Summary by Moomoo AI
Canopy Growth Corporation reported Q1 fiscal 2025 financial results with net revenue declining 13% year-over-year to $66.2 million, while gross margin improved to 35% from 18%. The company recorded a net loss from continuing operations of $129.2 million, compared to a $10.6 million loss in Q1 fiscal 2024. The increased loss was primarily driven by non-cash fair value changes in financial instruments.The Canada cannabis segment revenue decreased 6% to $37.7 million, with adult-use cannabis down 22% to $18.9 million due to supply constraints and price competition. However, medical cannabis revenue grew 20% to $18.8 million. International markets cannabis revenue remained stable at $10.1 million, while Storz & Bickel revenue increased 2% to $18.5 million.The company strengthened its balance sheet through several initiatives including exchanging $81.2 million of promissory notes into exchangeable shares, raising $68.3 million through a convertible debenture offering, and establishing a $250 million ATM program. Canopy Growth also completed the deconsolidation of Canopy USA as of April 30, 2024 and extended its credit facility maturity to December 2026.
