction Prevention and Research Fund, intended in particular for prevention initiatives related to cannabis and the reduction of risks associated with the use of psychoactive substances.

A new strategic plan to attract more consumers

The SQDC also unveiled the key points of its 2027–2029 Strategic Plan, which aims to strengthen the competitiveness of the legal market while complying with Quebec’s regulatory framework.

In particular, the company plans to modernize its store network, improve its digital platform, and expand its product offerings to better meet consumer expectations.

“During the 2025–2026 fiscal year, the SQDC demonstrated its ability to successfully carry out restructuring projects aimed at meeting the needs of its customers, while adhering to its legal framework and mission,” said Suzanne Bergeron, President and CEO of the SQDC.

For the public distributor, the challenge remains to continue guiding consumers toward the regulated market while upholding the public health objectives that have defined the Quebec model since the legalization of cannabis in Canada.