The Financial Post reports in its Saturday, April 6, edition that in its most recent financial quarter, Canopy Growth brought in $83-million, which mostly came from the sale of over 10,102 kilogram of cannabis. The Post's Vanmala Subramaniam writes that Canopy's harvest rates have generally been on a sharp upward trajectory. In 2018, Canopy harvested as much as 40,000 kg of cannabis.
By contrast, its closest rival, Aurora, which says it is operating at an annualized production rate of 120,000 kg, produced just over 16,000 kg in 2018. In terms of sales, Aurora sold 7,000 kg of cannabis, bringing in revenue of $62-million in its most recent quarter.
Purpose Investments chief investment officer Greg Taylor says: "Look, I think the bottom line here, when you look at all of these companies, is that it is much harder to mass produce cannabis than everyone expected. That, to me is a risk for the whole sector. They came out with these monster growth numbers, but not a single big licensed producer has been able to deliver on them yet."
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