Categories AlphaGraphs, Cannabis, Earnings

Infographic: Highlights of Canopy Growth (CGC) Q4 2020 earnings results

Canopy Growth Corporation (NYSE: CGC) reported its financial results for the quarter ended March 31, 2020, on Friday before the market opens. The bottom-line was wider than the analysts’ expectations while the top-line missed consensus estimates.

The company posted a wider loss in the fourth quarter of 2020 due to impairment and restructuring charges. The top-line increased by 15% year-over-year backed by higher revenue from Canadian medical and International medical segments despite lower revenue from Canadian recreational revenue.

Canopy Growth (CGC) Q4 2020 earnings

Canopy Growth expects fiscal 2021 to be a transition year as the company resets its strategic focus, rolls out a new organizational design, and implements a comprehensive operational and supply chain productivity program. Given this, as well as the significant COVID-19 related uncertainties that exist, the company is withdrawing its previously communicated milestones for achieving positive adjusted EBITDA and net income.

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