Fri, Nov 8, 11:47 AM (132 days ago)
Canopy Growth Corporation (CGC) reported a net revenue of CAD 62,991,000 for Q2 2025, reflecting a 9% decline from CAD 69,595,000 in Q2 2024. The decrease was driven by lower sales in the Canadian adult-use segment, down 24%, partially offset by an 11% increase in medical cannabis revenue. Gross margin improved to 35%, up from 34% YoY, primarily due to better performance in international markets. The company recorded a net loss from continuing operations of CAD 131,550,000, an 11% improvement from CAD 148,162,000. The loss included CAD 20,830,000 in asset impairment and restructuring costs. Adjusted EBITDA loss decreased from CAD 34,842,000 to CAD 10,787,000, indicating operational improvements. Cash and cash equivalents rose to CAD 228,416,000 from CAD 170,300,000, bolstered by an equity program that generated CAD 138,476,000. Canopy Growth continues to face liquidity challenges, with total debt decreasing to CAD 553,850,000 from CAD 597,229,000. The company is evaluating further financing options amid ongoing restructuring efforts and market uncertainties.