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Canopy has lost approximately $3.2 billion since 2015.
Net losses for fiscal years ended Mar 31:
2015—$9.3 million (15 mths)
2016—$3.5 million
2017—$7.6 million
2018—$51.1 million
2019—$712 million
2020—$1.4 billion
2021—$1 billion (9 mths)
Expects EBITDA-positive in FY 2022
Net losses for fiscal years ended Mar 31:
2015—$9.3 million (15 mths)
2016—$3.5 million
2017—$7.6 million
2018—$51.1 million
2019—$712 million
2020—$1.4 billion
2021—$1 billion (9 mths)
Expects EBITDA-positive in FY 2022
Is the prospect of US cannabis law reform the new "funded capacity" for large publicly traded Canadian cannabis businesses?
The answer is yes
Aurora Cannabis has lost approx. $3.67 billion since 2015.
Net losses for fiscal years ended Jun 30:
2015—$9.5 million (~21 months)
2016—$5.7 million
2017—$13 million
2018—*$69.23 million net income*
2019—$300 million
2020—$3.3 billion
2021—$110 million (first Q only)
Net losses for fiscal years ended Jun 30:
2015—$9.5 million (~21 months)
2016—$5.7 million
2017—$13 million
2018—*$69.23 million net income*
2019—$300 million
2020—$3.3 billion
2021—$110 million (first Q only)
More randomly chosen net losses (approximate) for LPs since 2016
Hexo—lost $655M
Tilray—lost $671M
Green Organic—lost $414M
Organigram—lost $177M since 2014
Mostly due writedowns stemming from overproduction
Credit to Aphria & Cronos for largely avoiding that mistake.
Hexo—lost $655M
Tilray—lost $671M
Green Organic—lost $414M
Organigram—lost $177M since 2014
Mostly due writedowns stemming from overproduction
Credit to Aphria & Cronos for largely avoiding that mistake.
Sundial has lost $142.1 million (net) so far this year (through Q3 fy 2020), bringing accumulated deficit since founded to $502 million.
Began cultivating pot in '12 & started selling in '18 after Canada legalized. Yet to generate an annual profit.
Stock near all-time high.
Began cultivating pot in '12 & started selling in '18 after Canada legalized. Yet to generate an annual profit.
Stock near all-time high.
Can't forget about Tilray
Tilray has lost *$340 million through 3 quarters 2020, bringing its accumulated deficit since founded to *$923 million
“We began operating in 2014 and have yet to generate a profit” filing states
Both figures converted from US to CAD for consistency
Tilray has lost *$340 million through 3 quarters 2020, bringing its accumulated deficit since founded to *$923 million
“We began operating in 2014 and have yet to generate a profit” filing states
Both figures converted from US to CAD for consistency
$10.2 BILLION—Combined losses for Canadian cannabis producers in this thread since 2015-2016. (Cronos & Aphria excepted.)
For the most part they didn't bankroll those losses to fund future growth; LPs spent stupid money on low-worth assets so don't @ me something about Amazon
For the most part they didn't bankroll those losses to fund future growth; LPs spent stupid money on low-worth assets so don't @ me something about Amazon
Bears repeating: The losses of a small number Canadian LPs - as large as they are - is not a reflection of the industry as a whole. It's a result of the poor decisions made by the boards of those businesses and their backers. There are plenty of successful operators in Canada.
