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Canopy Growth Q3 2017 Results Visualized.
Third Quarter Fiscal 2017 Highlights
- The Company had over 29,000 registered patients at December 31, 2016 compared to over 8,000 at December 31, 2015, representing a greater than 260% increase.
- Revenue of $9.8 million; a 15% increase over second quarter fiscal year 2017 and a 180% increase over the prior year period
- Revenue growth limited by the available product mix for sale; supply was limited in the quarter by the Company’s rigorous procedures to fully test the record harvest and approve the extensive product released for sale subsequent to quarter end
- Harvested a company record 5,264 kilograms compared to 1,711 kilograms in the second quarter fiscal year 2017, representing a 208% increase
- Inventory at December 31, 2016 valued at $50.6 million comprised of 8,375 kilograms of dry cannabis and 2,683 litres of cannabis oils, providing a strong base for growing demand and continue growth. Of the total dry cannabis on hand, less than 10% was available for sale during and at the end of the quarter to address the demand for THC/CBD varieties and price points.
- Net income of $3.0 million compared to a net loss of $3.3 million in the prior year period
- Acquired Quebec-based ACMPR license applicant Vert Cannabis (formerly Vert Médical) and majority stake in licensed hemp producer HEMP.ca
- Acquired German licensed medical distributor MedCann GMBH
- Closed bought deal financing that raised gross proceeds of $60 million
- $92.5 million in cash and cash equivalents at quarter end
- Mettrums patients, warchest and assets are not included in this report but are still under canopys belt.