Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 275

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 8
Chunk 275
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 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 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