Categories AlphaGraphs, Cannabis, Earnings
Earnings: A snapshot of Canopy Growth’s (CGC) Q4 2023 results
Cannabis producer Canopy Growth Corporation (NASDAQ: CGC) reported a net loss for the fourth quarter of 2023 when its revenues decreased by 14%.
For the three months that ended March 2023, the company reported a net loss of C$640.1 million or C$1.28 per share, compared to a loss of C$582.5 million or C$1.48 per share in the same period of the previous year.
The bottom line was negatively impacted by a 14% decrease in revenues to C$87.5 million. Looking ahead, the management expects to achieve breakeven-to-positive adjusted EBITDA across all business segments, with the exception of BioSteel, by the end of FY2024.
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