Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 160

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 2
Chunk 160
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024

    9,004

    4,020

    45
    %

     Gross margin

    8,985

    9,449

    (464
    )

    (5
    %)

     Gross margin percentage

    41
    %

    51
    %

    (1,000) bps

     This Works segment

     Revenue
     
    $
    -

    $
    8,165

    $
    (8,165
    )

    (100
    %)

     Cost of goods sold

    -

    3,912

    (3,912
    )

    (100
    %)

     Gross margin

    -

    4,253

    (4,253
    )

    (100
    %)

     Gross margin percentage

    -
    %

    52
    %

    (5,200) bps

     Other

     Revenue
     
    $
    -

    $
    976

    $
    (976
    )

    (100
    %)

     Cost of goods sold

    -

    1,950

    (1,950
    )

    (100
    %)

     Gross margin

    -

    (974
    )

    974

    100
    %

     Gross margin percentage

    -
    %

    (100
    %)

    10,000 bps

Canada cannabis

Gross margin for our Canada cannabis segment was $10.2 million in the third quarter of fiscal 2025, or 25% of net revenue, as compared to $11.3 million in the third quarter of fiscal 2024, or 28% of net revenue. The year-over-year decrease in the gross margin percentage was primarily attributable to lower adult-use sales and costs related to new product launches, partially offset by increased sales in higher-margin medical business.

International markets cannabis

Gross margin for our international markets cannabis segment was $4.9 million in the third quarter of fiscal 2025, or 41% of net revenue, as compared to $4.2 million in the third quarter of fiscal 2024, or 40% of net revenue. The year-over-year increase in the gross margin percentage is primarily attributable to the shift in sales mix to higher-margin Poland.

Storz & Bickel