Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 293

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 8
Chunk 293
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 cash used in operating activities from discontinued operations of $nil and $(53,930) for the nine months ended December 31, 2024 and 2023, respectively.

    2 Includes net cash provided by (used in) investing activities from discontinued operations of $13,414 and $(2,600) for the nine months ended December 31, 2024 and 2023, respectively.

    3 Includes cash of our discontinued operations of $nil and $9,314 for March 31, 2024 and 2023, respectively.

    4 Includes cash of our discontinued operations of $nil and $nil for December 31, 2024 and 2023, respectively.

Operating activities

Cash used in operating activities totaled $132.6 million in the nine months ended December 31, 2024, as compared to cash used of $259.9 million in the nine months ended December 31, 2023. The decrease in the cash used in operating activities is primarily due to: (i) the year-over-year decrease in our working capital spending, resulting from our previously-noted restructuring actions and cost savings programs, including the closure of certain of our Canadian facilities and other operational changes to implement cultivation-related efficiencies and improvements in the Canadian adult-use cannabis business; and (ii) a reduction in the cash interest paid resulting from a reduction in our debt balances.

Investing activities

The cash used in investing activities totaled $46.8 million in the nine months ended December 31, 2024, as compared to cash provided of $202.1 million in the nine months ended December 31, 2023.

In the nine months ended December 31, 2024, purchases of property, plant and equipment were $7.7 million, primarily related to building improvements and production equipment enhancements made at certain of our Canadian cultivation and production facilities. Comparatively, in the nine months ended December 31, 2023, we invested $3.2 million in production equipment enhancements made at certain of our Canadian cultivation and production facilities, and at our Storz & Bickel facilities.

In the nine months ended December 31, 2024, our strategic investments in other financial assets were $95.3 million and related primarily to the cash payment to acquire the outstanding principal, including all accrued and unpaid interest thereon, of Acreage’s debt, being an amount up to US$150.0 million (the “Acreage Debt”). Compar