Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today announces its financial results for the first quarter fiscal 2022 ended June 30, 2021 . All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
Highlights
- Achieved 23% revenue growth in Q1 2022 versus Q1 2021 driven by strong double-digit growth in both cannabis and other consumer products businesses.
- Maintained #1 market share 1 in tracked Canadian recreational cannabis market amid a highly competitive landscape.
- Completed acquisition of Ace Valley and Supreme Cannabis, with commercial and operational Integration progressing smoothly.
- Led by consumer insights, a robust innovation pipeline with over 100+ SKUs across key product categories set to hit store shelves from Q2 2022 to Q4 2022.
- Momentum with cannabis reform increasing as the Company continues to build its U.S. presence through broad portfolio of innovative CBD and CPG brands.
- Remains committed to accelerating top-line growth in the second half of fiscal 2022 and achieving positive Adjusted EBITDA by end of fiscal 2022.
“With the right strategy and strong foundation in place we are confident in our ability to deliver long-term success as Canopy’s products and brands continue to demonstrate their appeal to consumers in our core markets,” said David Klein , CEO, Canopy Growth. “While we’re encouraged by regulatory advancement in the U.S., Canopy is not...
Read Full Story: https://investingnews.com/daily/cannabis-investing/canopy-growth-reports-first-quarter-fiscal-2022-financial-results/
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.