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Canopy Growth Corp. reports net loss of $324.8 million in second quarter

Grow Opportunity, Media Partners

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SMITHS FALLS, Ont. — Canopy Growth Corp. says its net loss for the second quarter was $324.8 million, compared with $305.8 million a year earlier.

The company says its net loss from continuing operations was $148.2 million, compared with $196.5 million during the same quarter last year.

Revenues for the quarter were $82.1 million, down from $100.4 million a year earlier.

The company says its Canadian cannabis business delivered its third consecutive quarter of organic revenue growth while significantly reducing costs.

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This September, the company obtained creditor protection for BioSteel Sports Nutrition Inc. and said it intends to sell the business.

In August, the company announced it had signed a deal to sell the Hershey building in Smiths Falls, Ont., back to the chocolate maker for around $53 million.

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