Canopy Growth Q4 FY2023 net loss $648M; FY revenue down 21%; BioSteel restated

Canopy Growth Corp

Net revenue FY2023 $403M down 21% YoY; Q4 net loss $648M, adjusted EBITDA loss $96M.
BioSteel revenue misstatements: FY2022 revenue reduced ~$10M; nine months FY2023 reduced ~$14M; remedial actions underway.
Debt reduced ~$500M from Q2 FY2023 to Q1 FY2024; facility divestitures expected up to $150M by end of Q2 FY2024.
Cost reduction targets $240-310M savings by end of FY2024; headcount reduction over 1,200 positions.
Modified CUSA structure for NASDAQ compliance; entered agreement with Indiva to distribute Wana in Canada.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Canopy Growth Corp reported financial results for fourth quarter and fiscal year ended March 31, 2023.

Period: fourth quarter and fiscal year ended March 31, 2023
Result: reported results

Exact text from the filing

On June 22, 2023, Canopy Growth Corporation issued a press release announcing its financial results for the fourth quarter ended March 31, 2023.

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10 earnings releases filed in the last 30 days. Browse all earnings releases →

Canopy Growth Corp filing history →

Source: SEC EDGAR

accession 0000950170-23-029444

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