(Smiths Falls) Canopy Growth posted a smaller loss for its fourth quarter on Friday than the same time last year, even though its net revenue fell 25%.
Posted at 11:17 a.m.
The cannabis producer said its net loss for the three months ended March 31 was $578.6 million, or $1.46 per share, which compared to a net loss of $616.7 million, or $1.85 per share, for the end of the previous fiscal year.
Canopy’s net revenue totaled $111.8 million, down from $148.4 million in the fourth quarter of last year.
Global net cannabis revenues fell to 66 million in the most recent quarter, from 101.3 million a year earlier.
Revenue from other consumer products reached 45.8 million, compared to 47.1 million a year ago.
Canopy CEO David Klein said the company will continue to focus on gaining market share in its key segments that will fuel its growth to profitability and continue to drive its brands forward in North America. North.