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Canopy Growth (CGC) Q1 2021 earnings in a nutshell

Canopy Growth (NYSE: CGC) reported an improvement in net loss for its first quarter ended 2021 with a revenue increase of 22%. Net loss attributable to Canopy Growth shrank to C$108.5 million in Q1 from C$185.9 million in the first quarter of 2020. On a per-share basis, net loss improved to C$0.30 a share from a loss of C$0.54 a share in the prior-year quarter.

CGC shares jumped about 10% in the pre-market trading session.

Revenue rose to C$110 million in the first quarter compared to C$90.5 million in Q1 2020. The increase was driven by higher medical cannabis sales in Canada and Germany, strong vaporizer sales and the benefit of a full quarter of contribution from acquired businesses C3 and This Work.

Looking forward to read what management and analysts discuss on quarterly results? Stay tuned here for Canopy Growth Q1 2021 earnings call transcript

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