Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 180

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 2
Chunk 180
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 EBITDA provides meaningful and useful financial information, as this measure demonstrates the operating performance of businesses.

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

    Nine months ended December 31,

    (in thousands of Canadian dollars)
     
    2024

    2023

    $ Change

    % Change

    Net loss from continuing operations
     
    $
    (382,637
    )
     
    $
    (389,007
    )
     
    $
    6,370

    2
    %

    Income tax expense

    6,812

    13,762

    (6,950
    )

    (51
    %)

    Other (income) expense, net

    276,952

    253,270

    23,682

    9
    %

    Share-based compensation

    14,531

    10,127

    4,404

    43
    %

    Acquisition, divestiture, and other costs

    16,300

    24,373

    (8,073
    )

    (33
    %)

    Depreciation and amortization

    31,651

    41,881

    (10,230
    )

    (24
    %)

    Loss on asset impairment and restructuring

    22,135

    2,452

    19,683

    803
    %

    Restructuring costs recorded in cost of goods sold

    -

    (689
    )

    689

    100
    %

    Adjusted EBITDA
     
    $
    (14,256
    )
     
    $
    (43,831
    )
     
    $
    29,575

    67
    %

The Adjusted EBITDA loss in the nine months ended December 31, 2024 was $14.3 million, as compared to an Adjusted EBITDA loss of $43.8 million in the nine months ended December 31, 2023. The year-over-year decrease in Adjusted EBITDA loss is primarily attributable to the year-over-year increase in our gross margin and the year-over-year decrease in our selling, general and administrative expenses.

Part 3 – Financial Liquidity and Capital Resources

The