Canopy Growth’s Second-Quarter Loss Widens to C$40.7 Million

Canopy Growth’s fiscal second-quarter revenue rose 22% as international cannabis sales more than doubled, but C$35.8 million in fair-value charges tied to its U.S. business pushed the company’s net loss sharply higher.

Today, 16:57· Money Talk· 46 reads

Canopy Growth’s Second-Quarter Loss Widens to C$40.7 Million

For the three months ended Sept. 30, the cannabis company reported a net loss of C$40.7 million, or C$0.10 a share, compared with C$5 million, or C$0.02 a share, a year earlier. Analysts surveyed by FactSet had expected a loss of C$0.04 a share.

Consolidated revenue increased to C$81.4 million, below analysts’ forecast of C$90.1 million. Cannabis revenue climbed 30% to C$66.2 million, with growth across its medical, adult-use and international categories. International sales more than doubled, led by strong medical sales in Germany and Poland.

Revenue from Storz & Bickel, Canopy’s vaporizer and device segment, fell 4% to C$15.1 million amid softer consumer spending.

Canopy Growth’s Second-Quarter Loss Widens to C$40.7 Million

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