Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 188

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 2
Chunk 188
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 that the free cash flow measure provides meaningful information regarding our liquidity requirements.

The following table presents free cash flows for the three and nine months ended December 31, 2024, and 2023:

    Three months ended December 31,

    Nine months ended December 31,

    (in thousands of Canadian dollars)
     
    2024

    2023

    2024

    2023

    Net cash used in operating activities - continuing   operations
     
    $
    (26,966
    )
     
    $
    (33,348
    )
     
    $
    (132,598
    )
     
    $
    (205,961
    )

    Purchases of and deposits on property, plant   and equipment - continuing operations

    (1,215
    )

    (564
    )

    (7,724
    )

    (3,200
    )

    Free cash flow1 - continuing operations
     
    $
    (28,181
    )
     
    $
    (33,912
    )
     
    $
    (140,322
    )
     
    $
    (209,161
    )

    1Free cash flow is a non-GAAP measure, and is calculated as net cash provided by (used in) operating activities, less purchases of and deposits on property, plant and equipment.

Free cash flow in the three months ended December 31, 2024 was an outflow of $28.2 million, as compared to an outflow of $33.9 million in the three months ended December 31, 2023. The year-over-year decrease in the free cash outflow primarily reflects the decrease in cash used in operating activities, as described above.

Free cash flow in the nine months ended December 31, 2024 was an outflow of $140.3 million, as compared to an outflow of $209.2 million in the nine months ended December 31, 2023. The year-over-year decrease in the free cash outflow primarily reflects the decrease in cash used in operating activities, as described above.

Debt

Since our formation, we have financed our cash requirements primarily through the issuance of common shares of Canopy Growth, including the $5.1 billion investment by CBI in the third quarter of fiscal 2019, and debt. Total debt outstanding as of December 31, 2024 was $441