SMITHS FALLS, Ont. – Canopy Growth Corp. posted a larger loss in its latest quarter compared with a year ago as its revenue declined.
The cannabis producer says its loss attributable to the company amounted to $127.1 million or $1.60 per diluted share for the quarter ended June 30.
The result compared with a loss of $38.1 million or 69 cents per diluted share a year earlier.
Revenue for the first quarter of the company’s 2025 financial year totalled $75.8 million, down from $88.6 million in the same quarter last year.
Net revenue was $66.2 million, down from $76.3 million, mostly due to the impact of divested businesses.
Canopy says its adjusted earnings before interest, taxes, depreciation and amortization amounted to a loss of $5.3 million in its latest quarter compared with a loss of $23 million a year earlier.
This report by The Canadian Press was first published Aug. 9, 2024.
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