Filing Flows › Canopy Growth (CGC) › Q4 FY25
Canopy Growth (CGC) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed May 30, 2025
Canopy Growth (CGC) reported revenue of $78.0M for the fourth quarter fiscal 2025 (Q4 FY25), -6% from a year earlier and -10% from the quarter before. Operating margin was -23.4%, net loss $221M (283.1% of revenue).
Canopy Growth, Q4 FY25: revenue $78.0M (-6% year over year), operating margin -23.4%, net loss $221M, operating cash flow −$33.2M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $78.0M | -10% | -6% |
| Operating profit | −$18.3M | — | — |
| Net earnings | −$221M | — | — |
| Operating cash flow | −$33.2M | — | — |
What changed
Revenue was C$78.0M in Q4 FY25, down 6% year over year and down 10% from the previous quarter. Canadian Cannabis Net Revenue was the largest line at 52% of revenue.
Gross margin was 13.5%, down 5.1 points from a year earlier. Operating costs exceeded revenue by C$18.3M, an operating margin of -23.4%. Operating expenses fell 76% while revenue fell 6%. The quarter ended with a net loss of C$220.8M, wider than the previous quarter's C$121.9M loss. Net interest and other expense of C$202.9M was the main reason.
Operating cash flow was −C$33.2M. Non-cash charges added back C$11.5M of depreciation and amortization. Working capital and other items added C$176.2M. Capital expenditures of C$3.1M exceeded it, leaving free cash flow of −C$36.2M.
Questions
What was Canopy Growth's revenue in the fourth quarter fiscal 2025?
Canopy Growth (CGC) reported revenue of $78.0M for the fourth quarter fiscal 2025 (Q4 FY25), -6% from a year earlier and -10% from the quarter before.
Was Canopy Growth profitable in the fourth quarter fiscal 2025?
Operating loss was $18.3M (-23.4% of revenue) and net loss $221M.
Source: Canopy Growth 10-K on SEC EDGAR.