Canopy Growth Corp

For the period ended Dec 31, 2023. Filed Feb 9, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 31, 2023 · Filed Feb 9, 2024

CGC$0.59-4.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF

OPERATIONS AND COMPREHENSIVE LOSS

(in thousands of Canadian dollars, except number of shares and per share data, unaudited)

	Three months ended December 31,		Nine months ended December 31,
	2023	2022	2023	2022
(As Restated) · (As Restated)
Revenue	$90,061	$96,986	$260,781	$302,397
Excise taxes	11,556	12,136	36,423	37,379
Net revenue	78,505	84,850	224,358	265,018
Cost of goods sold	50,279	79,622	158,944	264,226
Gross margin	28,226	5,228	65,414	792
Operating expenses
Selling, general and administrative expenses	54,436	89,604	174,810	271,425
Share-based compensation	3,693	6,055	10,127	20,893
Loss on asset impairment and restructuring	30,413	22,259	2,452	1,794,212
Total operating expenses	88,542	117,918	187,389	2,086,530
Operating loss from continuing operations	(60,316)	(112,690)	(121,975)	(2,085,738)
Other income (expense), net	(171,037)	(115,490)	(253,270)	(396,074)
Loss from continuing operations before income taxes	(231,353)	(228,180)	(375,245)	(2,481,812)
Income tax recovery (expense)	1,077	1,336	(13,762)	(10,633)
Net loss from continuing operations	(230,276)	(226,844)	(389,007)	(2,492,445)
Discontinued operations, net of income tax	13,479	(37,532)	(194,451)	(169,492)
Net loss	(216,797)	(264,376)	(583,458)	(2,661,937)
Net loss from continuing operations attributable to noncontrolling interests and redeemable noncontrolling interest	-	(542)	-	(1,336)
Discontinued operations attributable to noncontrolling interests and redeemable noncontrolling interest	-	(4,369)	(18,526)	(22,523)
Net loss attributable to Canopy Growth Corporation	$(216,797)	$(259,465)	$(564,932)	$(2,638,078)
Continuing operations	$(2.78)	$(4.66)	$(5.56)	$(54.96)
Discontinued operations	0.16	(0.68)	(2.52)	(3.24)
Basic and diluted loss per share	$(2.62)	$(5.34)	$(8.08)	$(58.20)
Basic and diluted weighted average common shares outstanding1	82,919,190	48,611,260	69,918,744	45,323,788
Comprehensive income (loss):
Net loss from continuing operations	$(230,276)	$(226,844)	$(389,007)	$(2,492,445)
Other comprehensive income (loss), net of income tax
Fair value changes of own credit risk of financial liabilities	(1,354)	4,538	(13,824)	32,847
Foreign currency translation	10,104	14,921	575	24,694
Total other comprehensive income (loss), net of income tax	8,750	19,459	(13,249)	57,541
Comprehensive loss from continuing operations	(221,526)	(207,385)	(402,256)	(2,434,904)
Comprehensive income (loss) from discontinued operations	13,479	(37,532)	(194,451)	(169,492)
Comprehensive loss	(208,047)	(244,917)	(596,707)	(2,604,396)
Comprehensive loss from continuing operations attributable to noncontrolling interests and redeemable noncontrolling interest	-	(542)	-	(1,336)
Comprehensive loss from discontinued operations attributable to noncontrolling interests and redeemable noncontrolling interest	-	(4,369)	(18,526)	(22,523)
Comprehensive loss attributable to Canopy Growth Corporation	$(208,047)	$(240,006)	$(578,181)	$(2,580,537)

1 Prior year share and per share amounts have been retrospectively adjusted to reflect the Share Consolidation, which became effective on December 15, 2023. See Note 2 for details.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.