Peer & Trend Comparison Gross Margin % Before IFRS Voodoo

I will take a one day break from posting the Income Statement Driver and Implied Breakeven charts to post this new one on Peer & Trend Gross Margin. OGI sure has a pretty trend. I will start using the above in quarterly Rundowns.

Continue Reading
Canopy Growth Q3 F2019 Rundown – Dec 31, 2018

First Q of Adult Recreational with the market leader! Open up the fins and MDA ad follow along Sales: Net revenue was $83 million with KGs sold of 10,102.  The bulk of the sales increase was attributable to Rec with Medical dropping to an Other income increasing Here is the bridge to last Q: CGC came out of the first Q of adult rec with a bang with sales of $59 million and 8,288 kgs of cannabis sold.  This compares favorably to their largest peers that have reported. ACB sold 3,806 KGs or $21 million in the full Q of adult Rec.  Apha recorded…

Continue Reading
Canopy Growth Q2 F2019 Rundown

After doing TRST last night, this is a sober reminder of the fact that this industry has a looong way to go.   To be fair to ACB, where I inserted a similar narrative for those that do not read the entire post,.… I will also talk about Net Operating Profit versus Net Income here.   CGC lost $330 million Net Income for the Q, with IFRS voodoo removed it was negative $290 million. Their Net Operating Income with IFRS voodoo backed out was negative $174 million. Net Operating Profit is the profit generated by the business itself and not the investment side of…

Continue Reading
Canopy Growth Q1 F2019 Rundown

Open up the fins and MDA and follow along. Before I dive in… congrats to Canopy and their shareholders. The news today was like several hole in ones in a row. I haven’t had time to dig all the way into the costs of the deal. But, damn… credit where credit is due Sales I am hoping CGC starts providing tables and a bridge on where revenue increases are coming from so I can check my spread against their data versus in the future. At $8.94/gram (a 6% QoQ increase) with sales of 2,695 KGS (7% increase)… revenue from cannabis was $24 million and…

Continue Reading
Canopy Growth Q4 F2018 Rundown

Ok… time to pull out the financial statements and MDA and follow along. For the Q ended March 31, 2018 CGC evidenced $1.1 million (5.1%) increase in sales over Q3F18. Sales of product of $21,311 [$8.43/gram times grams sold versus total sales of $22.8 million] for Q4 represented an increase from Q3 of $19,339 or close to $2 million a 10% increase. Product sales increase was driven by Germany increase of $1.4 million to $2.3 million, with the balance being increase in Cdn product sales of $619k or only 3% QoQ on Cdn sales. The higher mix of Germany sales resulted in an updraft…

Continue Reading
  • 1
  • 2
Close Menu