Canopy Growth And Other Hot Cannabis Stocks Will Soon Report Earnings, What Investors Need To Know Now
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) will release its financial results for the first quarter of fiscal year 2025 ended June 30, 2024, before financial markets open on August 9, 2024.
An audio webcast with David Klein, CEO and Judy Hong, CFO will take place on August 9, at 10 am ET.
Canopy’s European Expansion
Canopy has been ramping up its presence in the Czech Republic as the country’s officials are considering a fully legal commercial adult-use cannabis market as part of its ‘Cannabis Management Act.’ Its medical brand is servicing other European markets like Poland and Germany as well, as well as Asia-Pacific markets, including Australia and New Zealand. That said, Canopy’s International markets cannabis net revenue increased 32% year-over-year to CA$12 million in the fourth quarter driven by growth in Germany and Poland.
On the heels of reporting its fourth quarter results for the fiscal year that ended March 31, 2024, Canopy CEO David Klein said the company will seize positive cannabis regulatory shifts in Germany and the United States, Klein added. “Entering FY2025, Canopy has growing businesses in the world’s most attractive cannabis markets, a leading portfolio of high-impact brands, and a rapidly developing U.S. ecosystem.”
In early June, Canopy said it has established an at-the-market equity program under which it can issue and sell up to $250 million worth of its common shares from treasury from time to time in concurrent public offerings in the United States and Canada. The announcement has generated significant buzz within the cannabis industry, as highlighted by Benzinga’s Javier Hasse at the time.
“We’re pleased to announce this …