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The cannabis sector has spent years resetting investors' expectations, one restructuring cycle at a time.
Canopy Growth (NASDAQ: CGC) posted fiscal first-quarter revenue of $58.9 million, a 13% year-over-year gain for the period ended June 30, and found the market's patience still running thin.
The margin story moved in the right direction. Adjusted gross margin expanded to 31% from 25% in the year-ago period, and the adjusted EBITDA loss narrowed 59% to $2.3 million.
Canadian medical cannabis revenue rose 22%, adult-use sales added 10%, and international cannabis revenue grew 10%. The cash problem Those gains land alongside a sharper deterioration at the cash level.
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