There are signs of recovery at Canopy Growth, even as revenue continues to decline.
The Smiths Falls based cannabis producer pulled in $269 million this past fiscal year, down nine percent from last year.
Still, the company managed to shrink its net loss by $200 million and made a significant dent in its debt — reducing it from $597 million to $304 million.
The company also announced $20 million in new cost-cutting measures, targeting staffing, marketing, and IT spending over the next 12 to 18 months.
In Canada, medical cannabis sales grew by 13 per cent in the final quarter of the year.