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Canopy Growth Corp CGC

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Canopy Continues to Narrow Losses in Q4; Shares Undervalued Again After Ongoing Price Decline

Analyst Note

| Kristoffer Inton |

Canopy Growth wrapped up its fiscal 2021 in March with continued top-line growth and narrower losses. During the fourth quarter, net revenue grew 38%, mostly from the Canadian recreational market and non-THC cannabis consumer products. Cannabis revenue was up 27%, an impressive feat given the challenges in the Canadian market amid pandemic restrictions. Many other Canadian producers reported much weaker top-line growth. Adjusted EBITDA losses narrowed 8% to CAD 84 million, as the company continues to manage its overhead expenses.

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Company Profile

Business Description

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Tweed, Spectrum Therapeutics, and CraftGrow. Although it primarily operates in Canada, Canopy has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis and also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.

Contact
1 Hershey Drive
Smiths Falls, ON, K7A 0A8, Canada
T +1 855 558-9333
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Mar 31, 2021
Fiscal Year End Mar 31, 2022
Stock Type —
Employees 3,259

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