E Canopy Growth Q1 2022 Financials Are Going In The Wrong Direction

Canopy Growth Inc. (CGC), a constituent in the munKNEE Pure-Play Pot Stock Index, reported its financial results for the first quarter fiscal 2022 ended June 30th, 2021, this previous Friday.

Q1 Financial Highlights

(All figures are in Canadian dollars and compared to the previous quarter - see here)

  • Net Revenuedecreased 8.2% to $136.2M
    • Other Revenuedecreased 25.2% to $8.0M
    • Cannabis Revenue: decreased 8.1% to $92.9M
      • Business-to-Business Recreational: decreased 1.2% to $42.7M
      • Business-to-Consumer Recreational: decreased 2.8% to $17.3M
      • Canadian Medical: decreased 1.5% to $13.5M
      • International Medical: decreased 27.8% to $11.4M
  • Gross Marginincreased to 21% from 14%
  • Adj. EBITDA (Loss): loss decreased 32.3% to $(63.6)M
  • Net Income (Loss): improved to $390M from a loss of $(616.7)M in the previous quarter
  • Cash on Handdecreased 43.8% to $2.3B

Q1 Operational Highlights

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