Focus on profitable revenue generation delivered 67% increase in gross profit year-over-year
Record quarter for Canada Medical Cannabis with Net Revenue increasing 20% year-over-year and 6th consecutive quarter of growth
Extended maturity of senior secured term loan to December 18, 2026 with an option to further extend to September 18, 2027
SMITHS FALLS, ON, Aug. 9, 2024 /PRNewswire/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC) today announces its financial results for the first quarter ended June 30, 2024 (“Q1 FY2025”). All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
Highlights
- Achieved Gross profit of $23MM in Q1 FY2025 representing a 67% increase over the first quarter ended June 30, 2023 (“Q1 FY2024”), despite a decline in consolidated net revenue.
- Delivered consolidated gross margin of 35%, and Canada cannabis segment…
