Canopy Growth Corp. reported a loss in its latest quarter as its revenue grew 77 per cent compared with a year ago.
The cannabis company says its net loss of the quarter ended Sept. 30 was $96.6 million or nine cents per diluted share compared with net income of $242.7 million or 25 cents per diluted share a year ago.
Net revenue in what was the second quarter of its 2021 financial year totalled a record $135.3 million, up from $76.6 million in the same quarter a year earlier.
Canopy says the growth was driven by an increase in Canadian recreational cannabis revenue and continued strength in Storz & Bickel (S&B) vaporizer sales and skincare company This Works.
S&B vaporizer revenue doubled compared with a year ago, while This Works sales gained 34 per cent.
The quarter also included sales from BioSteel, which was acquired in October 2019.
The Canadian Press