Canopy Growth Files 2024 10-K: Financials and Strategy

Ticker: CGC · Form: 10-K · Filed: May 30, 2024 · CIK: 1737927

Canopy Growth Corp 10-K Filing Summary
FieldDetail
CompanyCanopy Growth Corp (CGC)
Form Type10-K
Filed DateMay 30, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: 10-K, cannabis, financials

Related Tickers: CGC

TL;DR

Canopy Growth's 2024 10-K is in. Get the full financial picture and future plans.

AI Summary

Canopy Growth Corp. filed its 10-K for the fiscal year ending March 31, 2024, reporting significant financial activities and operational updates. The company's filing details its financial position, including assets and liabilities, and outlines its business strategy moving forward. Specific financial figures and operational details are provided within the comprehensive report.

Why It Matters

This filing provides investors and stakeholders with a detailed look into Canopy Growth's financial health and strategic direction for the past fiscal year, crucial for understanding the company's performance and future prospects in the cannabis industry.

Risk Assessment

Risk Level: medium — The company operates in a highly regulated and evolving industry, facing market volatility and competitive pressures.

Key Numbers

  • N/A — Revenue (Specific revenue figures are not provided in the excerpt.)
  • N/A — Net Income/Loss (Specific net income or loss figures are not provided in the excerpt.)
  • N/A — Total Assets (Specific total asset figures are not provided in the excerpt.)

Key Players & Entities

  • Canopy Growth Corp. (company) — Filer of the 10-K report
  • 20240331 (date) — Fiscal year end date
  • 20240530 (date) — Filing date
  • 001-38496 (dollar_amount) — SEC File Number

FAQ

What is Canopy Growth's primary business segment?

Canopy Growth Corp. is primarily involved in the medicinal chemicals and botanical products industry, as indicated by its SIC code [2833].

When did Canopy Growth's fiscal year end for this filing?

The fiscal year end for this 10-K filing was March 31, 2024.

What is the SEC file number for Canopy Growth?

The SEC file number for Canopy Growth is 001-38496.

Where is Canopy Growth headquartered?

Canopy Growth Corp. is headquartered in Smiths Falls, Ontario, Canada, with a business address at 1 Hershey Drive, Smiths Falls, ON K7A 0A8.

What is the filing date of this 10-K?

This 10-K filing was made on May 30, 2024.

Filing Stats: 4,404 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-05-30 06:46:19

Filing Documents

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 26 Item 1B. Unresolved Staff Comments 59 Item 1C. Cybersecurity 59 Item 2.

Properties

Properties 60 Item 3.

Legal Proceedings

Legal Proceedings 61 Item 4. Mine Safety Disclosures 62 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 63 Item 6. Reserved 63 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 64 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 101 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 102 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 102 Item 9A.

Controls and Procedures

Controls and Procedures 102 Item 9B. Other Information 103 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 104 PART III Item 10. Directors, Executive Officers and Corporate Governance 105 Item 11.

Executive Compensation

Executive Compensation 118 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 141 Item 13. Certain Relationships and Related Transactions, and Director Independence 143 Item 14. Principal Accountant Fees and Services 148 PART IV Item 15. Exhibits and Financial Statement Schedules 149 Item 16. Form 10-K Summary 153

SIGNATURES

SIGNATURES 154 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULES F- 1 Unless otherwise noted or the context indicates otherwise, references in this Annual Report on Form 10-K ("Form 10-K") to the "Company," "Canopy Growth," "we," "us" and "our" refer to Canopy Growth Corporation, its direct and indirect wholly-owned subsidiaries and, if applicable, its joint ventures and investments accounted for by the equity method; the term "cannabis" means the plant of any species or subspecies of genus Cannabis and any part of that plant, including all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers; and the term "hemp" has the meaning given to such term in the U.S. Agricultural Improvement Act of 2018 (the "2018 Farm Bill"), including hemp-derived cannabidiol ("CBD"). This Form 10-K contains references to our trademarks and trade names and to trademarks and trade names belonging to other entities. Solely for convenience, trademarks and trade names referred to in this report may appear without the or symbols, but such references are not intended to indicate, in any way, that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend our use or display of other companies' trademarks or trade names to imply a relationship with, or endorsement or sponsorship of us or our business by, any other companies. All currency amounts in this Form 10-K are stated in Canadian dollars, which is our reporting currency, unless otherwise noted. All references to "dollars" or "CDN

quot; are to Canadian dollars and all references to "US
quot; are to U.S. dollars. 1 PAR T I Special Note Regarding Forward-Looking Statements; Risk Factor Summary This Form 10-K contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and

Forward-looking statements include, but are not limited to, statements with respect to

Forward-looking statements include, but are not limited to, statements with respect to: laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to hemp (including CBD) products and the scope of any regulations by the U.S. Food and Drug Administration (the "FDA"), the U.S. Drug Enforcement Administration (the "DEA"), the U.S. Federal Trade Commission (the "FTC"), the U.S. Patent and Trademark Office (the "USPTO"), the U.S. Department of Agriculture (the "USDA") and any state equivalent regulatory agencies over hemp (including CBD) products; expectations regarding the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; our ability to refinance debt as and when required on terms favorable to us and comply with covenants contained in our debt facilities and debt instruments; the impacts of the Company's strategy to accelerate entry into the U.S. cannabis market through the creation of Canopy USA, LLC ("Canopy USA"), including the costs and benefits associated with the Reorganization Amendments (as defined below) and the Additional Reorganization Amendments (as defined below); expectations for Canopy USA to capitalize on the opportunity for growth in the United States cannabis sector and the anticipated benefits of such strategy; the timing and outcome of the Floating Share Arrangement (as defined below), the anticipated benefits of the Floating Share Arrangement, the anticipated timing of the acquisition of the Fixed Shares (as defined below) and the Floating Shares (as defined below) by Canopy USA, the satisfaction or waiver of the closing conditions set out in the Floating Share Arrangement Agreement (as defined below) and the Existing Acreage Arrangement Agreement (as defined below), including receipt of all regulatory approvals, and the anticipated timing and occur

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