Canopy Growth Files 10-Q for Q3 2025

TL;DR

Canopy Growth's Q3 2025 10-Q is in. Check financials and credit facility updates.

AI Summary

Canopy Growth Corp. filed its 10-Q for the period ending December 31, 2024. The company reported on its financial performance and operations, including details related to its credit facilities and various agreements. Specific financial figures and operational highlights are detailed within the filing.

Why It Matters

This filing provides investors and stakeholders with an update on Canopy Growth's financial health and strategic positioning as of the end of the third quarter of fiscal year 2025.

Risk Assessment

Risk Level: medium — The company operates in a highly regulated and evolving industry, which presents inherent risks and uncertainties.

Key Numbers

• Q3 --03-31 2025 — Fiscal Quarter End (Indicates the period covered by the report.)
• 001-38496 — SEC File Number (Identifies the company's SEC filing history.)

Key Players & Entities

• Canopy Growth Corp. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• 2025-02-07 (date) — Filing date
• Acreage Holdings Inc. (company) — Mentioned in relation to an agreement
• Wana (company) — Mentioned in relation to an agreement

FAQ

Filing Documents

• cgc-20241231.htm (10-Q) — 4832KB
• cgc-ex31_1.htm (EX-31.1) — 17KB
• cgc-ex31_2.htm (EX-31.2) — 17KB
• cgc-ex32_1.htm (EX-32.1) — 10KB
• cgc-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-25-015839.txt ( ) — 19503KB
• cgc-20241231.xsd (EX-101.SCH) — 2617KB
• cgc-20241231_htm.xml (XML) — 3929KB

Financial Statements

Financial Statements 1 Condensed Interim Consolidated Balance Sheets 1 Condensed Interim Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Interim Consolidated Statements of Shareholders' Equity 3 Condensed Interim Consolidated Statements of Cash Flows 5 Notes to the Condensed Interim Consolidated Financial Statements 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 Item 4.

Controls and Procedures

Controls and Procedures 62 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 63 Item 1A.

Risk Factors

Risk Factors 64 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 65 Item 3. Defaults Upon Senior Securities 65 Item 4. Mine Safety Disclosures 65 Item 5. Other Information 65 Item 6. Exhibits 65

Signatures

Signatures 67 Unless otherwise noted or the context indicates otherwise, references in this Quarterly Report on Form 10-Q ("Quarterly Report") to the "Company," "Canopy Growth," "we," "us" and "our" refer to Canopy Growth Corporation and its direct and indirect wholly-owned subsidiaries 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, including hemp-derived cannabidiol ("CBD"). This Quarterly Report 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 Quarterly 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 Quarterly Report are stated in Canadian dollars, which is our reporting currency, unless otherwise noted. All references to "dollars" or "CDN

Financi al Statements

Item 1. Financi al Statements. CANOPY GROWTH CORPORATION CONDENSED INTERIM CO NSOLIDATED BALANCE SHEETS (in thousands of Canadian dollars, except number of shares and per share data, unaudited) December 31, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 161,909 $ 170,300 Short-term investments 16,435 33,161 Restricted short-term investments 7,108 7,310 Amounts receivable, net 49,058 51,847 Inventory 90,753 77,292 Assets of discontinued operations - 8,038 Prepaid expenses and other assets 15,822 23,232 Total current assets 341,085 371,180 Equity method investments 49,834 - Other financial assets 321,368 437,629 Property, plant and equipment 299,604 320,103 Intangible assets 89,791 104,053 Goodwill 44,093 43,239 Other assets 18,444 24,126 Total assets $ 1,164,219 $ 1,300,330 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 28,918 $ 28,673 Other accrued expenses and liabilities 37,191 54,039 Current portion of long-term debt 3,167 103,935 Other liabilities 27,740 48,068 Total current liabilities 97,016 234,715 Long-term debt 438,404 493,294 Other liabilities 37,324 71,814 Total liabilities 572,744 799,823 Commitments and contingencies Canopy Growth Corporation shareholders' equity: Share capital Common shares - $nil par value; Authorized - unlimited; Issued and outstanding - 129,153,014 shares and 91,115,501 shares, respectively. Exchangeable shares - $nil par value; Authorized - unlimited; Issued and outstanding - 26,261,474 shares and nil shares, respectively. 8,670,494 8,244,301 Additional paid-in capital 2,637,337 2,602,148 Accumulated other comprehensive loss ( 8,999 ) ( 16,051 ) Deficit ( 10,707,357 ) ( 10,330,030 ) Total Canopy Growth Corporation shareholders' equity 591,475 500,368 Noncontrolling inter

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View this 10-Q filing on SEC EDGAR