Canopy Growth Corp

Listed Company

CGCCIK 0001737927NasdaqAcceleratedMedicinal Chemicals & Botanical ProductsZ4CAFY ends Mar 31

Period

FY 2025

Revenue

$269.00M

Net Income

$-598.12M

Total Assets

$917.70M

Equity

$487.21M

Shares Out

377.86M

Op. Cash Flow

$-165.75M

Business

Canopy Growth Corp produces, distributes and sells a diverse range of cannabis and cannabis-related products for adult-use and medical purposes. Its product offerings include high-quality dried flower, pre-rolled joints, oils, softgel capsules, edibles (including gummies), extracts and industry-leading vaporizer devices and accessories. The company reports results across four reportable segments: Canada cannabis, International markets cannabis, Storz & Bickel (vaporizer devices), and formerly This Works (wellness products). It operates principally in Canada, Germany and Australia, sells medical products direct-to-patient via e-commerce and supplies adult-use products through provincial/territorial retail distribution systems, and holds a non-controlling interest in Canopy USA for U.S. market exposure.

Summary from filing dated 2025-05-30

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Revenue	314	344	381	538	607
Excise taxes	45	47	48	62	61
Net revenue	269	297	333	476	547
Cost of goods sold	189	216	397	663	480
Gross margin	80	81	−64	−187	67
Selling, general and administrative expenses	170	229	343	415	575
Share-based compensation	−4	14	25	47	91
Loss on asset impairment and restructuring	31	66	2,199	369	—
Total operating expenses	197	310	2,567	831	1,310
Operating loss from continuing operations	−117	−229	−2,631	−1,019	−1,243
Other income (expense), net	−480	−243	−456	751	−388
Loss from continuing operations before income taxes	−597	−471	−3,086	−268	−1,684
Income tax (expense) recovery	−7	−12	6	9	13
Net loss from continuing operations	−604	−484	−3,080	−259	—
Discontinued operations, net of income tax	6	−192	−229	−72	—
Net loss	−598	−676	−3,310	−331	−1,671
Net loss from continuing operations attributable to noncontrolling interests and redeemable noncontrolling interest	—	—	−2	−4	74
Net loss from discontinued operations attributable to noncontrolling interests and redeemable noncontrolling interest	—	−19	−29	−16	—
Net loss attributable to Canopy Growth Corporation	−598	−657	−3,278	−310	−1,745
Basic loss per share continuing operations	−5.62	−6.47	−66.39	−6.5	—
Diluted loss per share continuing operations	−5.62	−6.47	−66.39	−6.5	—
Basic loss per share discontinued operations	0.06	−2.32	−4.3	−1.42	—
Diluted loss per share discontinued operations	0.06	−2.32	−4.3	−1.42	—
Basic loss per share	−5.56	−8.79	−70.69	−7.92	−4.69
Diluted loss per share	−5.56	−8.79	−70.69	−7.92	−4.69
Basic weighted average common shares outstanding	108	75	46	39	372
Diluted weighted average common shares outstanding	108	75	46	39	372
Fair value changes of own credit risk of financial liabilities	0	−12	31	21	−100
Foreign currency translation	13	−917,000	27	−45	−155
Total other comprehensive income (loss), net of income tax	13	−13	58	−24	−255
Comprehensive loss from continuing operations	−591	−497	−3,023	−283	—
Comprehensive income (loss) from discontinued operations	6	−192	−229	−72	—
Comprehensive loss	−585	−689	−3,252	−355	−1,926
Comprehensive loss from continuing operations attributable to noncontrolling interests and redeemable noncontrolling interest	—	—	−2	−4	—
Comprehensive loss from discontinued operations attributable to noncontrolling interests and redeemable noncontrolling interest	—	−19	−29	−16	—
Comprehensive loss attributable to Canopy Growth Corporation	−585	−671	−3,220	−334	−2,000

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-12-31	FY 2022 2022-09-30
Cash and cash equivalents	114	170	668	—	—
Short-term investments	18	33	106	—	—
Restricted short-term investments	6	7	12	—	—
Amounts receivable, net	53	52	68	82	82
Inventory	96	77	83	214	212
Assets of discontinued operations	0	8	116	—	—
Prepaid expenses and other assets	8	23	24	52	63
Total current assets	295	371	1,077	1,150	1,513
Other investments	180	438	—	—	—
Property, plant and equipment	294	320	471	—	—
Intangible assets	87	104	161	—	—
Goodwill	46	43	86	85	79
Other assets	16	24	20	—	—
Total assets	918	1,300	2,440	2,939	3,319
Accounts payable	26	29	32	—	—
Other accrued expenses and liabilities	39	54	54	—	—
Current portion of long-term debt	4	104	557	—	—
Other liabilities	25	48	94	85	80
Total current liabilities	94	235	804	679	559
Long-term debt	300	493	750	—	—
Other liabilities	36	72	122	—	—
Total liabilities	430	800	1,680	1,581	1,754
Commitments and contingencies	—	—	—	—	—
Common shares - $nil par value; Authorized - unlimited; Issued and outstanding - 183,865,295 shares and 91,115,501 shares, respectively. Exchangeable shares - $nil par value; Authorized - unlimited; Issued and outstanding - 26,261,474 shares and nil shares, respectively.	8,796	8,244	7,939	—	—
Additional paid-in capital	2,618	2,602	2,506	2,534	2,538
Accumulated other comprehensive loss	535,000	−16	−14	—	—
Deficit	−10,928	−10,330	−9,673	−9,033	−8,773
Total Canopy Growth Corporation shareholders' equity	487	500	758	1,355	1,549
Noncontrolling interests	0	139,000	2	—	—
Total shareholders' equity	487	501	760	1,358	1,552
Total liabilities and shareholders' equity	918	1,300	2,440	2,939	3,319

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Depreciation of property, plant and equipment	22	28	56	76	71
Amortization of intangible assets	22	25	24	35	56
Share-based compensation	−4	14	25	47	91
Loss on asset impairment and restructuring	20	54	2,171	333	—
Non-cash fair value adjustments and charges related to settlement of long-term debt	413	160	354	—	—
Amounts receivable	−4	−4	6	16	−12
Inventory	−18	1	68	204	23
Prepaid expenses and other assets	6	−2	13	28	77,000
Accounts payable and accrued liabilities	−15	9	−28	−43	17
Other, including non-cash foreign currency	−9	−43	3	−7	−90
Net cash used in operating activities - continuing operations	−166	−228	−394	−446	—
Net cash used in operating activities - discontinued operations	—	−54	−163	−100	—
Net cash used in operating activities	−166	−282	−558	−546	−466
Purchases of and deposits on property, plant and equipment	−11	−3	−9	−37	−165
Purchases of intangible assets	−467,000	−547,000	−1	−11	−10
Proceeds on sale of property, plant and equipment	5	154	14	27	46
Redemption of short-term investments	16	79	503	546	−460
Net cash (outflow) inflow on sale or deconsolidation of subsidiaries	−7	−955,000	15	—	—
Net cash inflow on loan receivable	30	—	—	—	—
Investment in other financial assets	−95	−347,000	−67	−379	−45
Other investing activities	—	−8	4	−18	−7
Net cash (used in) provided by investing activities - continuing operations	−62	220	457	231	—
Net cash provided by (used in) investing activities - discontinued operations	14	22	−24	−19,000	—
Net cash (used in) provided by investing activities	−48	242	433	231	−884
Proceeds from issuance of common shares and warrants	385	81	1	3	0
Proceeds from exercise of stock options	112,000	—	281,000	6	157
Proceeds from exercise of warrants	8	—	—	0	245
Issuance of long-term debt and convertible debentures	68	—	135	0	893
Repayment of long-term debt	−100	−510	−118	−51	−16
Other financing activities	−25	−36	−38	−3	−15
Net cash provided by (used in) financing activities	149	−465	−20	−46	1,265
Effect of exchange rate changes on cash and cash equivalents	8	−1	45	−18	−63
Net decrease in cash and cash equivalents	−56	−507	−99	−379	−149
Income taxes	128,000	6	6	1	4
Interest	9	18	29	16	26
Income taxes	783,000	2	1	3	23
Interest	65	98	132	119	26
Additions to property, plant and equipment	426,000	106,000	38,000	1	10

Filings

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