(Smiths Falls) Canopy Growth reported a wider loss in its latest quarter compared with a year earlier. Its revenue also declined.
The cannabis producer says its loss was $127.1 million, or $1.60 per share, for the quarter ended June 30.
The company had posted a loss of $38.1 million in the same quarter in 2023, or 69 cents per share.
The company’s revenue for the first quarter of fiscal 2025 was $75.8 million, down from $88.6 million in the same quarter last year.
Net sales were $66.2 million, down from $76.3 million a year ago, mainly due to the impact of divested businesses.
Canopy Growth said its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the latest quarter was a loss of $5.3 million, compared with a loss of $23 million a year earlier.