News Business
Canopy Growth reports Q4 loss, revenue up 40% from last year

Canopy Growth Corp. reported a loss in its latest quarter as it revenue grew nearly 40 per cent compared with a year ago.

The cannabis company says its net loss attributable to the corporation totalled nearly $700 million or $1.85 per diluted share for the quarter ended March 31.

The result compared with a loss of $1.3 billion or $3.72 per diluted share in the same quarter last year.

Net revenue in what was the fourth quarter of Canopy’s financial year grew to $148.4 million, up from $107.9 million a year earlier.

The increase came as net revenue from Canadian recreational cannabis rose to $61.1 million compared with $43.9 million a year ago, while medical cannabis and other net revenue rose to $40.2 million compared with $35.6 million last year.

Canopy reported revenue from other consumer products totalled $47.1 million, up from $28.4 million a year ago.