Canopy Growth Corporation (CGC), a leading cannabis company, reported a net revenue of $297.1 million for the fiscal year 2024, a decrease of 11% from the previous year's $333.3 million. The company's gross margin improved significantly to 27% from a negative 19% in the prior year, reflecting cost-saving measures and strategic business changes. Despite this, Canopy Growth experienced a net loss from continuing operations of $483.7 million, though this was an 84% improvement from the previous year's loss of $3.1 billion. Basic and diluted loss per share from continuing operations was $6.47, compared to $66.39 in the prior year. The company's business development focused on its core operations in Canada, Europe, and Australia, with a significant non-controlling interest in the U.S. market. Canopy Growth...Show More

Canopy Growth Corporation (CGC), a leading cannabis company, reported a net revenue of $297.1 million for the fiscal year 2024, a decrease of 11% from the previous year's $333.3 million. The company's gross margin improved significantly to 27% from a negative 19% in the prior year, reflecting cost-saving measures and strategic business changes. Despite this, Canopy Growth experienced a net loss from continuing operations of $483.7 million, though this was an 84% improvement from the previous year's loss of $3.1 billion. Basic and diluted loss per share from continuing operations was $6.47, compared to $66.39 in the prior year. The company's business development focused on its core operations in Canada, Europe, and Australia, with a significant non-controlling interest in the U.S. market. Canopy Growth's portfolio includes a variety of cannabis products sold under multiple brands for both adult-use and medical purposes. The company's cultivation operations are centered in Ontario and British Columbia, with the Kincardine facility receiving EU GMP certification to export medical cannabis. Canopy Growth's future plans involve building a North American Cannabis Powerhouse of Brands, delivering best-in-class service, leveraging an asset-light model, and maintaining leadership in medical cannabis worldwide. The company's financial liquidity was bolstered by several debt and equity financings, including a US$35 million private placement and a US$50 million exchange and subscription agreement.