Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) announced its financial results for Q4 quarter ended March 31st, 2023 yesterday. All financial information below is reported in Canadian dollars unless otherwise indicated, and compared to the previous quarter.
Q4 Financial Highlights
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Canadian: DOWN 4.9% to $37.1M
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As a % of Net Revenue: UP to 51.0% from 49.7%
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Recreational: DOWN 11.1% to $20.8M
- As a % of Net Revenue: DOWN to 28.6% from 29.8%
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Medical: UP 4.5% to $16.3M
- As % of Net Revenue: UP to 22.4% from 19.9%
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International: UP 10.5% to $11.6M
- As % of Net Revenue: UP to 15.9% from 13.4%
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Recreational: DOWN 11.1% to $20.8M
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As a % of Net Revenue: UP to 51.0% from 49.7%
- As a % of Net Revenue: UP to 66.9% from 63.1%
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As a % of Net Revenue: UP to 33.1% from 26.5%
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Storz & Bickel (vaporizers): UP 20.0% to $22.2M
- As a % of Net Revenue: UP to 30.5% from 23.6%
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Other: DOWN 17.4% to $1.9M
- As a % of Net Revenue: DOWN to 2.6% from 2.9%
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Storz & Bickel (vaporizers): UP 20.0% to $22.2M
- As a % of Net Revenue: Increased to (20.7)% from (11.5)%
Q4 Operational Highlights
Management Commentary
David Klein, Chief Executive Officer, said:“…Entering FY2025, Canopy has growing businesses in all of the world’s most attractive cannabis markets, a leading portfolio of high-impact brands, and a rapidly developing U.S. ecosystem.”Judy Hong, Chief Financial Officer, said:“…With no material debt maturing until 2026, Canopy is equipped to capitalize on growth opportunities and enhance shareholder value.”
Stock Performance
Canopy Growth’s stock price went UP 69% in Q4 (ending March 31st, 2024) and has ended May relatively unchanged.More By This Author:What Is Adjusted EBITDA? Here’s How The Largest Cannabis Companies Compare
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