Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 277

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 8
Chunk 277
---
 (4
    %)

    International markets cannabis3
     
    $
    32,166

    $
    29,666

    $
    2,500

    8
    %

    Storz & Bickel
     
    $
    56,315

    $
    48,517

    $
    7,798

    16
    %

    This Works
     
    $
    -

    $
    21,256

    $
    (21,256
    )

    (100
    %)

    Other

    -

    4,376

    (4,376
    )

    (100
    %)

    Net revenue
     
    $
    203,964

    $
    224,358

    $
    (20,394
    )

    (9
    %)

    1Reflects excise taxes of $25,755 and other revenue adjustments, representing our determination of returns and pricing adjustments, of $3,424 for the nine months ended December 31, 2024 (nine months ended December 31, 2023 - excise taxes of $31,596 and other revenue adjustments of $2,483).

    2 Reflects excise taxes of $6,266 for the nine months ended December 31, 2024 (nine months ended December 31, 2023 - $4,827).

    3 Reflects other revenue adjustments of $62 for the nine months ended December 31, 2024 (nine months ended December 31, 2023 - $454).

Net revenue was $204.0 million in the nine months ended December 31, 2024, a decrease of $20.4 million as compared to $224.4 million in the nine months ended December 31, 2023.

48

Canada cannabis

Net revenue from our Canada cannabis segment was $115.5 million in the nine months ended December 31, 2024, as compared to $120.5 million in the nine months ended December 31, 2023.

Canadian adult-use cannabis net revenue was $58.4 million in the nine months ended December 31, 2024, as compared to $71.8 million in the nine months ended December 31, 2023. The year-over-year decrease is primarily attributable to lower sales volumes, which were partially affected by supply constraints for certain products as a result