Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 167

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 2
Chunk 167
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 method investments; share-based compensation expense; depreciation and amortization expense; asset impairment and restructuring costs; restructuring costs recorded in cost of goods sold; and charges related to the flow-through of inventory step-up on business combinations, and further adjusted to remove acquisition, divestiture, and other costs. Asset impairments related to periodic changes to our supply chain processes are not excluded from Adjusted EBITDA given their occurrence through the normal course of core operational activities. Accordingly, management believes that Adjusted EBITDA provides meaningful and useful financial information, as this measure demonstrates the operating performance of businesses.

47

The following table presents Adjusted EBITDA for the three months ended December 31, 2024 and 2023:

    Three months ended December 31,

    (in thousands of Canadian dollars)
     
    2024

    2023

    $ Change

    % Change

    Net loss from continuing operations
     
    $
    (121,896
    )
     
    $
    (230,276
    )
     
    $
    108,380

    47
    %

    Income tax expense (recovery)

    316

    (1,077
    )

    1,393

    129
    %

    Other (income) expense, net

    97,758

    171,037

    (73,279
    )

    (43
    %)

    Share-based compensation

    5,159

    3,693

    1,466

    40
    %

    Acquisition, divestiture, and other costs

    3,595

    4,981

    (1,386
    )

    (28
    %)

    Depreciation and amortization

    10,314

    12,240

    (1,926
    )

    (16
    %)

    Loss on asset impairment and restructuring

    1,285

    30,413

    (29,128
    )

    (96
    %)

    Adjusted EBITDA
     
    $
    (3,469
    )
     
    $
    (8,989
    )
     
    $
    5,520

    61
    %

The Adjusted EBITDA loss in the third quarter of fiscal 2025 was $3.5 million, as compared to an Adjusted E