On November 8, 2024, Canopy Growth Corporation, a leading cannabis company, reported its financial results for the second quarter of fiscal year 2025, which ended on September 30, 2024. The company announced a decrease in net revenue by 9% compared to the same quarter of the previous year, attributing the decline to divested businesses. However, excluding these divested businesses, net revenue saw a 3% increase. Canopy Growth's gross margin improved by 100 basis points to 35%, primarily due to cost savings and a shift towards higher-margin medical cannabis sales. The company's operating loss widened from $7 million in Q2 FY2024 to $46 million in Q2 FY2025, largely because the previous year's results benefited from the sale of a facility. Adjusted EBITDA loss improved by 54% year-over-year, and free cash flow...Show More

On November 8, 2024, Canopy Growth Corporation, a leading cannabis company, reported its financial results for the second quarter of fiscal year 2025, which ended on September 30, 2024. The company announced a decrease in net revenue by 9% compared to the same quarter of the previous year, attributing the decline to divested businesses. However, excluding these divested businesses, net revenue saw a 3% increase. Canopy Growth's gross margin improved by 100 basis points to 35%, primarily due to cost savings and a shift towards higher-margin medical cannabis sales. The company's operating loss widened from $7 million in Q2 FY2024 to $46 million in Q2 FY2025, largely because the previous year's results benefited from the sale of a facility. Adjusted EBITDA loss improved by 54% year-over-year, and free cash flow saw a 16% improvement. Canopy Growth's balance sheet was strengthened with a cash and short-term investments balance of $231 million as of September 30, 2024. The company's medical cannabis business in Canada and international markets showed growth, with net revenue increasing by 16% and 12%, respectively. Storz & Bickel, a subsidiary known for vaporizer technology, saw a 32% increase in net revenue. Canopy USA completed the acquisition of Wana Brands and is on track to close the acquisition of Acreage Holdings in the first half of 2025.