Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 75

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 1
Chunk 75
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 December 31, 2024 and 2023:

    Three months ended December 31,

    (in thousands of Canadian dollars)
     
    2024

    2023

    $ Change

    % Change

     Operating expenses

     General and administrative
     
    $
    16,984

    $
    24,046

    $
    (7,062
    )

    (29
    %)

     Sales and marketing

    15,445

    18,326

    (2,881
    )

    (16
    %)

     Acquisition, divestiture, and other costs

    3,036

    4,981

    (1,945
    )

    (39
    %)

     Depreciation and amortization

    6,011

    7,083

    (1,072
    )

    (15
    %)

     Selling, general and administrative expenses

    41,476

    54,436

    (12,960
    )

    (24
    %)

     Share-based compensation expense

    5,159

    3,693

    1,466

    40
    %

     Loss on asset impairment and restructuring

    1,285

    30,413

    (29,128
    )

    (96
    %)

     Total operating expenses
     
    $
    47,920

    $
    88,542

    $
    (40,622
    )

    (46
    %)

Selling, general and administrative expenses

Selling, general and administrative expenses were $41.5 million in the third quarter of fiscal 2025, as compared to $54.4 million in the third quarter of fiscal 2024.

General and administrative expense was $17.0 million in the third quarter of fiscal 2025, as compared to $24.0 million in the third quarter of fiscal 2024. The year-over-year decrease is primarily attributable to: (i) the divestiture of This Works on December 18, 2023 and (ii) the impact of the restructuring actions and cost savings program initiated in the fourth quarter of fiscal 2023.

Sales and marketing expense was $15.4 million in the third quarter of fiscal 2025, as compared to $