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Canopy Growth Corp Records 3rd Quarter Revenue of $21.7M

  • Canopy recorded a quarterly revenue of $21.7 million, the highest ever reported in Canadian cannabis sector.
  • Quarterly sales of $1 million Germany , all from domestic Canadian production.
  • Raised$245 million in landmark deal with Fortune 500 company Constellation Brands and subsequent $201 million bought deal financing including the first co-led by a major bank, BMO Capital Markets
    Only cannabis company to secure multi-year supply agreements with four provincial entities; multi-year commitments from Canopy totaling up to 25,000 kilograms per year.
  • Registered patient growth of 138% and revenue growth of 123%.
  • Secured four retail license allocations inNewfoundland and Labrador, locations represent first announced privately owned and operated legal cannabis retail locations in Canada.
  • International production licenses announced inDenmark and Jamaica (provisional), bringing number of global licensed facilities to 100
  • Approximately$400 million cash on hand to fund domestic and global expansion

 

Canopy Growth Corp is traded on the TSX under the Ticker Symbol WEED

Financial Highlights

Q3 2018 Q2 2018 % Change Q3 2017 % Change
Active registered patients 69,000 63,000 10% 29,000 138%
Kilograms and kilogram equivalents sold 2,330 2,020 15% 1,245 87%
Kilograms harvested 7,961 4,167 91% 5,264 51%
Inventory & Biological Assets (millions) $108 $97 11% $56 93%
Revenues (millions) $21.7 $17.6 23% $9.8 123%
Average selling price per gram $8.30 $7.99 4% $7.36 13%
Cost per gram to point of harvest 1 $0.59 $0.72 -18% $0.87 -32%
Cost per gram before shipping and fullfillment 1 $1.03 $1.25 -18% $1.70 -39%
Cash and Cash Equivalents (millions)2 $238 $108 121% $93 156%

 

Link to the Press Release

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