Canopy Growth reports $21.1 million Q4 net loss as expenses rise sharply

SMITHS FALLS, Ont. – Canopy Growth Corp. (TSX:WEED) saw its fourth-quarter net loss quadruple to $21.1 million as expenses rose sharply.

The medical marijuana producer’s net loss was equal to 14 cents per share, up from five cents per share in the fourth quarter of its 2016 financial year.

Its expense items included $5.4 million of acquisition-related costs, which weren’t a factor last year, due to its purchase of Mettrum Health Corp.

Meanwhile, share-based compensation expenses before acquisitions rose to $4.7 million from $1 million.

Revenue during the three months ended March 31 rose to $14.7 million, including two months of contributions from Mettrum, up from $5 million a year earlier.