(Image Credit - Nick Youngson)
After the close yesterday, Canopy Growth Corp. (TSX:WEED)(OTC:TWMJF) released and filed their fourth quarter and full year financial results. There are a few highlights of the financials worth looking at:
Revenues for FY'17 were $39.9 million CAD (~30.2 million USD) compared to 12.69 million CAD in the previous FY. This increase in revenues was attributable to the Mettrum acquisition, the launch of cannabis oil sales and an increase in the average price per gram sold.
In fiscal year 2017, the company sold 5,139 kilograms and equivalents. This marked a 203% increase over fiscal year 2016.
Adjusted product contribution in FY'17 was $25.1 million CAD, or 63% of revenue. In the previous fiscal year, adjusted product contribution was $8.1 million CAD or 64% of revenue. The adjusted product contribution removes the effect of changes in fair value of biological assets and recognizes cost of sales based on the weighted average cost per gram sold.
Operating expenses in FY'17 were $52.8 million CAD, or 132% of revenues compared to $21.7 million CAD in the previous year.
Net losses for fiscal year 2017 were $16.7 million CAD, versus $3.5 million CAD in FY'16.
Accumulated deficits for the company have risen to $30.3 million CAD as of March 31st, 2017.
Net loss per share amounted to $0.14 CAD per share compared to a loss of $0.05 CAD per share in the previous fiscal year.
Weighted average common shares outstanding were 118,989,731 as of March 31st, 2017 compared to 77,023,935 at the end of the previous fiscal year.
Operational Highlights in FY'17 and Beyond
Find more operational highlights from Canopy Growth Corp. by checking out their foreign operations update and their domestic (Canadian) operations updates linked above.
To learn more about Canopy Growth Corp. (TSX:WEED)(OTC:TWMJF) check out the company's stock profile in our Canadian L.P. database. To view more marijuana stocks, check out our full marijuana stock database.
Be sure to subscribe to our Canadian L.P. newsletter, so you never miss an important update from one of Canada's 50 LPs.
Also, don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter and Instagram.
Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.