WEED - Canopy Growth Reports 7% YoY Drop In Q3 Revenue CEO Touts 'New Era' For Company As It Seeks US Listing | Benzinga
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced its financial results on Friday for the third quarter ended Dec. 31, 2023, reporting an 81% year-over-year increase in "rest-of-world" cannabis revenue to CA$10.5 million ($7.8 million).
The Ontario, Canada-based medical cannabis giant attributed the increase in international cannabis revenue mostly to continued strong growth in Australia and a return to growth in Europe driven by new products and improved sales execution.
See also: These 2 Canadian Cannabis Companies Forge Ahead In European Markets With German, Dutch Ventures
Canopy also revealed its plans to take its fair share of the U.S. cannabis market through its non-controlling interest in Canopy USA.
Canopy officials said in October 2022 that the company plans to create a new U.S.-domiciled holding company, Canopy USA, LLC that will hold the company’s U.S. cannabis investments and enable it to exercise rights to acquire Acreage, Wana and Jetty.
On Friday, the company said it expects to file its definitive proxy statement with the U.S. Securities and Exchange Commission (SEC) on or about Feb. 13, followed by ...