Canopy Growth Q2 FY2024 net revenue $69.6M, net loss $148.2M; gross margin 34%

Canopy Growth Corp

2023-Q2 EPS reported -$0.55 revenue$145,853,000

Net revenue $69.6M, down 21% YoY; net loss $148.2M improved 25% vs Q2 FY2023 loss.
Consolidated gross margin 34% vs (1%) a year ago; adjusted gross margin 33%.
Total debt reduced by $364M to $681M in Q2; cumulative ~$1B debt reduction since FY2023 start.
SEC staff objected to deconsolidation of Canopy USA; company assessing structural amendments.
Free cash flow from continuing operations $(67)M; Adjusted EBITDA loss $(12)M vs $(56)M YoY.

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 0.85

Canopy Growth Corp reported the second quarter ended September 30, 2023 results: revenue $69.6. Guidance reaffirmed.

Period: the second quarter ended September 30, 2023
Revenue: $69.6
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Summary (in millions of Canadian dollars, unaudited) Net Revenue Gross margin percentage Adjusted gross margin percentage 1 Net loss Adjusted EBITDA 2 Free cash flow 3 Reported $69.6 34% 33% $(148.2) $(11.9) $(67.1) vs. Q2 FY2023 (21%) 3,500 bps 2,800 bps 25% 79% 32% - 1 1 Adjusted gross margin is a non-GAAP measure, and for Q2 FY2024 excludes $(0.7) MM of

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Source: SEC EDGAR

accession 0000950170-23-062219

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