Strong Canadian Adult-Use Cannabis Growth
Net revenue in the Canadian adult-use cannabis business increased by 30% year-over-year in Q2, driven by demand for Claybourne infused pre-rolls and Tweed and 7ACRES All-In-One vapes.
Canadian Medical Cannabis Revenue Increase
Net revenue in the Canadian medical cannabis business grew by 17% year-over-year, marking another consecutive quarter of growth and supported by a 20% increase in patient registrations.
SG&A Savings Surpass Target
The SG&A savings program delivered over $21 million in annualized savings, surpassing the original $20 million target ahead of schedule.
Positive Cash Position and Reduced Debt
Canopy Growth reported $298 million in cash and cash equivalents, exceeding debt balances by $70 million, and prepaid USD 50 million on its senior secured term loan, capturing USD 6.5 million in annualized interest savings.