---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-062219"
form_type: "8-K"
ticker: "CGC"
cik: "0001737927"
company_name: "Canopy Growth Corp"
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:08:28.508994+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-062219
- form_type: 8-K
- ticker: CGC
- cik: 0001737927
- company_name: Canopy Growth Corp
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737927/000095017023062219/0000950170-23-062219-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737927/000095017023062219/cgc-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-062219
- JSON: https://secwatch.observer/filing/0000950170-23-062219.json
- Plain text: https://secwatch.observer/filing/0000950170-23-062219.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737927/000095017023062219/0000950170-23-062219-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.