Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 81

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 1
Chunk 81
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 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 EBITDA loss of $9.0 million in the third quarter of fiscal 2024. The year-over-year decrease in Adjusted EBITDA loss is primarily attributable to the year-over-year decrease in our selling, general and administrative expenses.

Discussion of Results of Operations for the Nine Months Ended December 31, 2024

    Nine months ended December 31,

    (in thousands of Canadian dollars, except share amounts and      where otherwise indicated)
     
    2024

    2023

    $ Change

    % Change

    Selected consolidated financial information:

    Net revenue
     
    $
    203,964

    $
    224,358

    $
    (20,394
    )

    (9
    %)

    Gross margin percentage

    34
    %

    29
    %

    -

    500 bps

    Net loss