Canopy Growth Reports Second Quarter Fiscal 2017 Results

- November 14th, 2016

Canopy Growth (TSX:CGC) has reported its financial results for the second quarter fiscal 2017, ended September 30, 2016. As quoted in the press release: Second Quarter Fiscal 2017 Highlights Revenue of $8.5 million; a 22% increase over first quarter fiscal year 2017 and 245% over the three-month period ended September 30, 2016 Over one metric … Continued

Canopy Growth (TSX:CGC) has reported its financial results for the second quarter fiscal 2017, ended September 30, 2016.
As quoted in the press release:

Second Quarter Fiscal 2017 Highlights

  • Revenue of $8.5 million; a 22% increase over first quarter fiscal year 2017 and 245% over the three-month period ended September 30, 2016
  • Over one metric ton sold in the quarter, specifically 1,169 kilograms and kilogram equivalents, representing an increase of 19% over first quarter fiscal year 2017 and an increase of 267% over the second quarter fiscal year 2016
  • Harvested 1,711 kilograms during the second quarter ended September 30, 2016
  • Net income for the quarter ended September 30, 2016 was $5.4 million, including a non-cash unrealized gain on changes in the fair value of biological assets of $16.1 million, compared to net income of $3.9 million in same period last year, including a non-cash unrealized gain on the change in fair value of biological assets totaling $12.5 million
  • Expenses in the quarter included initial costs to establish Brazil amounting to $0.3 million and related legal expenses of $0.6 million, and $0.3 million related to uplisting to the TSX
  • Over 24,400 registered patients at September 30, 2016
  • Listed common shares on the Toronto Stock Exchange
  • Exported Tweed-branded medical cannabis for sale to German patients for the first time

Click here to read the full press release.

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