Canopy Growth: Q2 Net Revenue Drops 9% YoY, Projects Positive Earnings Ahead
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced its financial results on Friday for the second quarter of fiscal 2025, which ended Sept. 30, 2024.
The Canadian cannabis giant reported a 9% year-over-year decrease in net revenue to CA$63 million ($45.4 million). Canopy said excluding net revenue from businesses divested during the prior fiscal year, net revenue increased 3%.
David Klein, the company’s CEO, said the company “delivered a solid second quarter led by strong growth across our Storz & Bickel, Canadian medical, and European cannabis businesses,” adding Canopy is “well positioned to accelerate momentum in the second half of our fiscal year.”
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Q2 2025 Financial Highlights
- Canada’s cannabis net revenue was CA$37 million, representing a decrease of 8% year over year. Canada’s medical cannabis net revenue increased 16% over the same period, while Canada’s adult-use cannabis declined 24%, in part due to an interruption in the supply of Wana edibles.
- International market’s net revenue was CA$10 million, representing an increase of 12% year over …