None
SEDAR Interim Financial Statements
WEED · Price
[
{
"companyName": "Canopy Growth Corporation",
"balanceSheet": {
"december31_2025": {
"cashAndCashEquivalents": 371322,
"shortTermInvestments": 0,
"restrictedShortTermInvestments": 5034,
"amountsReceivableNet": 32536,
"inventory": 105555,
"prepaidExpensesAndOtherAssets": 10219,
"totalCurrentAssets": 524666,
"otherInvestments": 155150,
"propertyPlantAndEquipment": 285039,
"intangibleAssets": 76168,
"goodwill": 47525,
"otherAssets": 17644,
"totalAssets": 1106192,
"accountsPayable": 19963,
"otherAccruedExpensesAndLiabilities": 43755,
"currentPortionOfLongTermDebt": 0,
"otherLiabilities": 34576,
"totalCurrentLiabilities": 98294,
"longTermDebt": 224989,
"otherLiabilitiesNonCurrent": 24736,
"totalLiabilities": 348019,
"shareCapital": 9169947,
"additionalPaidInCapital": 2615588,
"accumulatedOtherComprehensiveIncome": 6576,
"deficit": -11033938,
"totalShareholdersEquity": 758173,
"totalLiabilitiesAndShareholdersEquity": 1106192,
"cashPerShare": null,
"workingCapitalPerShare": null
},
"march31_2025": {
"cashAndCashEquivalents": 113811,
"shortTermInvestments": 17656,
"restrictedShortTermInvestments": 6410,
"amountsReceivableNet": 52780,
"inventory": 96373,
"prepaidExpensesAndOtherAssets": 7544,
"totalCurrentAssets": 294574,
"otherInvestments": 179977,
"propertyPlantAndEquipment": 293523,
"intangibleAssets": 87200,
"goodwill": 46042,
"otherAssets": 16385,
"totalAssets": 917701,
"accountsPayable": 26099,
"otherAccruedExpensesAndLiabilities": 38613,
"currentPortionOfLongTermDebt": 4258,
"otherLiabilities": 25434,
"totalCurrentLiabilities": 94404,
"longTermDebt": 299811,
"otherLiabilitiesNonCurrent": 36273,
"totalLiabilities": 430488,
"shareCapital": 8796406,
"additionalPaidInCapital": 2618417,
"accumulatedOtherComprehensiveIncome": 535,
"deficit": -10928145,
"totalShareholdersEquity": 487213,
"totalLiabilitiesAndShareholdersEquity": 917701,
"cashPerShare": null,
"workingCapitalPerShare": null
}
},
"incomeStatement": {
"threeMonthsEndedDecember31_2025": {
"revenue": 90391,
"exciseTaxes": 15850,
"netRevenue": 74541,
"costOfGoodsSold": 53075,
"grossMargin": 21466,
"sellingGeneralAndAdministrativeExpenses": 44437,
"shareBasedCompensation": 888,
"lossOnAssetImpairmentAndRestructuring": 2491,
"totalOperatingExpenses": 47816,
"operatingLossFromContinuingOperations": -26350,
"otherIncomeExpenseNet": -35909,
"lossFromContinuingOperationsBeforeIncomeTaxes": -62259,
"incomeTaxExpense": -368,
"netLossFromContinuingOperations": -62627,
"discontinuedOperationsNetOfIncomeTax": 0,
"netLossAttributableToCanopyGrowthCorporation": -62627,
"basicAndDilutedLossPerShareContinuingOperations": -0.18,
"basicAndDilutedLossPerShareDiscontinuedOperations": 0,
"basicAndDilutedLossPerShare": -0.18,
"basicAndDilutedWeightedAverageCommonSharesOutstanding": 345534979,
"comprehensiveLossFromContinuingOperations": -70070,
"comprehensiveIncomeFromDiscontinuedOperations": 0,
"comprehensiveLossAttributableToCanopyGrowthCorporation": -70070
},
"threeMonthsEndedDecember31_2024": {
"revenue": 86244,
"exciseTaxes": 11483,
"netRevenue": 74761,
"costOfGoodsSold": 50663,
"grossMargin": 24098,
"sellingGeneralAndAdministrativeExpenses": 41476,
"shareBasedCompensation": 5159,
"lossOnAssetImpairmentAndRestructuring": 1285,
"totalOperatingExpenses": 47920,
"operatingLossFromContinuingOperations": -23822,
"otherIncomeExpenseNet": -97758,
"lossFromContinuingOperationsBeforeIncomeTaxes": -121580,
"incomeTaxExpense": -316,
"netLossFromContinuingOperations": -121896,
"discontinuedOperationsNetOfIncomeTax": 0,
"netLossAttributableToCanopyGrowthCorporation": -121896,
"basicAndDilutedLossPerShareContinuingOperations": -1.11,
"basicAndDilutedLossPerShareDiscontinuedOperations": 0,
"basicAndDilutedLossPerShare": -1.11,
"basicAndDilutedWeightedAverageCommonSharesOutstanding": 110306430,
"comprehensiveLossFromContinuingOperations": -123058,
"comprehensiveIncomeFromDiscontinuedOperations": 0,
"comprehensiveLossAttributableToCanopyGrowthCorporation": -123058
},
"nineMonthsEndedDecember31_2025": {
"revenue": 262137,
"exciseTaxes": 48779,
"netRevenue": 213358,
"costOfGoodsSold": 151949,
"grossMargin": 61409,
"sellingGeneralAndAdministrativeExpenses": 118841,
"shareBasedCompensation": 2798,
"lossOnAssetImpairmentAndRestructuring": 5638,
"totalOperatingExpenses": 127277,
"operatingLossFromContinuingOperations": -65868,
"otherIncomeExpenseNet": -39052,
"lossFromContinuingOperationsBeforeIncomeTaxes": -104920,
"incomeTaxExpense": -873,
"netLossFromContinuingOperations": -105793,
"discontinuedOperationsNetOfIncomeTax": 0,
"netLossAttributableToCanopyGrowthCorporation": -105793,
"basicAndDilutedLossPerShareContinuingOperations": -0.39,
"basicAndDilutedLossPerShareDiscontinuedOperations": 0,
"basicAndDilutedLossPerShare": -0.39,
"basicAndDilutedWeightedAverageCommonSharesOutstanding": 269588323,
"comprehensiveLossFromContinuingOperations": -99752,
"comprehensiveIncomeFromDiscontinuedOperations": 0,
"comprehensiveLossAttributableToCanopyGrowthCorporation": -99752
},
"nineMonthsEndedDecember31_2024": {
"revenue": 235985,
"exciseTaxes": 32021,
"netRevenue": 203964,
"costOfGoodsSold": 134997,
"grossMargin": 68967,
"sellingGeneralAndAdministrativeExpenses": 131174,
"shareBasedCompensation": 14531,
"lossOnAssetImpairmentAndRestructuring": 22135,
"totalOperatingExpenses": 167840,
"operatingLossFromContinuingOperations": -98873,
"otherIncomeExpenseNet": -276952,
"lossFromContinuingOperationsBeforeIncomeTaxes": -375825,
"incomeTaxExpense": -6812,
"netLossFromContinuingOperations": -382637,
"discontinuedOperationsNetOfIncomeTax": 5310,
"netLossAttributableToCanopyGrowthCorporation": -377327,
"basicAndDilutedLossPerShareContinuingOperations": -4.15,
"basicAndDilutedLossPerShareDiscontinuedOperations": 0.06,
"basicAndDilutedLossPerShare": -4.09,
"basicAndDilutedWeightedAverageCommonSharesOutstanding": 92172660,
"comprehensiveLossFromContinuingOperations": -379051,
"comprehensiveIncomeFromDiscontinuedOperations": 5310,
"comprehensiveLossAttributableToCanopyGrowthCorporation": -373741
}
},
"cashFlowStatement": {
"nineMonthsEndedDecember31_2025": {
"netLoss": -105793,
"gainFromDiscontinuedOperationsNetOfIncomeTax": 0,
"netLossFromContinuingOperations": -105793,
"depreciationOfPropertyPlantAndEquipment": 14281,
"amortizationOfIntangibleAssets": 13539,
"shareBasedCompensation": 2798,
"lossOnAssetImpairmentAndRestructuring": 710,
"incomeTaxExpense": 873,
"nonCashFairValueAdjustmentsAndChargesRelatedToSettlementOfLongTermDebt": 19246,
"changeInAmountsReceivable": 19606,
"changeInInventory": -8751,
"changeInPrepaidExpensesAndOtherAssets": -3158,
"changeInAccountsPayableAndAccruedLiabilities": -2178,
"otherIncludingNonCashForeignCurrency": 3275,
"netCashUsedInOperatingActivities": -45552,
"purchasesOfAndDepositsOnPropertyPlantAndEquipment": -4333,
"purchasesOfIntangibleAssets": -511,
"proceedsOnSaleOfPropertyPlantAndEquipment": 5,
"redemptionOfShortTermInvestments": 19001,
"netCashOutflowOnSaleOrDeconsolidationOfSubsidiaries": 0,
"netCashInflowOnLoanReceivable": 153,
"investmentInOtherFinancialAssets": 0,
"otherInvestingActivities": 6981,
"netCashProvidedByUsedInInvestingActivitiesContinuingOperations": 21296,
"netCashProvidedByInvestingActivitiesDiscontinuedOperations": 0,
"netCashProvidedByUsedInInvestingActivities": 21296,
"proceedsFromIssuanceOfCommonSharesAndWarrants": 374171,
"proceedsFromExerciseOfStockOptions": 0,
"proceedsFromExerciseOfWarrants": 0,
"issuanceOfLongTermDebtAndConvertibleDebentures": 0,
"repaymentOfLongTermDebt": -71660,
"otherFinancingActivities": -16712,
"netCashProvidedByFinancingActivities": 285799,
"effectOfExchangeRateChangesOnCashAndCashEquivalents": -4032,
"netIncreaseDecreaseInCashAndCashEquivalents": 257511,
"cashAndCashEquivalentsBeginningOfPeriod": 113811,
"cashAndCashEquivalentsEndOfPeriod": 371322
},
"nineMonthsEndedDecember31_2024": {
"netLoss": -377327,
"gainFromDiscontinuedOperationsNetOfIncomeTax": 5310,
"netLossFromContinuingOperations": -382637,
"depreciationOfPropertyPlantAndEquipment": 15570,
"amortizationOfIntangibleAssets": 16081,
"shareBasedCompensation": 14531,
"lossOnAssetImpairmentAndRestructuring": 18971,
"incomeTaxExpense": 6812,
"nonCashFairValueAdjustmentsAndChargesRelatedToSettlementOfLongTermDebt": 223591,
"changeInAmountsReceivable": -3163,
"changeInInventory": -12924,
"changeInPrepaidExpensesAndOtherAssets": -641,
"changeInAccountsPayableAndAccruedLiabilities": -17000,
"otherIncludingNonCashForeignCurrency": -11789,
"netCashUsedInOperatingActivities": -132598,
"purchasesOfAndDepositsOnPropertyPlantAndEquipment": -7724,
"purchasesOfIntangibleAssets": -409,
"proceedsOnSaleOfPropertyPlantAndEquipment": 4932,
"redemptionOfShortTermInvestments": 16950,
"netCashOutflowOnSaleOrDeconsolidationOfSubsidiaries": -6968,
"netCashInflowOnLoanReceivable": 28353,
"investmentInOtherFinancialAssets": -95335,
"otherInvestingActivities": 0,
"netCashProvidedByUsedInInvestingActivitiesContinuingOperations": -60201,
"netCashProvidedByInvestingActivitiesDiscontinuedOperations": 13414,
"netCashProvidedByUsedInInvestingActivities": -46787,
"proceedsFromIssuanceOfCommonSharesAndWarrants": 255989,
"proceedsFromExerciseOfStockOptions": 112,
"proceedsFromExerciseOfWarrants": 8454,
"issuanceOfLongTermDebtAndConvertibleDebentures": 68255,
"repaymentOfLongTermDebt": -148249,
"otherFinancingActivities": -19943,
"netCashProvidedByFinancingActivities": 164618,
"effectOfExchangeRateChangesOnCashAndCashEquivalents": 6376,
"netIncreaseDecreaseInCashAndCashEquivalents": -8391,
"cashAndCashEquivalentsBeginningOfPeriod": 170300,
"cashAndCashEquivalentsEndOfPeriod": 161909
}
},
"investmentsAndOtherAssets": [
{
"type": "Equity Method Investment",
"description": "Investment in Canopy USA, LLC and Canopy USA LPs (holding U.S. cannabis assets including Wana, Jetty, Acreage, TerrAscend). Accounted at fair value.",
"value": 45204,
"notes": "Fair value changes recorded in other income/expense. Valuation uses asset-based approach with unobservable inputs (probability/timing of US legalization, discount rate, expected cash flows, volatility)."
},
{
"type": "Loan Receivable",
"description": "Canopy USA Loans Receivable (Acreage and Wana Debt, Elevate loan receivable).",
"value": 107881,
"notes": "Acreage and Wana Debt is secured by equity interests in Wana entities and guarantees/security over Wana assets. Acreage is in default. Elevate loan receivable is guaranteed by Canopy USA. Valued at lesser of discounted cash flow and debtor net assets."
},
{
"type": "Other Financial Assets",
"description": "Various other financial assets.",
"value": 2065,
"notes": null
},
{
"type": "Intangible Assets - Brands",
"description": "Acquired brands (indefinite lived).",
"value": 31487,
"notes": "Subject to annual impairment testing. Part of Storz & Bickel reporting unit."
},
{
"type": "Intangible Assets - Intellectual Property",
"description": "Intellectual property (finite lived).",
"value": 90742,
"notes": "Gross carrying amount. Net carrying amount $26,562."
},
{
"type": "Property, Plant and Equipment",
"description": "Buildings, greenhouses, production equipment, land, etc.",
"value": 412123,
"notes": "Gross carrying amount. Net carrying amount $285,039."
}
],
"shareStructure": {
"authorizedShares": "Unlimited common shares and exchangeable shares",
"issuedShares": 368284639,
"classesOfShares": ["Common Shares", "Exchangeable Shares"],
"warrants": [
{
"number": 15483580,
"exercisePrice": 10.14,
"expiryDate": null
}
],
"options": [
{
"number": 2693083,
"exercisePrice": 5.39,
"expiryDate": null
}
],
"rights": null,
"convertibleInstruments": "May 2024 Convertible Debenture (principal $89,666, maturing May 14, 2029, conversion price $14.38). Subsequently exchanged in January 2026.",
"notes": "Common shares issued via ATM programs (February 2025, August 2025). Exchangeable Shares issued to Constellation Brands affiliates, convertible 1:1 to common shares. Warrants include those issued in connection with Acreage Acquisition and May 2024 Investor. Options granted under Omnibus Equity Incentive Plan and Previous Equity Incentive Plan."
},
"managementCompensation": {
"currency": "CAD",
"periods": {},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [],
"balancesDueToRelatedParties": {}
}
}
]
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