Canopy Growth Corp. (TSX.WEED) reported its Second Quarter Fiscal 2021 financial results, and Edmonton AB-based Aurora Cannabis (T.ACB) announced their Fiscal First Quarter 2021 Results prior to markets opening on Monday, while Nanaimo, BC-based Tilray Inc. (NASDAQ: TLRY) released its 2020 Q3 Report after the closing bell.
- Achieved record quarterly net revenue of $135 million
- Net Loss of $97 million
- Adjusted EBITDA loss of $86 million – a 43% improvement versus Q2 FY20.
- “#1 Canadian Medical Position by Cannabis Net Revenue & Strong International Medical Growth”
- Cannabis Net Revenue of $67.8 million , Adjusted Gross Margin of 48%, or 52% Excluding Nordic 1 Ramp Up Costs
- Achieved Targeted SG&A During Q1 2021.
- Total Revenue of $51.4 Million was Flat Versus Q3 2019 and Up 2.0% Compared to Q2 2020 – Excluding Bulk Sales in the Prior Year Period, Total Revenue Increased 25%
- Total Annualized Savings of Approximately $55 Million to be Achieved by Q4 2020
- Net Loss of $(2.3) Million Versus Net Loss of $(36.4) Million in Q3 2019 and $(81.7) Million in Q2 2020
- Adjusted EBITDA Loss Narrowed to $(1.5) Million Compared to $(12.3) Million in Q2 2020
- Q3 2020 Ending Cash Balance of $155.2 Million with $209 Million Remaining Available on ATM
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