![]() ![]() ![]() In delaying its outlook on profitability, Canopy said it is now focused on stabilizing its market share of the Canadian recreational cannabis market over the next six months.Ĭanopy, along with other large producers in Canada, have experienced significant market share erosion this year. Overall net revenue fell 3% from the previous quarter to CA$131.4 million in the second quarter. We are focused on increasing market share in Canada, premiumizing our product mix and delivering on our cost savings commitment,” CFO Mike Lee said in a statement. “Achieving profitability remains a top priority. The company said it’s looking to further tighten expenses and is on track to achieve cost savings of CA$150 million to CA$200 million before the first half of fiscal 2023, which starts in April 2022.Ĭanopy wrote off another CA$87 million of inventory, citing excess Canadian inventory “resulting from lower sales relative to forecast.” 30 was substantially worse than the previous quarter’s CA$63.6 million EBITDA loss.Ĭanopy reported a net loss of CA$16.3 million for its second fiscal quarter. Canopy’s adjusted EBITDA loss of 162.6 million Canadian dollars ($130 million) in the three months ended Sept. ![]()
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